Targeting the right customers is key, as 20% of your customers will generally bring in 80% of your turnover.
- So, who are they and where do you reach them?
- Are there different groups of customers for your different products and/or services?
- Are they males or females; black, white, brown; what ages are they… etc.
- What are their strengths and challenges?
- What influences them in their decision making?
Something that has become popular is the customer avatar. This is one particular individual who fits all the criteria you lay out for your ideal customer. Give him/her a name.
Then you start building a marketing strategy around that one individual, before expanding it to include the other criteria.
I have become very critical of Facebook over the years. They have copped a lot of flack around security issues, data mining and censorship of certain views. However, their Advertising Platform is something to behold. Facebook puts the users’ experience above even their own revenue. This means that advertising on Facebook cannot be hard-sell and in-your-face as much of commercial advertising is. It’s about establishing, building and nurturing relationships with your followers. Facebook penalises adverts that annoy its users and goes out of its way to promote adverts that its users enjoy.
Facebook has around 4 000 data collection points on over 2 billion people around the world. This makes it the most powerful targeting platform on the planet.