How to Determine Your Target Market for Your List Campaign
Starting out, it is difficult to know exactly who your target market is in Chicago, Illinois. Even over time your ideal customers are subject to change. Therefore, it is important to evaluate your company and its products often to ensure your marketing campaigns are reaching the right people.
Below we have created a questionnaire to help you understand and define who you want your audience to be. The accompanying examples show how a makeup company might respond to this questionnaire.
Defining Your Target Market Questionnaire
1) What industry is your company in?
Ex. A makeup company might be classified as a part of the “Fashion” industry or part of the “Health and Beauty” industry
2) What is your company’s motto or what does your company value very highly?
Ex. The makeup company’s motto might have to do with feeling beautiful in your own skin and they might value enhancing natural beauty with complementary makeup accents.
1) What product or services are your top sellers? Who is buying these items?
Ex. Mascara and eye shadow might be a best seller among young women.
2) What product or services are you struggling to sell? Who are you not selling these things to currently?
Ex. Foundation cover-up is a struggle to sell to the older generation.
3) What is your competition’s main selling product or service?
Ex. The makeup company’s rival might also be thriving in their sale of mascara and eye shadow.
4) What are some new products or services you want to offer?
Ex. Healthy, mineral rich products that don’t weigh down your face when you apply them and wear them all day.
The “It” Factor
1) What separates your product or service from what the competition is offering?
Ex. This makeup company offers quality products that hold all day long, they are lightweight, and contain healthy minerals in the formula.
2) What is the main selling feature for your top product or service?
Ex. The eye shadow and mascara products sell because they come in a variety of colors and styles to be able to customize your look and show off your personality.
The Current Perceived Market
1) What are the top 3 common factors defining who purchases your current product or service?
For example, a makeup company might say that (1) women (2) ages 15 to 35 (3) living in high income areas are their largest consumers of a particular foundation cover-up.
2) What are the lives of these people like?
Ex. These women are busy going to school and working while going through transitional phases and defining what their personality, interests and lifestyle will be like for the future.
3) How long have they been customers?
Ex. Most of these women are new consumers who have started to purchase from this makeup company within the last 10 years.