You MUST read to the end of this because this is important for every marketer!
I tend to be quite fanatical about target markets. So fanatical in fact, that I use it to shut down conversation. "Nup, not interested. Not our target market". Back when I was doing national TV advertising every single day, I only advertised on one 30min show, Monday to Friday. Why? Because that's where my customers were.
The thing with advertising and marketing is that you need to find a way to target your market so specifically that you don't market to anyone else. Why? Because it's a crap load cheaper. That's why. Generally advertising is based on the number of people you touch. Primetime TV in a city may touch 1million people. But if your target market only makes up 20% of that, then you are wasting 80% of your marketing budget. If you don't know who your target market is in the first place, then you are screwed. FIND IT OUT!
This is why TV, radio and anything in print is dying!!!
I now spend all of my marketing efforts in the online world. Why? Because I can target my market even better than ever. And it's just getting better! Recently I helped a friend with her successful Kickstarter Campaign, Poss & Wom. Firstly, don't expect anything on Kickstarter to develop some ground swell from the Kickstarter community support and make you successful. There are far more failures on there than successes. This project, however, was successful. Nearly all the funding came via our Facebook campaigns. We had two target markets, native wildlife lovers and children's literature lovers. As you would expect, the second market was quite difficult to target, but the first was brilliantly easy! We found fanatics with ease, raised the money, with ease, and now Once a Wommie Wombat has been published!
But life now gets even better in targeting YOUR type of customers. Yes we have target markets, but do you actually know who is buying and their habits? You need to check out Facebook Conversion Tracking Pixels! Remarkably easy to install on your website. This little 1pixel by 1pixel...pixel will track any action you want tracked. It can track sign-ups to your mailing list, people who spend money on your website, etc. It will tell you even how much they spent and then return a ROI on your advertising! But wait, there's more! As you get more activity with your pixel, Facebook has an ability to create advertising on a "lookalike" audience. You can advertise to people who act like the people who spend money with you! Absolutely brilliant. How they do this is up to the space cadets and their algorithms. You just need to know that this is such a massive step forward in the world of target market advertising. This goes beyond who you think is your market, to actually who is your market.
I'm a little excited!