Who is the target audience for your business? I’m always amazed by the number of business owners who answer, “Everyone, of course,” even when their product or service is geared for a specific demographic. And even if you have a general inventory to sell or a broad range of services, there is still a specific audience to reach.
Many entrepreneurs believe everyone is going to love their product or service, or at the very least want to try it. Unfortunately, that is rarely the case. Take my latest business venture, RV Travelpreneurs. Guess what? It’s the kind of thing that will probably only appeal to traveling entrepreneurs working out of their recreational vehicles. Imagine that!
You may be surprised just how small that audience is for such a niche subject; but that’s exactly why it will attract a certain kind of customer, because information on how to run a home business from an RV is scant (or non-existent). Whether you’re working from a brick-and-mortar store, an office building, a stick-built home, or a camper, the same marketing principles apply, and it begins with defining your target audience.
Think of all the consumers out there, each of them having different needs, backgrounds, and interests. Trying to appeal to all of them is futile. There are essentially five kinds of consumers:
- Impulse shoppers
- Bargain hunters
- Need-based shoppers
- Window shoppers
- Loyal patrons
Impulse shoppers are likely to be found at city and county fairs and festivals. They don’t have a specific purchasing goal—they are there for the culture and ambience and make purchases on a whim. If you have handmade goods or specialty arts, crafts, clothing, jewelry, or sweet treats to sell, your booth will most likely be a hit with impulse shoppers! As a traveling entrepreneur you can go from festival to festival throughout the country, especially during summer and fall months.
Bargain hunters seek the best deals and are not likely to be convinced to buy more than they need or want. A strategy to attract bargain hunters is to advertise special sales, periodic discounts, or coupons.
Need-based customers are the people shopping for specific items or services they need for themselves or their families. It could be things they regularly consume, wear, or use, or it could be they are looking for a certain gift for someone in their circle. They could become regular customers if you offer the very things they need.
Window shoppers probably won’t buy anything, no matter how wonderful your product. They are there at the fair, the store, or the flea market for the social aspects of the shopping event. Curiosity, adventure, or simply overcoming boredom is the reason window shoppers are out and about. You could possibly make a sale if you can capture their interest, but don’t plan on it!
Loyal patrons are what you want to cultivate; they are the bread and butter of any business. They may not make large purchases, but their continued patronage adds up. Loyal customers are likely to recommend your business to their families and friends. This is why it’s imperative that you treat them well and make them feel valued and appreciated. Reward their loyalty with little perks or bonuses, special “early-bird shopping hours” for special sales events. Be creative and responsive to their needs as consumers.
Identifying your target audience, knowing their needs, understanding their shopping habits, and marketing directly to that unique demographic will bring results!
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