We sponsor, and I present a session on marketing at, the University of Wisconsin-Eau Claire’s Entrepreneurial Training Program; my session is on marketing. When I first spoke with the program’s director about the program he pointed out that one of the major missteps that he saw from participants was that they too broadly defined their target audiences. They generally felt that their products or services appealed to “everyone.” He was right. When we go through introductions I ask the group to share what their product or service entails and who their target audience is. Invariably, without exception, each person’s audience is extremely broad. We then go on to talk about the marketing process, including the importance of clearly–and narrowly–defining the target group.
At the outset, business owners need to clearly identify who their target market is. Small business owners, in particular, have a tendency to cast a net that is too wide–they think everybody is, or could potentially be, their customers. I don’t blame them; we all have the same tendencies. But, effective marketing involves segmenting the broader audience into smaller groups that share similar interests and needs. That sets the stage for being able to effectively select the right media and create the right messages to resonate with your audience.
- College athletes
- Young parents on a tight budget
- “Foodies”
The New Rules of Marketing and PR
Tags: Marketing, segmenting, Strategic Planning, target audience, targeting consumers