Do You Know These 5 Things About Your Market? You Should!

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To be successful with any digital marketing tactic or plan, you need to understand your market. The more you know about your potential customers, the more you can target them with things like social media, blog posts and ads.

There is a variety of ways you can do market research, from doing surveys to analysing site traffic reports. As you conduct this research, it is important that you find the information you need to plan better digital marketing strategies. Here are five things you should know about your market.

Who is in Your Market and Basic Demographics

First, who is in your target market? What kind of people are you trying to reach? Come up with a list of characteristics and demographics that describe your target market. Some of these factors you can probably identify right away, but it is always wise to do research to find out things you don’t know and to make sure what you assume is correct.

Online Habits

When it comes to digital marketing, it is absolutely vital that you know your market’s online habits. You need to know what kinds of websites your potential customers visit (social media or otherwise) and what they do online. For example, one demographic may visit news sites and blogs more frequently while another group may get online mostly to use social media and communicate with friends. Finding out about online habits can help you determine where you can reach your market.

Motivating Factors

Knowing what motivates your market can help you reach it more clearly and be more persuasive. Understand what is important to your target market and what kinds of things help your potential customers make decisions. One common motivator is family and friends. If you run a life insurance agency, you may find that your target market is motivated by the need to care for family, and your marketing messaging and tactics should include this motivator.

The Draw

Why should your target market want to do business with you? If you don’t know what you have to offer your customers, your marketing won’t be very effective. Thinking about who your market is, what motivates it and what your business strives to do, you can determine what you can do for your market, or why people should want to do business with you. Knowing what draws your market to do business with you, you can more effectively create blog posts, social media messages, videos, ads and any other tactic that speaks to your market and encourages people to become customers.

Challenges and Hesitations

Next, you need to know what kinds of challenges you may face as you promote your business to your target market. What, if anything, will make it difficult for you to reach and persuade potential customers? It is also helpful to know if your market is likely to have any hesitations when it comes to accepting your messaging and becoming customers. When you understand these challenges and hesitations, you can plan for them and find ways to overcome them so they don’t interfere with your marketing plan.

Understanding these five characteristics about your market can help you create even more effective digital marketing strategies so your promotional efforts, and your business as a whole, will be more successful.