Key essentials to defining the target market for your eCommerce business

 

 

Knowing which audience to target with your products or services is going to help a great deal in drawing down a strategy plan on how to proceed moving forward with your business, given the current state of the economy, knowing which customers are attracted to your products is important, trust that no one can afford to target everyone, yet small businesses can effectively compete with large companies by targeting small yet specific group of individuals.

Targeting a specific group of people or segment doesn’t necessarily mean to disregard people who don’t fit your strategy plan, but it allows you to focus your investment on a specific market and segment that is more likely to engage with your brand and business model, this is a much more affordable, efficient, and effective way to reach potential clients and generate business quickly and efficiently and to build a loyal customer base.

With that in mind, it is a lot easier to determine where and how to strategize your steps and here are a few tips to help you define your target market and to maximize your online sales.

 

 

Regular check-up on your followers and your customer base

Who are your followers and what interests them in your product or service?

Look for common traits among them, which ones frequently order or enquire about your products? Which product from your store do they buy the most? Who are your most loyal and repeated customers?

These questions are important, and they help you make smarter decisions moving forward, Your online store dashboard on zVendo offers these insights plus Google analytics as well.

Surveys will help a great deal in collecting customers’ common interests and feedback on your product or service.

 

“The most important thing in communication is hearing what isn’t said”

Peter Drucker
American-Austrian consultant
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Be where your customers are

One of the important points of managing a successful business strategy is thinking like your customer, that way you will be able to focus on a specific target and drive more sales. However, there are ups and downs to this, let’s start off with the downside of thinking like a customer, If you allow yourself to overthink like a customer you might actually start losing sales by becoming too understanding and sympathetic, eventually, your product may actually become too perfect and too valued that a specifically limited segment of customers would purchase it.

Yet, successful salesmen work on enhancing their understanding of their customers’ needs, it takes effort and skill to adapt to someone’s mindset, instead of focusing on how you’re going to get customers to do what you want, you switch to letting them know you’re on their side and your objective is to help them reach theirs.

So now that we know how it can backfire, the perfect balance is the key and the workarounds here are a couple of tips on how to simply figure out what your customers need:

1- When a business is starting, social media marketing is essential, you would want to exist on every platform and not to miss out on any potential engagement. This could be a little overwhelming and less productive since you will be distracted by managing different types of platforms and some of them might not be getting enough engagements, instead, find where your consumers are if they’re spending more time on Facebook for example, instead of Instagram then so should you.

 

Some brands like clothing and apparel will work more on Instagram, also if you’re targeting an audience younger than 30, Instagram will work better for you.

2-In Social Media, It’s important to be social and relevant, customers may lose interest if you don’t keep them engaged, this is why it is important for you to find out what’s trending between your consumers and discussing it, this is a great way of showing your audience what your brand is about in an engaging and fun way to Have them connect with not only the brand but the human behind it, someone who understands them rather than a machine sending out automated messages.

 

 

Keep an eye on your competitors

Focusing on your market is important, however, you also need to keep in mind that you are not likely the only one providing this service/product and that others will strive to reach the top before you do, so it’s better to experiment first with a niche market that will promise more loyal customers, a faster conversion time, and a better brand awareness.

Keep in mind that establishing your unique selling proposition will help a great deal in moving faster than your competitors.

 

SWOT analysis and TWOS matrix will help you figure out your strengths and weakness, which in turn, can save you a lot of time.

 

 

Experiment with multiple interests 

Don’t narrow your circle by choosing one or two similar traits that your customers have, for example, you can use age, occupation or lifestyle, a simple example is if your services include bookstore supplies such as notebooks or pens, etc. you can prioritize students regardless of ages whether they’re high schoolers or college seniors.

 

 

Experiment with different methods of approaching new customers

Try adding a new product that you wouldn’t normally provide, this is a low-risk high reward approach of testing whether your current followers would express interest in anything new that you have to offer, and if you didn’t achieve the expected results it can still cater to a newer audience different from the one you had before.

In the end, it all goes down to who would benefit from our services the most and trying to reach them at the right time using the best approach while also slowly trying to cater to a wider audience to maximize your sales.

 

 

 

For more information, contact us.