Target Marketing

Regardless of what media you attempt to use, the idea of target marketing is going to dominate your thinking. A target market is exactly that: a segment of the population that could be in the market for your product that you wish to target with your marketing message. In my book, target markets are broken into two broad categories. It is good to think about both, but in the end, Web2.0 will diminish the importance of them. You’ll see why.

Demographics

Demographics is the classic concept of the target market. “I’m looking to talk to women aged 35-54 with household incomes over $75,000, two children and a professional career”. You can choose those things, and they might deliver you a woman who would be interested in joining your Yoga studio.  You will miss the woman who doesn’t have kids, or the woman who is divorced and only making $65,000 a year. Your goal, however, is to hit the most LIKELY candidate for your product, and demographics  let you do that. It is a way of focusing your marketing dollars in one area, instead of spreading the message so thin nobody actually notices.

Psychographics

This is where the fun begins. Let’s imagine you’re still doing the Yoga studio, but what you realize is that 94% of your clients all eat organic food. There is no intrinsic relationship between organic food and Yoga, but the psychological link there is, nonetheless. By using psychographics, you can now target women aged 35-54 who are interested in organic foods, and you may have a MUCH more focused audience for your Yoga studio marketing.