Targeting is evaluating ideal segments to go after. Many small businesses rush into marketing without a target. In this article we're going to share our thoughts on how to target your ideal consumer.
If you're looking to put together a target customer you will need segments to choose from. As targeting is picking your ideal customer attributes make sure you have some customer data. If you're not sure how to segment customers, check out our article here. It's easy once you get the hang of it and critical to implement.
How to identify your target customer
Begin by identifying segments that historically have been more valuable to your business. In identifying these segments, you will not waste marketing resources trying to attract less interested markets. Evaluate if your business primarily sells to consumers or other business as complete target will have different variables.
What are we looking for?
Things to think about when evaluating segments are growth potential, large enough to be profitable, and company ability to serve the segment adequately. Furthermore, your business has to be able to realistically reach these target consumers. The next step is combining these variables into an ideal profile.
Making the Profile
Take the segments you found and make a couple ideal profiles. Often your business might have a few valuable customer types for each segment, so use these to build various profiles. Below is an example of a simple table to help you put together a profile.
Once you find a couple profiles that work for your particular business, keep these ideal customers in mind as you allocate marketing resources. If you are communicating with low value leads, you could be wasting time and money.