Whether you call them your consumers, your market, or your buyers, they are the lifeline to the growth of your business and profitability.
As an entrepreneur who is goal-oriented, you want to know how your preferred audience spends their time, are they single, male, or female? Do they like going to the movies, or hanging with friends? You may not think you need to know all of these attributes, but trust me, you need to know to understand what is necessary to attract them. The more you know them, the better you are able to create your marketing strategy and position yourself in the marketplace.
So now, let’s look at your current customers. Do you know why they buy from you or come to your event? They have certain characteristics and interests and when you know them, they will help direct you to more of the type of people you want purchasing from you or attending your function.
So, let’s start with age, gender, education, religious preferences, and race.
When I first started out, I did not pay attention to the people who were coming to my functions, though I saw the percentage divide. But as I grew within the business, I realized the need to know so I could market to each differently.
For example, some people may think that Walmart and Target are the same…they have similarities but are different. Some people prefer Target, while others prefer Walmart; there is a reason why. You need to know who loves what. For the most part, people who shop more at Walmart than Target, prefer a discount, they are concerned more with pricing. While those who love Target, consider it to be more of an upgrade; that alone will help you evaluate your target audience.
Evaluate yourself, which place do you prefer…Walmart or Target and ask yourself…why?
I love teaching and bringing information that will make an entrepreneur think past the everyday norm, to doing research and getting out of their own fish pond. If you are game, I’m here to help you expand your territory.