When you set out to market your brand, product, or service, it is quite tempting to go all in and go the “bigger is better” route in conquering the market. Yes, getting your brand out there is important to drive business, but going too broadly diffuses your message. It might sound counter-intuitive, but the likelihood for success is higher if you break your market down into manageable clusters, rather than attempting to be everything to everybody. Because when you narrow your focus to designated segments, it is easier to reach your audience and create more impact.
Commit to your ideal buyer. Zero in on your ideal audience to maximize the ROI from your marketing costs. It pays more to drive your stake in the ground and commit to a particular segment ideal for your business, even if your product can be customized to fit multiple segments. If you commit your focus on an ideal buyer, your marketing initiatives are more likely to hit home. Doing so not only allows your message to resonate more, but narrowing your target audience will save you time and money in your marketing initiatives.
Refine your business plan. Once you’ve committed to your ideal buyer, the next step is to reinforce that commitment by refining your business plan. Place your ideal buyer at the center of your business decisions. Tailor-fit your marketing message to your ideal buyer for greater impact. Strategize your content so that it speaks directly to address any pain points your buyer may have. When you develop your product single-mindedly for this ideal buyer, you are likely going to win a base of loyal fans. Strive to provide excellent customer experience for your ideal buyer always. Let’s say your ideal buyer falls into the older demographic, he might prefer live chat support or phone support. Integrate your ideal buyer into your business beginning with product development to marketing to customer satisfaction. If you do it this way, your business will be rewarded with enriching leads, more customers, and better customer lifetime value.
Encourage your advocates. Now that you’ve committed to your ideal buyer and aligned your business plan accordingly, it is likely that you’ll have won raving fans at this point. Leverage on your most enthused advocates to attract more customers like them. Perhaps run a referral program to encourage your supporters to bring in new business. Or incentivize them with discounts, premium perks, or rebates. Ask for testimonials for your social media sites. If you go the extra mile for your customers, they will go the extra mile for you, as well.
The whole process of finding a target market and refining your company’s focus to appeal to them directly will often drum up new businesses. But trying to be all things to all people is likely a one-way trip to marketing and product failure.Differentiate your brand from the rest so as to ingrain into your target customers the importance of looking at product value above all else.