NEWSLETTER - SMALL BUSINESS

Ready... Aim... Fire! - Target Marketing

by Ken Klotz, Director, Illinois SBDC at Bradley University
Winter 2008

A company with the right marketing and the right products, but aimed at the wrong target, is like a hunter firing wildly into the air hoping that a trophy will fly by at the exact moment his buckshot arrives. Such a hunter has little chance of needing a taxidermist. Many companies employ the same method of marketing - running ads, sending direct mail and coupons, just hoping a customer flies by at the right time.

The solution is "target marketing"-aiming carefully before firing marketing bullets. Begin by building a detailed profile of your best customers. What do they have in common? Often you will find that these "best customers" can be described according to one or more of the following considerations:

Demographic Characteristics
Examples are age, income, marital status, ethnicity, etc. This type of data can be found, sorted by zip code, at www.factfinder.census.gov.

Habits or Lifestyle
This describes things your target market likes. Do they like great taste or less filling? Vivid colors or subdued? Values, beliefs and lifestyle choices are included.

Desires
Target market demands and expectations are considered here. Do they go first class on everything they buy or are they bargain shoppers? Do they value delivery and immediate availability or is it price and quality?

Activity
Typical actions of those in the target market. Do they only socially drink at dinner parties or go to bars? Do they usually frequent a certain store weekly?

Geography
Where do they live and is it within your service area? Can you only serve particular cities or counties?

After defining your target markets, all marketing decisions (product design, pricing, distribution, sales method, packaging, etc) should be specifically tailored to the target markets you identify. Once you have lined up your targets correctly, it will be much easier to hit the marketing bull's-eye.