Once you understand the defining characteristics of your existing customer base, you can go after more people like that.ĭepending on how someone connects with your business, you might have only a little information about them, or a lot. Compile data on your current customersĪ great first step in figuring out who most wants to buy from you is to identify who is already using your products or services.
Target market segmentation ensures the company reaches the right audience with the right message. Vegetarians and meat eaters have different reasons for eating plant-based burgers and want different things from the experience. The target market segment for this ad campaign was “meat eaters who haven’t yet tried Impossible products.” Posted by Impossible Foods on Wednesday, April 14, 2021 That’s why Impossible Foods’ first national advertising campaign was definitely not targeted at me: But vegetarians are a surprisingly small target market segment for Impossible Foods: only 10% of their customer base. But you can be different things to different groups of people.įor example, as a vegetarian, I’ve eaten plenty of Impossible Burgers. Remember - you can’t be all things to all people. It allows you to create a more relevant marketing message for each group. Target market segmentation is the process of dividing your target market into smaller, more specific groups. You need to go after the people who really want to buy from you, even if they’re not the customers you originally set out to reach. Your target market should be based on research, not a gut feeling. You can’t target everyone, but you can sell to everyone. People who are not included in your targeted marketing can still buy from you-they’re just not your top focus when crafting your marketing strategy. This is all about targeting your marketing efforts effectively, not stopping people from buying your product. You can start with broad categories like millennials or single dads, but you need to get much more detailed than that to achieve the best possible conversion rates.ĭon’t be afraid to get highly specific. The more clearly you define your target market, the better you can understand how and where to reach your ideal potential customers. They are the people who are most likely to buy your products or services, and they are united by some common characteristics, like demographics and behaviors. What is a target market?Ī target market is the specific group of people you want to reach with your marketing message.
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Bonus: Get the free template to easily craft a detailed profile of your ideal customer and/or target audience.
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