Taking Aim: How to Identify Your Target Audience

What's your mark?

Your business – and every business – has a singular driving goal: capturing more customers and, ultimately, owning your market. Today, owning your market doesn’t require you to spend more on marketing and promoting your business than your competitors. However, it does require you to have a more efficient marketing and promotion engine in place that yields maximum return for every dollar and every hour you invest. The process of building this engine doesn’t begin with tactics; rather, it begins with identifying your target. No business – yours included – can afford to market to everyone. Of course, it’s tempting to try to reach as broad an audience as possible in the hopes that no potential customer will slip through your fingers. However, in actuality, this approach will cost you much more money and deliver far less satisfactory results because you’ll have greatly diluted your chances of reaching those whose needs you truly serve. It’s important to understand that your target audience does not encompass anyone who might possibly ever buy your products or services. Rather, your target audience is comprised of those who are most likely to buy and, therefore, become the primary focus of your marketing efforts. Identifying the right niche provides the foundation for success in all aspects of marketing and promoting your business:

• It allows you to focus your efforts on those tactics and mediums that are most effective in reaching this particular group.
• It allows you to tailor your sales message to focus on the needs and concerns that are of greatest relevancy and urgency.
• Most importantly in today’s marketplace, it allows you to build a strong community around your brand comprised of people who love what you do and happily serve as your fans and evangelists.
• And in real dollars and cents, it’s the difference between sending thousands and hundreds of thousands of postcards to achieve the same end result.

Here are the steps you should take to ensure that you’re targeting the right audience:

Segment your customer base.

Who are your customers? Of course, there are many different ways to answer this question. Often it’s easiest to begin by examining your sales data and segmenting your customers into groups based on demographic factors, including age, gender, income level, education level, marital and family status, industry and geographic location. In working though this process, you’ll likely find that a particular group or groups emerge as those who buy from you most often. This simple step can also help you identify how best to market the same product or service to different groups. Some market segments may be better reached at trade shows while others can be reached at home with a direct mail campaign.

Dig deeper.

Breaking your customer base down into groups based on basic common characteristics like gender and income is only step one. To reach and engage with these groups effectively, you’ll need to develop a deeper understanding of both their lifestyle and their motivations. Start with one of your products or services and evaluate it through the eyes of the customers that exist within each group you’ve identified. Make a list that includes every possible reason this type of customer might want this particular product or service. Maybe they are trying to solve a problem, maybe they just want to feel good about themselves or to satisfy a basic need. Going through this process will help you drill down to the specific benefits and outcomes that should be the core focus of all your future communication with this group. Secondly, think about the routines of their day-to-day lives and how this communication will be best received. Do they frequently read the paper? Do they spend a lot of time in the car listening to the radio? When searching for news and entertainment, do they turn on the television or pick up their iPad? Are they likely to be active on social media platforms and, if so, which ones? This type of analysis is essential to ensuring that you choose the right vehicles and mediums to capture their attention.

Keep digging.

At this point, you’ve established a solid foundation of knowledge about your target audience. But if you dig a little deeper, you might uncover additional information that will allow you to sharpen your approach even more. Now that you’ve segmented your market and gained an understanding of what drives your customers, see if you can identify which group or groups offer the most marketing bang for your buck. For example, of all those who are most likely to buy your products or services, which groups represent the most profitable? In the B2B world, these are usually the clients with the greatest longevity or those who utilize services with the greatest profit margin. Also, who are the customers or clients that send you the most referrals? These are your very best customers because they do the work of selling for you, so make sure you are not only reaching your existing customers who fall into this category but also others like them because they represent a group whose needs you are particularly good at serving. Finally, it would be a mistake not to examine who your competitors are targeting. This is not so that you can just copy their strategy and run with it. To the contrary, what you’re really looking for is any gaps in the market that they might be overlooking so you can swoop in and grab these underserved segments.

Put your target to the test.

Now that you’ve identified your audience, it’s time for the rubber of your marketing plan to hit the road of execution, right? Not so fast. You need to put your construct of your target audience to the test to ensure that it’s one that can sustain and grow your business. This process is often called a SWOTT (strengths, weaknesses, opportunity, threats and trends) analysis. Ask yourself the following questions:

• Are there enough people within the audience you’ve identified to support your business?
• Can they afford your product?
• Will they see a legitimate need for it?
• Where do your prices fall in regard to their expectations? Too low? Too high?
• Are there opportunities to upsell other related products or services to this group?
• How much competition already exists in the marketplace for this group?
• Are there any trends you can identify of which you should be taking advantage?

While the process of identifying your target audience may seem complex, these steps hold the keys to competing effectively in today’s marketplace. When you clearly understand who buys from you and why, only then can you find the channels they frequent and become one with your tribe. And wouldn’t you rather own your target market than merely shoot arrows into the dark, hoping one will land?

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How GE and Jeff Goldblum Can Help You Harness Your Light Bulb Marketing Moment

Do you want people to remember your company or your product? One of the ways you can achieve memorability is by using humor. Make someone laugh and you make an impression on them. Make an impression on them, and you are well on your to achieving memorability.

When I speak with companies about the value of using humor in their marketing, the objection I most often hear is:

“Our company / service / product just isn’t funny.”

This is a legitimate comment. After all, some products or services lend themselves much better to humor than others. A website for a company selling inflatable bouncy castles is much easier to make “fun” than an ad for an accounting firm. Still, I believe that many companies are convinced they cannot be funny, yet they have never really tried to do so.

Making light bulbs funny

Would you consider light bulbs “funny”? Probably not, but as a recent ad released by General Electric, and featuring actor Jeff Goldblum, shows, even a product as commonplace as a light bulb can use humor in its marketing.

In the ad, Goldblum plays a fictional “Famous Person” named Terry Quattro who extolls the value that good lighting has had on his career as a way to promote GE’s Link light bulb. The ad itself is hysterical and already going viral. Within days of being released, it was already well over a million views on YouTube. This is humor being used at its finest, but the video also does a wonderful job of promoting the product!

Watch the video and you will find that, between the silliness and humor, the writers have done a great job of explaining the value of these light tbulbs, including a low cost ($14.97) and long life (22 years). By wrapping those important messages along with ridiculous scenes that you can’t help but laugh at, they have created something unique and memorable. If all this ad did was explain the value of the light bulb, it would not stand out in any way, but by using humor, the writers and GE have created a fun spot that also does a great job of selling their product!

Sharing the funny

Besides being memorable, marketing that is genuinely funny also has a great shot at being shared by people who have enjoyed that ad.

After seeing the General Electric video, one of the first things I did was to share it on my social media accounts with my friends and contacts. This is par for the course these days. When someone sees something unique, or interesting, or amazing, or funny, one of their first inclinations is to share it with others. This is powerful because it allows your content to spread faster and reach a wider audience. Unlike online ads that are easily ignored and passed over, a shared piece of content, whether it is a video, an article, or some other kind of content, resonates with an audience in a stronger way. This is because that content is often being shared by someone they know, as opposed to being delivered via a faceless ad network.

If I am looking at my Facebook page and one of my friends shares a video and declares that it is “awesome” or “hysterical”, there is a much greater chance that I will give that content a chance than I will if I see it randomly advertised in the sidebar of some web page.

By using humor in your content, you give yourself a chance at being shared, and by being shared, you give your content the best chance to reach the widest audience.

Focus on the situation, not the product

One of the ways that General Electric was able to make an ad for light bulbs funny is by not actually trying to make the product itself funny. Instead, they created a comical situation and a character that introduced the humor to the ad. This ends up being a much easier road to travel than struggling to make a product like a light bulb comical. By placing that product in a comical environment, they still achieve the end result they want – an ad that makes people laugh and encourages sharing.

The aforementioned objection that “Our company / service / product is not funny” can be neutralized using the same approach that GE did for their Link light bulb. If the products or services your company offer do not naturally lend themselves to humor, think outside of the product’s box and take a cue from how GE solved this challenge.

You are not GE

OK, so one item that must be addressed here is the fact that your company is not General Electric and you likely do not have the resources or marketing budget that they have. GE was able to get writers Tim Heidecker and Eric Wareham, best known for their comedy work on the Cartoon Network’s Adult Swim show, to create this ad. GE was also able to secure the talents of actor Jeff Goldblum for this spot. This company has the ability and money to secure these talents, but if you don’t, will this still work for you? The short answer is yes. While your ad may not have the same instant viral exposure that a Hollywood actor and a team of seasoned comedy writers can bring to the spot, that doesn’t mean you should abandon the idea of humor altogether.

If you work with a marketing or web agency, talk to them about your willingness to try introducing some humor into your marketing. Maybe there is one particular product or service that you can test it with, the same way that GE is using humor for this one product (as opposed to for their entire company). Brainstorm and think outside of your comfort zone a bit to see if you can come up with some ideas that will work for you.

Enhance your lighting

GE’s “Enhance Your Lighting campaign is an excellent example of a company and a product that wouldn’t readily be considered “funny” finding a way to add humor into their marketing. Check out the video and see what you can learn from what General Electric has done here. Connect with your marketing team to see how you may be able to use humor to increase the memorability and shareability of your next campaign idea.

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