You will almost certainly make mistakes while developing your target marketing strategy. But don’t beat yourself up about them. GbBIS shares some common target marketing mistakes and different ways to fix them.
Not understanding what a target market is
A very common mistake. A target market is a specific group of customers that you want to capture for your business. Many new business owners will proclaim that their target market is women, but these business owners are looking at the term too broadly. A target market should be based on shared interests, lifestyles, demographics, and geography, not just a simple factor like gender.
Confusing the term ‘target market’ with ‘niche market’
A target market is your targeted group of customers, but a ‘niche market’ is different. A niche market is a subset of your target market. Say you are a wedding planner and your target market is “women who are getting married.” Your niche within that market may be “women who are getting married and want a destination wedding,” or “women who are getting married and want a garden wedding.” Define the two parts of your marketing strategy: the broader component is your target, the more specific component is your niche.
Not knowing your niche market well enough
Marketing to your customers in a way that makes them like you and trust you requires you to “speak their language.” Whatever your niche market may be, you should immerse yourself in that niche. Learn about your specialized topic on forums, blogs, and anywhere else you can acquire information. Become an expert in your field to instill confidence in your business.
If you fix these mistakes in your target marketing strategy, you’re likely to have a more focused, successful business. If your business needs help managing and creating target marketing strategies, contact GbBIS. We offer a comprehensive collection of target marketing tools, including the most up-to-date demographic databases, custom maps, geographic reports, and more.
Contact GbBIS today. We can help you find new customers and new opportunities