Target Marget
Thorough Knowledge Is Power
Every successful business begins with an in-depth understanding of its target market. Without this knowledge, the path to
success looks a lot like a guessing game.
In B2B marketing, a target market is the business segment to which you will be selling your product or services. Knowing
your target market is vital to the success of any business because it gives focus to your marketing efforts. When you have
analyzed and zeroed in on your target market, it will be easy to promote and distribute your service in an effective manner.
Very often, the target market for a business-to-business company is smaller and has more specialized requirements than a
business-to-consumer market. Members of this target market will be making a decision that affects all or part of an
organization, whereas the result of a B2C decision will only affect one individual. That's why the approaches to B2C
and B2B marketing are quite different. Unlike marketing to the general public, conducting a B2B campaign requires the
cultivation of personal relationships and more patience since the sales cycle will take longer.
While B2C companies rely on the strength of a product or service to make the sale, B2B marketing is much more educational.
A business-to-business company must begin by building relationships to get their prospect to listen. These businesses use
marketing to educate the various decision-makers within the prospective company, because there is typically more than one
person that must approve the purchase. Often the education process encompasses multiple steps such as direct mail,
telemarketing, webcasts, newsletters and personal presentations by sales representatives before the sale is closed.
In order to get your foot in the door of the most promising prospects, ask yourself the following questions and zero in on
your company's target market. Which businesses are you trying to reach with your advertising efforts? Who typically buys from
you, or who is most likely to buy from you? Who is the company decision maker? Which person is most likely to place an order:
the office manager or the CFO?
What kinds of businesses would you expect to buy from you?
You can also use tools such as customer satisfaction surveys and market research information to hone in on your most promising
targets. Once you have analyzed your target market, you can then discuss what will motivate them to buy from your business.
This information can help as you craft a core marketing message and execute an effective marketing strategy.
For more information on having MarketBlazer guide your business to
the next level in marketing, call (770) 406-6343 or email us at
info@marketblazer.com.
