Tell Tale Signs You’re Not Appealing to The Right Audience!
Every business has an idea of their target audience. At least they should do. So how do you know if you’ve got that right? How do you know how to start finding your audience? And how do you know if you’re appealing to your audience?
Worse still, how do you know if you’ve got it wrong and you’re wasting your marketing budget?
A friend of mine sells fitness equipment. It is a relatively simple business. He imports the equipment, delivered direct to his warehouse, he sells over the internet, he labels the boxes up and the courier collects. He repeats this four days a week and has a turnover of £20,000 per week. One member of staff (him), £1m per year turnover and roughly £600,000 profit.
Sounds great right?
Except it took 15 years!
Fifteen years finding his perfect audience, fifteen years finding the right suppliers and fifteen years of uncertainty, personal turmoil and hard work.
How many people do you know would spend fifteen years in that state to get to that point?
Now in hindsight, if he’d have got his audience right in the first place, he could have shaved a good few years off that timescale. But, how do you do that?
It’s all about finding your audience…
In his case, he was importing equipment at a great price, so in his mind he had to sell at an unbelievable price. He set out with bargain basement style adverts, competing with the big boys and relying on volume.
And the problem with that? To target the masses costs a fortune. His tight margins got squeezed by an escalating marketing budget and the maths simply didn’t work.
Then it dawned on him. What if he used better couriers, had a better website and spent more on his packaging? Could he charge more and essentially do less?
That is where he found his sweet spot. By improving his operation and the appearance of it, he was able to charge four times as much. No more reliance on volume. Just customers with their hands up ready to buy and a marketing budget that directly correlated with sales. A happy business owner, with happy customers that speak the same language.
How to find your sweet spot!
Identify the sort of people that would value your product or service. Not the people who just want the cheapest version, because they aren’t truly committed.
How do those people speak? Where do they hang out? What are their hobbies? What do they watch on TV? How much disposable income do they have? These are all key to finding your audience.
Then you test advertising campaigns based on what you’ve found. Ask yourself, what resonates best? What gets engagement? What gets clicks and what ultimately creates sales?
Through this methodical process, you can turn what took my friend fifteen years, into a three to six-month journey.
If you’d like to discuss finding your audience, don’t hesitate to hop on a Q&A chat with me. I’d love to hear about your sweet ambitions.
Take care and Stay Hungry!
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