Running your own business will only be successful if you find an audience to sell your goods or services to. But no matter how niche your business is, they are out there somewhere. And while finding them might be the difficult part, SMEs will be happy to know that it is entirely possible!
Who is your audience?
If you think your product is suitable for everyone, you probably need to narrow down the core audience to aim your marketing at. There will always be people outside of this who purchase from you, but if you want to keep your marketing as accurate as possible, start with those most likely to respond by following you and eventually purchasing.
How can you find them?
Utilizing geolocation data can help you pinpoint audience behaviors, trends, patterns and develop accurate audience insights within a specific locale. Working with specialist geolocation agencies like Mobsta on your next marketing campaign gives you the opportunity to collect and analyze this precious data, giving you the information you need to make decisions that will increase footfall in your stores and online store visits.
The cost of this can often be recovered by the money you save (and make) by cutting back on less effective marketing and refocusing more attention to an audience who are more likely to respond positively.
Research your competitors
While coming up with original ways to reach an audience is the ideal option, many marketing tactics have already been done. If you want to reach your audience quickly and source ideas for reaching them, you can research your competitors and look at some of the marketing techniques and keywords they use and where they use them.
If they have had success with a product like yours, advertising in similar circles and using the same keywords could work for you. However, don’t try to copy their taglines, designs or anything else which is specific to them and their products. The more original you can be, the more appealing your business will seem to potential customers, and you don’t want to get media attention by being on the wrong end of a lawsuit.
Who isn’t part of your audience?
Knowing who isn’t part of your audience is just as important as knowing who is. For example, if your product or service is aimed at over 60s, you might think advertising on a lifestyle website for that age group is a great idea. However, if the product doesn’t fit into lifestyle, you could waste time and money. You might get a few new customers who just happen to need your product, but the cost of marketing this way will mean little or no profit for your business.
The best option is finding specific markets to advertise, where all or most of the audience are over 60, but also have a strong interest in the category your product falls into. Your marketing may reach fewer people, but more of them will be interested in what you are offering.
Narrowing down your audience might seem like the opposite of what you want to achieve, but it allows you to talk to them on a more personal level. It also saves money on wasted marketing campaigns and leads to a higher conversion rate.