Online Marketing E-Book – Determining Your Target Market
When you wish to promote your products or services, the first thing you have to do is to determine your target market. Once target market is decided, you can then make use of the four P in marketing to decide how you can deal with your target market. The Four P mentioned here is product, price, place (distribution) and promotion.
So, why is the target market important? The primary reason is that company is present for a reason. It needs to differentiate itself from competition in order to survive. For instance if you have made a decision to sell bottled water to the general mass in the urban area, then good luck with that. In the U.S., Pepsi and Coke have widespread distribution of bottled water consumption through its Aquafina and Dasani brand. If you still insists on selling bottled water, then you have to narrow your target market.
While selecting your target market would seem trivial, it will amount to lots of marketing dollars if carried out wrongly. Let’s suppose that you don’t decide what your target market is and you’re now making use of the four P in marketing to market your goods. You’d then distribute your bottled water to places like convenience stores, gas stations and also the shopping mall. Will you capture audiences who are physically much more active than the population? Yes, you will. But, the percentage of that audience is small when compared with if you concentrate your distribution on that target market. Consequently, you spend big amount of money to capture a tiny portion of the audience. Therefore, selecting your target market is truly essential before marketing your goods.
In the online arena, you need to select your target market also. As soon as you select your target market, the four P should reflect this decision. Your marketing budget will be much more effective should you spend your money in financial website like Yahoo! Finance or The Motley Fool.
Same thing with your distribution channel. If you distribute your content to the general article directory, you’ll get tons of visitors who may not be fascinated in your products or services. Furthermore, as discussed previously, it may attract your larger competitors thinking that you are trying to detract their lunch. If your bigger competitors are not inept, they’ll then respond appropriately and kick off offensive campaigns that will make your marketing campaign useless.
Luckily, nowadays, there are a lot of niche article directories allowing marketers to publish articles of certain field. Hence, smaller publishers can gain much more visibility as niche directories generally have less people submitting their contents. In addition, larger competitors are reluctant to publish their contents there. The reason is that they have a larger cost overhead. Concentrating on little target market won’t do them any good. It is their loss. But you, my friend, shouldn’t pass up this opportunity. It’s one of the most successful ways of using your marketing dollars.
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