identify your target market using social media
TRANSCRIPT
Agenda
• What is a target market?• Why is it important?• Market segments• Good & Bad Samples• Interviewing• Reviewing
What is a target market?
A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy.
-- Wikipedia
Samples
Good Targets
“Women getting married that want a diamond tiara and live in Tucson, AZ”
“Homeowners between the ages of 35-65 with incomes of $150,000+ in the Baton Rouge, Louisiana market”
Bad Targets
“Small business owners in Tucson, AZ”
“Anyone interested in my services”
Why is it important?
Can’t market to people you don’t understand
Lower costs
Compete more effectively
Faster / simpler sales
What are the 3 problems you are trying to solve for your customers?
Scheduling social media posts is time consuming.
Sending social media posts to multiple networks is time consuming.
Sending social media posts to multiple time zones is difficult and time consuming.
Market segmentsDemographic Segment
Measurable statistics such as age, income, occupation, etc.
Psychographic Segment
Lifestyle preferences such as music lovers, city or urban dwellers, etc.
Use-based Segment
Frequency of usage such as recreational drinking, traveling, etc.
Benefit SegmentDesire to obtain the same product benefits such as luxury, thriftiness, comfort from food, etc.
Geographic Segment
Location such as home address, business address, etc.
Who are your customers?
• Worldwide Solo-preneur social media marketers that speak English and have 3+ clients.
Interview questions
Setup context
Rank the problems (must have, nice to have, don’t care)
Prove / disprove market segment
Which marketing channels are most likely to reach them?
Do they make the buying decisions in their company?
What alternatives are they using today?
Ask for introductions
When your problem isn't big enough
• Is there another related, larger problem for your target market?
• Are any of these problems affecting a different market?• Is there are a similar problem but for a smaller market?• Is there a piece of your solution that might be a product on
it's own?
Pick another target or discover new problems