Re: How to Define Your Target Market for More View...

Former_Member · ‎03-29-2017

How to Define Your Target Market for More Views and Sales

source: http://www.inc.com/guides/2010/06/defining-your-target-market.html

To build a solid foundation for your Etsy or other business, you must first identify your typical customer and tailor your marketing

Having a well-defined target market is more important than ever. No one can afford to target everyone. Small Etsy shops can effectively compete with large shops by targeting a niche market.

Many Etsy sellers say they target "anyone interested in my products." This target is too general.

Targeting a specific market does not mean that you are excluding people who do not fit your criteria. Instead, target marketing allows you to focus your marketing efforts on a specific market that is more likely to buy from you than other markets. This is a much more affordable, efficient, and effective way to reach potential clients and generate business.

With a clearly defined target audience, it is much easier to determine where and how to market your products. Here are some tips to help you define your target market.

Look at your current customer base.

Who are your current customers, and why do they buy from you? Look for common characteristics and interests. Which ones bring in the most business? It is very likely that other people like them could also love your products.

Check out your competition.

Who are your competitors targeting? Who are their current customers? Don't go after the same market. You may find a niche market that they are overlooking.

Analyze your products.

Write out a list of each feature of your product. Next to each feature, list the benefits it provides (and the benefits of those benefits). For example, a graphic designer offers high-quality design services. The benefit is a professional Etsy shop image. A professional image will attract more customers because they see the Etsy shop as professional and trustworthy. So ultimately, the benefit of high-quality design is gaining more customers and making more money.

Once you have your benefits listed, make a list of people who have a need that your benefit fulfills.

Choose specific demographics to target.

Figure out not only who has a need for your product or service, but also who is most likely to buy it. Think about the following factors:

Age
Location
Gender
Income level
Education level
Marital or family status
Occupation
Ethnic background

Determine how your product or service will fit into your target's lifestyle. How and when will your target use the product? What features are most appealing to your target? What media does your target turn to for information?

Evaluate your decision.

Once you've decided on a target market, be sure to consider these questions:

Are there enough people who fit my criteria?
Will my target really benefit from my products? Will they see a need for it?
Do I understand what drives my target to make decisions?
Can they afford my products?
Can I reach them with my message? Are they easily accessible?

Don't break down your target too far! Remember, you can have more than one niche market. Consider if your marketing message should be different for each niche. If you can reach both niches effectively with the same message, then maybe you have broken down your market too far. Also, if you find there are only 50 people that fit all of your criteria, maybe you should reevaluate your target. The trick is to find that perfect balance.

You may be asking, "How do I find all this information?" Search for magazine articles and blogs that talk about or to your target market. Search for blogs and forums where people in your target market communicate their opinions. Look for survey results, or consider conducting a survey of your own. Ask your current customers for feedback.

Defining your target market is the hard part. Once you know who you are targeting, it is much easier to figure out which media you can use to reach them and what marketing messages will resonate with them.

Former_Member · ‎03-29-2017

Excellent information. Thank you, Mary
I had to change my marketing so far 3 times to reach a better "audience".
1. All the same product: Crochet Patterns ONLY, not supplies everybody uses.
2. I tried to appeal to scrapbookers, a huge market at the time, so I "scrap booked" my digital patterns. Pointed the patterns out as "Scrapbooked patterns". That really peaked interest in the vast array of free patterns, I compete with.
3. Now I honed in into "resourceful" crochet patterns, meaning something useful, something needed, something that makes life easier for some people, something that sells well in bazaars etc.

Our income for years came from craft shows. Those have taught me: You have 10 ' space... meaning your potential customer has 14 steps to catch a glimpse of all you have.
To have all the SAME product makes it easier on their brain to focus. The ones who do not need a footstool or a blanket or whatever you are selling will walk pass you. No problem, they do not clutter up the booth for potential customers. So the people interested have the whole space to select and you have time to assist with the purchase.
Same in your Etsy store: Tags all geared to your SAME product people are looking for, they will find you and if you have a large selection of the items they want they will buy. Correct, you will not have as many views to make you shop a show stopper or put you higher in Etsy ranking of best product, but you have the cash.

I hope you can apply my little " hands on" explanation along with Mary's excellent tips and have a successful shop.

Fond regard
Beate

PorcelainJazz · ‎03-29-2017

I'm pretty clear on my target market:
age....................... 20's thru 50's
location................ United States (Europe,Canada, Australia etc. would work except for the high postage costs)
gender.................. female
income................. sufficient disposable; middle to upper middle class
education............. college
family ................... married
occupation .......... housewife or professional
ethnicity .............. anglo-saxon
with a strong bent towards decorating ... ie artsy

There is a secondary target market that I call 'the collectors' that tends to be male, single, college educated and in their 50's and 60's with disposable income from a professional level job. But this is an extremely small market.

Right now I'm trying to figure out where they hang out. For example I find more buyers on Etsy than I do in social media in general in spite of Etsy administration's push to get us to troll for buyers outside of Etsy.

I could use some help in defining that target market's hangouts so to speak.

PorcelainJazz · ‎03-29-2017

Thanks Beate for the additional information and I've found that it is highly relevant to etsy as well as craft shows. My pottery shop on etsy did much better as soon as I pulled the porcelain beads and jewelry out of there and just concentrated on the pottery.

And thank you Mary for starting this conversation with some good solid information.

MarianneMerceria · ‎03-29-2017

Really great info for a novice, thank you so much Mary, Beate and Cecily :)
There is a lot to do in my shop...

Former_Member · ‎03-29-2017

Yes, great info from everyone, thank you. I have several shops on Etsy selling knitted wool hats, pet beds, pillow covers and, of course, knobs. Each one has a different dynamic. I have never broken down the customer base to that degree before. What works for pet products will be completely different from what works for my knob shop. I agree, Marianne, a lot of work to do ... !

Former_Member · ‎03-30-2017

Thank you, Oma and Cecily, for sharing your experiences and making suggestions.

Using social media wisely takes practice. Facebook groups is a good way to build a following of buyers who are interested in your products. There are ways to use Facbook groups to make steady sales. I will talk about on this in the next newsletter.

HKart1 · ‎03-30-2017

Thank you.
Hana.

Tajbar · ‎05-11-2017

So valuable. Thank you so much!

Former_Member · ‎06-18-2017

super info - thanks

MooMooHandmadeCards · ‎06-22-2017

Thank you Mary! Great info!

mairidesign · ‎08-13-2017

Thank you Mary and also to Oma :)
I've been starting and stopping doing this for a long while - time to focus now!

SightStrapsDesigns · ‎08-18-2017

This information was very helpful, thank you ! : )

AdornDC · ‎09-11-2017

I have the target, now how to reach them?

Former_Member · ‎09-19-2017

TR, you can find them on the Internet on social media sites like Facebook, Twitter, Instagram, Pinterest amd more.

Here is my SEO group on Facebook - https://www.facebook.com/groups/SEOSalonGroup/ with over 5,500 members who are interested in SEO, with several people joining every day. On Facebook, you can use keywords that are related to your business and your target market will find you.

There are effective ways to use all the social media platforms to grow your business and to reach people who would love your portraits and other artwork.

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u4eadehy · ‎03-06-2019

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u4eadehy · ‎03-07-2019

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