This one sounds simple enough, but there is a reason we put this as the # 1 key strategy – it’s because everything you do after determining your target market can ultimately lead to the success or failure of your marketing. Why? Because if you get this part wrong, everything else is pretty much wasted time, money and resources.
So, who is your target market? A lot of businesses make the mistake of saying ‘everyone’. This is highly inaccurate, here’s why:
Target Market = Everyone
WRONG! A child is not your target market. A person who doesn’t drink coffee is not your primary target market. Pregnant women are not your primary target market. A teenager is not your target market.
Ok, we think you get the point.
Target Market for Local Café
A mother aged 30 – 50 years of age who lives in the area and enjoys a ‘pick-me-up’ after dropping her children at school or when socialising with other mothers.
Target Market for CBD Café
Nearby office workers aged 20 – 55 years, with a disposable income. This person is likely to be picking up their morning coffee, attending a work meeting or taking a short break from work.
You can see the key difference with these target markets is the ‘purchase intent’. Why are they buying your product or doing business with you e.g. problems, trigger events. Once you can identify these vital elements, your small business can then tap into these further.
The result – happier customers and higher profits!
If there are 2 local cafes in your area then you need to know why your customers are choosing you, and why others are choosing your competitor.
For example, your small business might be operated by the Owner and provide local artisan coffee, bread and in-store dining experiences that yield a slightly higher price.
Your competitor, however, might be more of a coffee franchise where the customer simply wants their coffee or food as a quick and easy ‘grab and go’ option on their way to work.
No matter how similar you and your competitors may appear, there is always a reason why your value proposition will attract some but not others and vice versa. Knowing your value proposition and marketing this strongly will help you succeed even more-so in this category and potentially help you switch some of those competitor customers over to your product or service!
No matter if your business operates offline, online or both – a professional website for your business is non-negotiable.
A website shows off who your small business is, what you offer, where you are, how you operate and importantly, how customers can reach you.
Skimping on an important asset like this will likely lead to a loss in customers and revenue, plus, you will also likely be handing over these customers and profits to your local competitors who have invested in a professional website and online presence.
Once your website is established, the next best thing to do is to invest in an affordable SEO Campaign for your small business. Doing this will help customers to find your products and services – not the other way around.
Being a long term strategy, SEO is a great cost-effective way for any small business to out-muscle their competitors online and build up a credible reputation that feeds into the cycle of increasing traffic and enquiries.
While SEO can be managed in-house, we would strongly recommend leaving it to an SEO Specialist in order to get the best results for your small business.
This might sound expensive, but hiring a local SEO Company like DigitUX can be quite an affordable way to increase your ROI.
If you’re business needs some help getting their digital marketing refined or up and running – DigitUX specialises in affordable options and high quality services for small and medium businesses across Australia – just get in touch.