7 Reasons Knowing Your Target Market Is Important
Here in the southern U.S. we have a saying, “Don’t be a stranger.”
It means a number of things, but mostly it means don’t lose touch. People say it when they want the other person to keep in touch with them, either in person or at the very least through phone or Internet.
“Don’t be a stranger” is also good advice when it comes to the target audience that you are trying to market a product too. It’s important to stay in touch with your target market, keep up with what’s going on in their lives, and understand their needs.
In fact, being a stranger to your target market is one of the quickest ways to lose business when it comes to your target market.
Here are 7 reasons why knowing your target market is important for PRs and marketers:
- Keeping yourself aloof from your intended customers transmits that you don’t care about them–a message you definitely don’t want your customers to receive.
- Your customer is changing, which means that you must change too–but you can’t change if you don’t keep in touch with your customer.
- Your customer’s needs are changing and you need to find out how. What your customer wanted and needed yesterday is likely not the same as what they want and need today.
- Customer service is dwindling among most companies–don’t let your company be one of them. Sadly, most companies have moved toward impersonal transactions.
- Community-based marketing efforts are quickly replacing traditional marketing through print and broadcast advertising. Online communities are driving sales.
- Without understanding your target market, you are likely to offer the wrong product at the wrong time. This mismatch could be quite costly.
- If you don’t stay in touch with your customers, somebody else will–probably your competitor.
What all this means is that knowing your target market is more important than ever before. Customer interaction, demographics, focus groups, and customer service are as important as ever. Don’t make the marketing mistake of thinking that being impersonal is an improvement to your business.
What is your marketing strategy? Are you staying in touch with your target market, or are you being a stranger?