Web Marketing Secrets You Must Know
Today we are continuing our Web Marketing Series that we started yesterday. If you missed it, feel free to catch up on Easy steps to make Web Marketing work in your favor.
Get to Know the Market
Let talk about the market for a minute. The most basic definition you need to know is that the market is your playground. The most beautiful thing about it is that you decide where to play and when to play on it. But knowing when to do so can be a bit tricky. Getting to know the market requires that you define the audience for your product or service. Before even thinking about spending a single dollar on internet marketing, you have to identify who are (or who will be) your primary customers. There are decisive factors that will help you reach a decision, like the following:
What’s your target group?
Are you offering a product that’s only aimed at ladies? Or men? Are you offering a product of mass consumption? Are you offering a service to a specific demographic? Are you aware of the interests of your supposed demographic? These are all valid questions, and you don’t really need a big time advertising firm to answer them for you. You should know first hand your product; and for whom it works for, like the back of your hand. Paid consulting is only needed if as an established brand you want to reach new audiences. By established, I mean you have a relative following already that you've spent time and/or money to build.
What’s the reach of your product?
When we talk about reach, we mean every aspect of it inside your demographic. Keep asking hard questions! What’s the average age of those using your product? Would your product be successful in determinate areas? You may be aiming to go local, but would you go national if you become hot? Foresight may be needed for that one, and we are glad to help you answer that question if you'd like our help :)
Do a formal market survey
It will help you gather hard data about things you may think to have a good grasp on. Market surveys will offer actual answers through primary and secondary markets. You may want to get the help of an agency for this one. Or do it by yourself if you are an upstart player. Use surveys with specific questions about your product or brand. Do interviews after exposing potential clients to your brand. Interact with focus groups to get feedback through Q&A dynamics. These will all give you a decent grasp of the ground you are stepping into.
As accurate as a market survey may be. The best way to know what people think about your brand is to ask from the horse mouth. Take it up close and personal (but don’t be creepy). Log into social networks and ask around. Listen to what people have to say about your brand or product with an open mind. It’s usually best if they don’t know who you are. So you’ll get true answers out of them. Don’t take personally what they say if it’s bad. Remember that there is still room for improvement to what you do.
Comprehensive customer profile will allow you a great deal of range in your selling movements. And it will flex your marketing muscles by directing your efforts to the people you know will want what you are offering. Take into consideration the bad things that come out of the survey study. They are the ones telling you what you should improve your brand.
Ask yourself these questions before taking the next step
If you are an upstart: Do I feel there are enough potential customers of the target audience to start new business ventures?
If you are an established brand: How will my product contribute to the benefit of my demographic? Will my selected demography see a need for what I offer? Will they buy my product again? Do I understand what drives the market to make their buying decisions? Do my potential customers can afford my product or services? How frequently can I expect them to come back? Can I reach the market with more accessible messages and information?
If you are confident about the answers to every single one of these questions then is time to go to the next step. Knowing where we want to go with our venture is as important as learning how to get there.