You should also consider the importance of identifying your target market. It will enable you to:
- Focus your marketing efforts. Rather than spending enormous amounts of money trying to reach everybody with primetime TV spots, you can spend much less by focusing your marketing effort only on those people in the demographic that actually buys your products. You want to be like a laser beam, tightly focused on your target, rather than like the incandescent light bulb, shining off in all directions.
- Avoid overgeneralizing your potential customers. Despite the seeming compatibility of your message with the entire range of people that will potentially buy your products, they are in fact all driven by different motivations. The deeper you go in identifying your target market, the better you will become at marketing to each of these sub-demographics. The furthest you can possibly go with this is meeting and marketing to individuals, which is exactly what some direct marketers do.
- Promote messages that resonate with your audience. The better you know your target audience, the better you are at speaking to them. People can easily pick up on your lack of familiarity with them and their values, and they will treat you with suspicion when you try to sell them something.
Finding the market for your business can be a struggle, but it’s generally well worth the effort. You do need to market your products to an audience, and it’s logical to make your marketing campaigns as focused as possible to avoid blowing your advertising budget on unproductive exposure. You will also have other companies competing with you to capture as much of the market as possible, so the closer you can get to the people who actually buy the products, the better off you will be.