Targeting the right audience for the greatest return on your marketing dollars
One of the biggest challenges many business owners have is – getting more business. While there are a number of factors that play into getting more business, one factor is targeting the right customers.
“Your target market is the group of consumers [those who would purchase your stuff] at which a company aims its products and services.” – Entrepreneur Magazine.
Why target? If you only have one dollar, do you think your marketing activities would have a greater impact if you did 10 different things for a dime each or one thing for the dollar? You could compare this to using a shotgun versus a rifle: the shotgun will most likely hit a target, but with very little impact, where a rifle, aimed properly, will hit the target with a more remarkable impact.
The question then becomes “who is my target market?” and “how do I define them?”