How do I Choose the Right Target Market?

The Right Target Audience

Marketing dog food to a family which doesn’t own dogs would be silly of course. You know your target market is important in creating an effective marketing campaign. When business owners are asked who their audience target is, many businesses may say “everyone” or “anyone interested in our services”. These targets are too general and let’s face it, you won’t be able to please everyone. Targeting a specific audience means you focus your marketing dollars on an audience who is more likely to be your customer. A good starting point is looking at your current customer base and finding similarities, characteristics, and interests between them.

Audience choices are made based on your goal, If you are looking to build brand awareness, a wider audience is best along with a media platform which can reach a wide, yet relevant audience. If the goal is to launch a new product, engaging your current client base is probably your best bet. If the goal is to get new customers to make purchases, it is important to focus on the ideal customer. However, when choosing your target market, keep in mind your audience demographics; age, gender, income, education, marital status etc. Also, consider personality characteristics, including; behavior, lifestyle, values, and attitudes.

For example, a construction company could choose to market to homeowners between the ages of 34 and 54 with incomes of $90,000 – plus in Omaha, Nebraska. To define the market even further, the company could choose to target specifically those interested in kitchen remodeling and bath remodeling, and possibly even those in older homes. This market can be broken down further but, by doing so, the market could become too narrow and exclude potential customers.

 

What is your Goal?

You may be asking yourself, “Where can I find all of this information?”  Try searching online for research others may have done on your target market. Explore magazine articles, blogs or forums. These are all excellent mediums to discover the opinions of your audience. You may even consider looking at your competitors’ target market looks like, maybe based on their marketing creative, to narrow down what you are looking for in your ideal client or how you can differentiate your target market. Not finding the information you are looking for? Conduct your own survey, ask current customers for feedback.

Once you have defined your target audience, it is easier to figure out which media choices (link to Buying Media blog) will fit best to reach your market and how they will remember your brand. Nonetheless, having a defined target market will be a greater investment for your time, energy and money.

Organic Search Ranking and Credibility to the Consumer

What are your customers searching?

“Brunch restaurants nearby”

“Breakfast food near me”

“Where’s the best brunch in Portland?”

Nowadays, search engines seem to solve all life’s hardest questions. And, if your business has a website, you obviously want your website to land at the top of the first page when a potential customer searches for what you do. But oftentimes, business owners don’t fully understand search engine optimization or how to improve their rankings to give them the best chance to be on the first page.

Organic Search Ranking

Statistics show that internet users search more than 3.5 billion queries every day. For your website to be the top results, a combination of attributes need to be in your favor. Everything from page headings, loading speed, mobile optimization, html codes, and many other factors play a part in how soon a consumer will see your brand’s website in their search results. Because of this, it’s important to fully understand how best to create your website and enhance your content for optimal results, or have someone on your team who does.

Another way to improve your search ranking is to have customer reviews. A recent survey reported that 73% of consumers trust a local business more when they have positive reviews. Also, a consumer will read a minimum of 7 reviews before they trust a business. So, the more Yelp, Facebook, and Google reviews you have, the more relevant your business becomes to the specific search. You will increase your chances on being on the first page simply for having more reviews.

An example of the significance of reviews could be making a purchase on Amazon. The average consumer is more likely to buy a new bike from a business with 70 positive reviews than a business with 1 or 2 reviews total. Reviews provide credibility and depth to a business. Finding an effective way to promote your customers to leave good feedback on line is an important part of business today.

The next time you’re doing a Google search, notice what factors you consider when selecting a search result for a local business. Understanding how you (or others you know,) search and make “buying decisions” is important in understanding the importance of getting to the first page on the search engines.

Why One Size Fits All Doesn’t Work

Our Team’s Perspective

Have you ever completed a puzzle? The feeling of snapping the last piece in place is a sigh of relief. But imagine getting down to the last couple pieces, and realizing they were lost along the way? That is exactly how it sounds to me when a business owner has an epiphany about the importance of active marketing. They either don’t have any marketing, or there is no way of measuring the effectiveness of their current marketing. That’s where Louvre Media fits into your custom business puzzle.

Man and woman hands trying to connect puzzle pieces

All puzzles are different in the same way no two businesses are the same. Marketing needs to be customized, defined, designed, delivered, and cultivated. For small and medium sized businesses, the one-size-fits all model doesn’t work, and automation becomes a hindrance rather than a perk.

Go sit down with any marketing agency about your small business’s marketing needs and they will say, “Okay, we have three packages – Package A has this, Package B has the same thing but it’s better, and Package C is our premium package which actually has what you need and is wildly overpriced for that reason.” They probably won’t say the last part there, but most likely it’s true. If they do have a package that works for your business, it probably includes tools that you won’t even use. At Louvre Media, we offer the whole package.

The whole package is designed for you, knowing that your business is unique and has different needs when compared with any other business. Even franchises are different from each other, believe it or not. My favorite part about meeting a new potential client is that I know, no matter what their needs are, I can come up with a solution and a plan that works with their goals in mind. Have a small budget? I can work with that. Don’t know what marketing is, but know you need it? Great! I can get the ball rolling to help your business compete with the big guys. I’ve bought billboards, magazine ads, newspaper flyers, and done countless newsletters, social posts, and so much more. We always say, “if we don’t do it already, we’ll learn how for our clients.”

I’ve been with Louvre Media for more than a year now and I can’t wait to keep learning! Work is a place I love to be now. Every day brings new challenges and fun ways for me help businesses grow and build a foundation. I can easily recommend Louvre Media’s marketing to any business owner because I know that it works and that I have a great team to back me up. We’re the whole package!

~ by Superstar Account Manager Adelaide

What is the Right Marketing Mix

Marketing mix- what’s right for your company

 

Breaking egg on the edge

Balance. In a marketing plan, choosing the right balance of media will ultimately steer the course of how effective your advertising will be.

Choosing the right media mix may be tricky, and there are multiple factors to consider.

  • How much of the marketing budget needs to go to direct leads?
    (Internet- SEO, SEM, SMM, Phone Books, Industry services, etc…)
  • How much of the marketing budget needs to go to branding?
    (TV, Radio, Billboard, Newspaper, Magazines, Community activities, etc…)
  • How much of the marketing budget needs to go to promote your business to existing customers?
    (Promotional items, communications via phone or email, etc…)

 

PLAN, IMPLEMENT, MEASURE, STAY CONSISTENT

Questions on how to measure your marketing? Give Louvre Media a call to have this conversation.

The secret isn’t always in the plan- but having a plan is the first place to start. The plan should include expected results for each media and have measurements in place to quantify the results. This may be tricky, especially if your business is a retail business, as marketing may increase sales but maybe not enough to measure. If you stay consistent with measuring your marketing, you will find trends within the data to help make better decisions going forward.

The portion of the marketing budget to market to existing customers should stay constant. As the business grows, the amount (by percentage) should remain the same. As business are expanding more of the marketing budget should go towards branding, especially once you have a good flow of new customers coming in from your directing marketing efforts.

As a business settles in on the right mix, new media should be tested, either using additional market dollars available from increased sales or from what is believed to be the lowest producing of your marketing choices, as there may be better marketing to continue to improve your ROI.

When you make the plan, implement it, measure it, and stay consistent with it, you will find yourself well on the way to improving your marketing and your marketing’s ROI, as well as your sales.

Marketing & Advertising

Is There a Difference?

The real answer is yes. There is a difference between marketing and advertising even though these two terms get intertwined in their use. For many, they are used interchangeably without any problem in context to the conversation.

Our tag line: “Better Marketing for Better Business” is a part of our mission statement, and then we further identify ourselves as an advertising agency. This is because we do both – marketing as well as advertising. On a high level, marketing is the overall process – the strategy for growth for the coming year(s), identifying the target customer, as well as market research. Advertising is about the campaigns and decisions about which media to purchase (media planning), as well as the purchasing of the media, and the creative, which includes the words and graphics to be used.

Below you will find a definition of both, if this interests you. Keep in mind, people may use these marketing and advertising synonymously.

Bright idea for business growth
Marketing & Advertising – What’s the Difference?

Marketing is……

Marketing is the big umbrella, which everything else falls under. It is the overall process and involves first identifying the objectives of the business, and then planning the strategy to meet those objectives. Marketing then will establish metrics, when possible, on how to measure the results to see if the actual plan is accomplishing what it is intended to do. Is it driving the desired/anticipated results? Specific functions in the marketing arena may include market research, content marketing (what is the message), and then working to purchase the media – which may be done in house or through an advertising agency.

Advertising is…..

To put it simply, advertising is to get the end user (consumers) to purchase the product or service. To get them to buy something, or buy something more often. It facilitates the brand awareness, and depending on the company, will either purchase the advertising within the company or utilize an advertising agency to make the purchases on their behalf. Media planning, media buying, and artwork creation may fall under the responsibilities, as well as finding ways to creatively get the message out to consumers. This could be television, radio, newspaper, or the internet.

Search Marketing (SEM)

Search Engine Marketing (SM or SEM), also known as Pay Per Click (PPC) or sponsored ads, drives additional traffic to your website and puts your business in front of potential customers looking to make a buying decision.

So what’s the big rave with SEM? It can bring a business web traffic immediately! It’s targeted and it has measured results so you know exactly how your ads are performing. An effective campaign draws traffic to your website, calls to your business, walk in traffic, or all three, producing leads and sales. It provides targeted keywords, guaranteeing you visibility when consumers are searching for your business.

Search Marketing in the broader sense is making your business available online where it makes sense to appear. In addition to PPC, there are display ads on various websites and mobile platforms, online listings, and online directories. Search Marketing is about getting a business in front of potential or existing clients when they are ready to buy. It also is used as an effective strategy to drive your brand and make your overall marketing work better.

For each client, we look to see if Search Engine Marketing may have value for their business and how it can fit within their marketing budget. We take a hands-on, old fashion approach to driving internet search results for our clients to make sure they are being reviewed by a human, not just a computer.

When we first work with our clients we look to understand their local marketplace. Then we evaluate how our client is positioned in that market.  We look at the traffic for what they do and define the market opportunity that exists. The first month we are consistently monitoring the traffic/results to make improvements and get as much good traffic as we can. Each month we continue to review as the market/competition online may change affecting the results.

We’ll manage your program and get you results! Whether it is about protecting your brand or generating new customers we create the right message for both, bringing your company measurable results.

Search Engine Marketing (SEM) blog