Target Customers with a Limited Budget
Do you say, “my target customer is Everybody“? Realize, “you can’t boil the ocean.” In other words, there are limitations to everything, and budget is a big limiting factor in finding your target customers. There are some customers who frequently use sites like Raise to find coupons and promo codes and there are some customers who don’t bother with coupon codes all together. Whatever the preference, no customer is the same.
Targeting potential customers, in general, without details and specifics, works great if you have an unlimited budget. By defining your best customer and focusing on more specific details such as demographics, behaviors, and truly understanding the needs and wants of your customer is much more efficient and cost effective. Further define who is not your customer, as the non-ideal customer can be a drain on resources. Realizing that not everyone has the potential of becoming a customer leads into profiling the characteristics and interests of those who are. This is the group who are good long term frequent buyer customers.
Know that customer. Know them well. Knowing what is important to them, and knowing their common interests goes hand-in-hand with why they are, or why they will be your best customer. Your company having ties in the same community, for example, can lead to relationship building and trust. The feeling of connection with your customer often goes further than the message of advertising the ‘lowest price’. Emotion plays a huge part, and you are not going to bond with everyone.
Make the best use of your marketing budget. Spend the time to really know who your customer is, and then focus on them. A smart strategy can attract your new best customer versus wasting time trying to ‘boil the ocean’ to get everyone as your customer.
Would you like to learn more about defining your target customers?
