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Identifying Your Target Market
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So how does one go about tipping the scales to turn prospects into buyers Well, the answer really lies in focusing your efforts on the right type of prospect. Marketing gurus call this process identifying your target market. Think about your ideal customer. Sure, the obvious answer is a compulsive shopper with a bottomless bank account. But since that type of person is few and far between, we ll need to get more specific here. Think about the kind of person who would be interested in your product and describe this person in detail. Consider the buyer s age, sex, profession, income and education levels, and interests or hobbies.
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Let s take the example of an eBay seller specializing in Harley Davidson motorcycle parts and gear. There s a very distinct segment of our population who identify themselves as motorcycle enthusiasts, and a subset of those riders who identify themselves with owning and riding a Harley. They spend most of their free time either riding their bikes or fixing them up. Most of these folks have lives that exist well beyond the parameters of the old Hell s Angels stereotype. However, you will note a trend in their demographic: They are mostly aged 35 to 65. Although many women enjoy motorcycles, men generally are more enthusiastic and tend to make the purchasing decisions about motorcycles and gear. There is likely a wide variety of professional backgrounds and income levels in the group; however, the underlying common denominator is that they all choose to spend their discretionary income on their motorcycle hobby. This is a target audience.
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Psychographics: The Desires That Drive Your Demographic
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Understanding the basic demographic of your target audience will answer the question of who will buy your product. But it s equally important to answer the question of why they want to buy it. Marketing pros have termed this study psychographics. And no, that doesn t mean the trippy liquid projections that Jefferson Airplane used at concerts. Psychographics is a study of likes, dislikes, and the tastes of a demographic group. It addresses the influences on and motivations behind their buying behaviors. Ask yourself what your customers will find appealing about your product. What sort of need or desire does it fulfill for them What made them decide to buy your product Are there any personal values or ideals that play into their purchasing decision
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Ask yourself what your customers will find appealing about your product. What sort of need or desire does it fulfill for them What made them decide to buy your product Are there any personal values or ideals that play into their purchasing decision
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To extend the Harley enthusiast example, let s try to journey into the mind of this person. Many motorcyclists would likely describe their motorcycling interest as less of a hobby and more of a lifestyle decision. They cherish the image of traveling down a two-lane highway, dressed in black leather, with the chrome on their bike shining in the bright sun. The bikes reinforce their commitment to ideals like individuality and freedom. Others enjoy being part of the Harley community, where they can express their common interests and be active on the road together. These are all powerful motivators, and you
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can t afford to ignore them if you re connected to the Harley Davidson market in any way. You might be thinking that your target audience doesn t seem as well defined as the Harley enthusiast. But if you take the time to address the questions posed in this section, addressing the generalized demographic of your market and their psychographic motivators, you gain more clarity about your target audience. It makes the task of marketing your products so much easier, and your efforts so much more profitable. A good example of an eBay seller that intimately knows its customer demographic is 2004 s Best of Stores winner, The Frenchy Bee. Offering fine products imported from France, this noted seller has zeroed in on the Francophile demographic. The Frenchy Bee understands the desires and demands of their customers, offering elegant and indulgent products that are difficult to find outside of France. They also know that their customers appreciate the French penchant for beauty for beauty s sake. The Frenchy Bee offers special presentation and packaging of their products, including tissue, ribbons, and small free gifts to their customers. Even their eBay Store design has a French-inspired aesthetic appeal. Figure 1-2 shows The Frenchy Bee eBay Store home page, with specific design elements that appeal to the Francophile demographic.
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