Week 1 – Unit 3 – Target Market

Catching the attention of potential customers/clients is only half the battle when marketing on social media. Defining your ideal audience will help you get your message out to the right the people.
Your target audience is and will always be those you have purchased or are wanting to purchase a similar product or service.

Here is an example of marketing to the right market. Imagine you would like to sell a beautiful expensive cut of beef, would you go to vegetarian restaurant or would you go to a steakhouse? That is all you are doing here. You are sending out your message to the right people.

Defining your Target Market

Have you ever noticed that after you search for something on the internet you start seeing ads for the things you were looking at? This is target marketing at work.

This may freak you about a bit but did you know that Facebook has a LOT of information about you… about everyone. Like, a creepy amount of information. What you do, what you like, where you go on vacation (and when), how many people you have in your family, and what car you drive, etc. That should simultaneously weird you out and get you excited.

When building your audience there is a lot of information available:

● Location

● Gender

● Age

● Relationship: Status or Interest In

● Education: Education level, fields of study, schools, undergrad years

● Work: Employers, job titles, industries, office type

● Financial: Income, net worth

● Home: Home type, home ownership, home value, household composition

● Ethnic Affinity

● Generation: Baby boomers

● Parents: All parents, moms

● Politics (US)

● Life Events: New job, engaged, recently moved, upcoming birthday, etc.

● Interest: Anything you can think of that someone who may be interested in your product or service may also be interested in. For example, if you were offering a new app for runners, you would want to target people with an interest in running, or possibly even different running app/company names.

● Behaviors: You can target audiences who display specific behaviors.

● Mobile Device Users: By specific phone type, operating systems, carriers

● Purchase behavior: Business purchases, clothing, food and drink, health and beauty, home and garden, etc.

● Residential profiles: Likely to move, recent homebuyer, recent mortgage borrower, recently moved.

● Travel: Business travelers, commuters, currently traveling, frequent flyers, planning to travel, etc.

Half the battle when it comes to running Facebook ads is getting the target’s attention. Men respond differently to words and images than women do. So targeting men when it is clear that it is geared more towards a women would be a waste of money. Millennials talk and think differently than an older generation, having your message tailored to your ideal audience is the most efficient way to spend your advertising budget.

If you have an existing business with a customer/client email list. Facebook lets you upload that list and will help you find you an audience that looks like your list. Google how to upload your existing list into Facebook. Last I looked you needed a list of 500 people or more. If you’re a new business, you won’t have a list to use, so you will need to do some market research and define your audience.

These behavior targeting categories can be extremely helpful, especially purchase behavior. If your MLM is based on supplements, look for people already interested in that area. If your MLM is based on cosmetics, look for people who just bought those products. Your target market is and will always be those you have purchased or looking to purchase those types of products.

Companies large and small have been utilizing targeted marketing efforts to drive up their sales for decades. Targeted marketing is nothing more than actually focusing your efforts on only approaching and speaking to those with a true interest in what you offer them.

Tasks to Complete:

Identify and define the kind of people who you feel would want to join your team. For example, your MLM company could be focused on fitness products. In this case, you’ll want to target those who are looking to lose weight, who are interested in physical fitness, or those who are already involved in the fitness world.

To help you create a target market it helps to choose 2-3 different types of people that you want on your team or ideal team members.  Maybe you want to target Retired Grandmas, they know what there monthly budget is, they have lots of family connects, she may live in a retirement community. Use the Avatar worksheet to build your ideal team members. You will refer back to this worksheet as you are building your marketing plan.

>>Avatar Worksheet<<