When a business is first starting out, one of the main things on the business-owner’s mind may be how to get publicity. Some people subscribe to the theory that any publicity is good publicity, but that isn’t always the case. Good publicity is the kind that reaches your target market. After all the people at whom your product is aimed can’t buy what you’re selling if they don’t know it exists.
One of the first things any business-owner needs to do is figure out to whom they are selling. It is easy enough to say, “I embroider clothes anyone could wear”, but that’s not really helpful when it comes to aiming your marketing dollars and efforts. There probably are embroidery businesses out there which do and can cater to anyone, but even those sorts of businesses need to make decisions as to where they will aim their advertising and publicity efforts. “Everyone” is just too broad a demographic. It needs to be narrowed down.
Let’s suppose, for the sake of this post, that you embroider really adorable and unique baby clothes. If you gave it just a little thought, you might suppose that your target demographic would be new parents. You’d be right about that, and so you could target your marketing and advertising efforts on parenting magazines, local parenting groups and other venues where you know new parents can be found. This would be a great start on marketing to your preferred customer, and you might go quite far even if you don’t drill any further down.
If you did drill further down into your demographic heap, you might realize that not only are new parents a potential gold mine, but that the relatives and friends of all the new parents, those looking for a unique baby gift, are also a potential profit center. With that realization, your demographic widens, so that you can reach this additional target group and hopefully boost your sales.
If you want to market successfully, you need to know and understand your target demographic. This will help you decide where to advertise as well as how to advertise your business. If you’re offering cute, whimsical baby clothes, you probably wouldn’t advertise in Popular Mechanics magazine. Knowing who your demographic is, what they like and where they can be found will make it easier to apportion your advertising dollars, allowing you to get the biggest bang for your advertising buck.