The best way to ensure that you aren't wasting money on ineffective marketing is a two step process. First of all you need to find and understand your target market and second you need a tracking system.
You've created a product or service that is meant to solve a problem. To find your target market all you have to do is ask yourself, "who has this problem?" Once you identified the people who need your product the most the next challenge is to find them.
Try asking friends and family about their problems or searching the Internet, research is the most important step in any business. Ideally you should know your target market before you even open your doors, if you didn't now is the time to find out.
Once you've collected your data you should put your collected market research into a one page form. Lay it out in three sections; demographics, problems, and wants/desires. Be as specific as possible.
Here is a brief example:
Demographics: Single mothers who live within the greater metro area of my city, age 20 to 40. These women are working to support their children. They may or may not be well educated. They average 2.5 children.
Problem #1: Day-care concerns about finding proper and reliable care for their children.
Problem #2: They don't have a social life.
Problem #3: Improved Employment.
Wants/Desires: They want clean, affordable, and reliable day-care. They want romance. Flexible work schedules.
Now you have a guide to work from. How does your product or service solve their problems, or fulfill their desires? The answer will be your sales pitch. Where do these people typically spend their time? That's where you need to focus your advertising dollars.
Now that you are advertising in the right places with the right sales pitch that hits your target's "hot buttons" you need to develop a tracking system on the back-end of your business.
Survey your clients. Ask them how they heard about you. Find out where the spend their time. If possible watch the percentages of returns from different ad campaigns. Focus your money on the ads that yield the highest percentages or revenue.
For more on target markets and charting market research please refer to our Automatic Lead Generator Training Kit.
You've created a product or service that is meant to solve a problem. To find your target market all you have to do is ask yourself, "who has this problem?" Once you identified the people who need your product the most the next challenge is to find them.
Try asking friends and family about their problems or searching the Internet, research is the most important step in any business. Ideally you should know your target market before you even open your doors, if you didn't now is the time to find out.
Once you've collected your data you should put your collected market research into a one page form. Lay it out in three sections; demographics, problems, and wants/desires. Be as specific as possible.
Here is a brief example:
Demographics: Single mothers who live within the greater metro area of my city, age 20 to 40. These women are working to support their children. They may or may not be well educated. They average 2.5 children.
Problem #1: Day-care concerns about finding proper and reliable care for their children.
Problem #2: They don't have a social life.
Problem #3: Improved Employment.
Wants/Desires: They want clean, affordable, and reliable day-care. They want romance. Flexible work schedules.
Now you have a guide to work from. How does your product or service solve their problems, or fulfill their desires? The answer will be your sales pitch. Where do these people typically spend their time? That's where you need to focus your advertising dollars.
Now that you are advertising in the right places with the right sales pitch that hits your target's "hot buttons" you need to develop a tracking system on the back-end of your business.
Survey your clients. Ask them how they heard about you. Find out where the spend their time. If possible watch the percentages of returns from different ad campaigns. Focus your money on the ads that yield the highest percentages or revenue.
For more on target markets and charting market research please refer to our Automatic Lead Generator Training Kit.
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