This post is first in the series of exploring targeted marketing.
It is very important to identify the right set of audience you got to tap in for your product. Simply putting, if you are opening a steakhouse, advertising to vegetarian audience will not serve the purpose. You need to identify who is most likely to use your product. Targeting the product to the demographic which is most likely to be your customer will lead to greater impact.
Few other factors come in picture while determining the right audience. One such factor is the current stage of the product. Are you launching a product, or the product is already there in the market for sometime? If you are launching the product, you need to identify the mavens in your industry and target all your energy in winning their support. Mavens are the community experts. They are the early adopters. Pitching the product to mavens and gaining their support is as vital as anything else. If you as a marketer are able to sell the product successfully to mavens, you have in a way recruited the best sales force out there to market your product. These passionate users serve as consultants in the market whom the masses look for before making a buying decision. If the product is already accepted by the mavens and you are looking to cross the chasm, provide tools to the mavens to push you across. To accelerate the growth, shift focus to the larger set of audience in the right demographic who normally go for the tried and tested products.
Nailing down who your target audience is fundamental for the success of a product in any market. Who element not only shapes the marketing, it shapes the product itself including the pricing of the product, the look and feel of the product and the product placement.