They need to like you, trust you and know you
People will buy your product when they like you, trust you, know you, and want to buy what you are selling before you even ever try to sell it.
The mentioned sentence is much deeper than it appears. We will talk about this soon in the next classes.
The point is that you will achieve greater success by selling to your targeted market that intents to buy things from you.
People are buying solutions. Not products.
No matter the product you have, you need to remember that people are not buying products but solutions, dreams, and emotions.
Imagine you sell weight-loss products.
One needs just to look good for one’s partner. One is preparing for a wedding. The other wants to be healthy, or maybe he just likes the taste of your product, and losing weight is for him a side effect?
The number of variations should not scare you.
It should set up you positively because it increases the opportunities of redefining your offer while having one product on the shelf. Isn’t that cool?
Above all, people buy solutions, which means you’ll need to know what problem they need to be solved.
Target Market With A Pencil And Google Reach Planner
Identifying your target market might be tricky, but fortunately, this process can be structured and presented in the form of steps.
Firstly, you will identify your customer as the so-called “persona.”
Secondly, you will use Google Trends and Google Reach Planner to verify the numbers.
Identify Your Business Personas
Defining the so-called “Persona” is breaking down the market into smaller groups which you will be targeting.
These groups define customers having similar “features” or “attributes”.
For example, if your target market is entrepreneurs who want to increase sales, your segments can be:
- Entrepreneurs with a year revenue below $1M
- Entrepreneurs with a year revenue between $1M and $10M
Additionally, you can narrow each of these groups even more.
For instance, you will be targeting only “Entrepreneurs with a year revenue between $1M and $10M located in the New York City area. Additionally, they are sole owners of the business. They are on the market for more than two years and have plans to expand into other markets”.
As a result, the beauty of this is that you can have as many segments as you want – yet having the same product. Furthermore, having this structured will help you to adjust your message, your distribution channels, your pricing, and ultimately it will reduce your outreach costs.
Remember, a product is not an offer!
Common Segmentation Types
Four common segmentation types include:
- Geographic segmentation – it is based on location, such as state, city, a radius around your store location, street addresses.
- Demographic segmentation focuses on gender, race, and age, marital status.
- Behavioral segmentation describes the benefits customers receive and explains how they use products and services. You can group customers around your competition and find out what they like about the competitive product and what is more – what they do not like about it.
- Psychographic segmentation considers attributes relating to personality, values, political preferences, attitudes, interests or lifestyles
Answer the vital questions
To describe your potential customers, you need to answer the following questions:
- How old is your ideal customer?
- What is the gender of your customer?
- What is the race of your customer?
- Is your product or service dedicated for men, women, or children?
- Do your customer is a single, married, or lives with a partner?
- How much money do they make?
- Are they homeowners?
- Where does your target market shop?
- What do they do for a living?
- Where do they live?
- What type of education do they have?
- What problems, needs, or wants do they have that your product or service will fill?
We are attaching a template “Your Business Persona Description.” Please use it accordingly to write down your findings.
Verify The Volume Of Your Audience
Firstly, it is essential to check if there is an audience for your product or service. And what is more, if there is the right volume of your customers.
I want you to use Google Trends and Google Adwords to perform our activity.
Use Google Trends
- Open Google Trends And Type A Keyword Or Phrase Corresponding To Your Business.
- Click Search Icon.
- You might see two things: the long-lasting trend and Interest By Subregion.
- It is crucial for the next step when you are going to check the potential audience outreach. Keep this tab open.
Verify the potential audience volume with Google Reach Planner
- Open Google Reach Planner or
- Use a Reach Planner option from Tools&Settings in Menu Bar.
- You will see a prompt screen explaining the steps to follow.
- This is a tool for planning campaigns. Nevertheless, we will use its features to collect information about a potential reach.
- Click “Create Ad”.
- Next, you want to set your goal. It is vital to choose this as it determines your audience.
- In our example, we are setting online business; therefore, we will use the option “Get more website sales or sign-ups.” Once you are ready, click the “Next” button.
- Now, Google will ask you to define your business name and the URL to which the traffic should be directed.
- Click “New Business” button.
- Type the name of your business and URL related to it.
- Do not worry if you do not have a page yet. At this stage, you can type whatever exists. We aim to check the audience volume and not to set the whole campaign. Having real data will be crucial once you set up an ad campaign for real. You do not want to drive traffic to your competition.
- Click “Next” button.
- Please define your customers’ region.
- You can choose a radius around a given location (useful when you have a physical store) or set specific areas.
- We choose the second option and fill the areas we received from Google Trends.
- You might notice that at this point, Google estimates the number of people available in these locations. Once you are ready, click “Next” button.
- Now, the best part. You are going to narrow your target audience.
- Type keywords that are going to drive traffic to your business and which describe your business the best.
- If you type one and click Enter, Google will assist you with similar keywords your customers might type in the search engine when looking for a product or service you are going to offer.
- You’ve noticed that our potential audience volume has been limited.
- For now, we are going to stop further exploration. In case you are curious, the next steps are about defining your campaign ad description and budget. Don’t worry. You will learn about this within the course of future lessons.
P.S. If the length of this article is too long, please find the wrap-up of what this post is about.
- Firstly, you have learned the difference between product and offer.
- Secondly, you understand the unlimited possibilities coming from a proper definition of your offer and the target market.
- Finally, you can define your ideal business Personas.