Tag Archives: Demographics

How To Avoid Sleepless Nights and Useless Social Media Postings

10.21.15There is one thing that hundreds of previous clients have not done that has cost them sleepless nights and many hours learning to use the latest social media fad, but to no avail—they haven’t taken the time to define their target market.

I understand it to a point; some people think they have already done that and don’t want to waste time doing it again.  And there are other seemingly logical reasons not to spend time defining their target market.  They get confused about how to do it.  Or, they decide that everyone in the world is their target market and they don’t want to leave anyone out.

After deciding not to define their market, their next step is to jump into the latest popular social media way to market their goods or services.  Then they spend hours learning how to use the latest fad.  They master it and boom; they find they have no more clients than they did before.

Here is the easiest way to define your target market.  It’s so easy you just haven’t thought of it.  The key is to look at the demographics and psychographics of your customers.

Demographics include: age, ethnicity, education, marital status, employment, household income, number of children, and geographic location.

Psychographics is the study of personality, values, opinions, attitudes, interests and lifestyles.  In the use of psychographics, you are looking for why your customers want what they want from you, why they buy from you.

The best way to find out about the demographics of your customers is do a simple survey.

And the best way to find out the psychographics of your customers is to interview them.  You can tell them why you are doing this and of course, anything that they tell you is confidential.  Here are some questions to ask your customers, keeping in mind that the questions relate to your offering: What do you like about my product?  What do you not like about it?  What had you buy this product?  What would have you NOT buy this product?  Ask questions that will elicit your customers’ personalities, values, opinions, attitudes, interests and lifestyles.  You are developing a profile of you target customers, and once you have that profile you will then know how to best reach them and market to them.  They will tell you how.

Taking the time to do the research to define your ideal customer will save you many sleepless nights and useless social media postings.

If you get stuck, I am here for you.

 

Your Ideal Client Is Who?

61015Once you have decided that you do want to be in business, and you have an concrete idea about what it is that you want to offer the market, you naturally will have some idea about who it will be you are offering your services to.  Your idea about who is your customer is probably vague.  Usually what I hear from new entrepreneurs is, “Well, what I am offering is good for everyone.”

No, it isn’t!

One of the most important steps that any new entrepreneur can take is to thoroughly understand his target market.  The target market needs to be specifically defined so that it loses its name “Target Market” and becomes instead a person who has a name.  Not only a name but also a photo.  And, if you want to take this concept to its ultimate height, hang that photo in your office.  No, I am not kidding.  The entrepreneurs I know who are very successful do have photos of “their people” hanging on the walls of their offices.  Every time they forget what they are doing and why, good old Shirley or Jack is smiling down on them.

So how exactly do you get to know your target market so personally and what tools do you use to do that?

The two key factors in determining your target market are the demographics and psychographics about your desired client.

Demographics are the facts about your customers that are easy to observe: age, nationality, gender, income, where they live, if they have pets, children, how many cars they own, what their income is, and their level of education.  These are the characteristics of people that are measurable and verifiable.  This is information that is available on the internet in the form of census, Chamber of Commerce reports and some Google searches can provide much demographic information.

Psychographics are characteristics about your target clients that are defined by their interests, values, opinions and behaviors.  The best way to find out the psychographics of your market it to ask them.  What works is to design a group of questions that will help you understand why they do what they do regarding the product or service you are offering—I mean finding out specifically what has them want or not want your product.  What would they do to get it?  What motivates them to actually buy such a product?

What kind of questions do you ask?

Research Google for psychographic survey questions, you will find a treasure trove of templates to help you determine your target markets attitudes, beliefs, interests, opinions and behaviors.  Many of the survey templates are free.

By spending time in thoroughly knowing the demographics and psychographics of your potential clients, you will be ahead of the curve in developing a solid business structure.