Market Research and Your Bottom Line
Posted: December 2nd, 2009 | Author: admin | Filed under: Niche Research | Tags: audience, market, niche, research, target | No Comments »by James Pynn
You have to understand whom you’re targeting. It sounds fierce, maybe even inhuman, but knowing your target audience is knowing how to build you entire marketing campaign. You can waste money on a general ad that may or may not covert. It may not even appeal to whom you think it’s designed to appeal to.
The trials and travails of a typical marketing campaign can be the death of most budgets. What is key is getting your market research online, getting it fast, and making sure it’s relevant. If you’re trying to corner the’-30 year old male bracket, you’ve got to know if you messaging is getting to them first.
Know what you’re trying to do. Refining your marketing strategy should go above and beyond the campaign at hand. You have to think military tactics — the strategic level determines how specific campaigns will be executed. What is the greater objective? You can’t hinge your entire profit margin on one demographic. This kind of shortsightedness can kill your business. Whatever it is you offer, make sure it can be offered to as many people as possible.
While a target demographic can be a solid revenue base, it seldom generates the same numbers as two or three bases. You have to devise a marketing strategy that can be both broad and specific. This kind of sounds like a paradox, and in some ways it may be, but you have to understand the broad appeal of your product or service before you understand how to target it to specific groups of people.
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