Identify your target market using social media

Identify Your Target Market using social media Aaron Eden @aaroneden http://about.me/aaroneden

Agenda
What is a target market?
Why is it important?
Market segments
Good & Bad Samples
Interviewing
Reviewing

What is a target market?
A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. -- Wikipedia

Samples
Good Targets
“ Women getting married that want a diamond tiara and live in Tucson, AZ”
“ Homeowners between the ages of 35-65 with incomes of $150,000+ in the Baton Rouge, Louisiana market”
Bad Targets
“ Small business owners in Tucson, AZ”
“ Anyone interested in my services”

Why is it important?
Can’t market to people you don’t understand
Lower costs
Compete more effectively
Faster / simpler sales

What are the 3 problems you are trying to solve for your customers?
Scheduling social media posts is time consuming.
Sending social media posts to multiple networks is time consuming.
Sending social media posts to multiple time zones is difficult and time consuming.

Market segments Demographic Segment Measurable statistics such as age, income, occupation, etc. Psychographic Segment Lifestyle preferences such as music lovers, city or urban dwellers, etc. Use-based Segment Frequency of usage such as recreational drinking, traveling, etc. Benefit Segment Desire to obtain the same product benefits such as luxury, thriftiness, comfort from food, etc. Geographic Segment Location such as home address, business address, etc.

Who are your customers?
Worldwide Solo-preneur social media marketers that speak English and have 3+ clients.

Interview questions
Setup context
Rank the problems (must have, nice to have, don’t care)
Prove / disprove market segment
Which marketing channels are most likely to reach them?
Do they make the buying decisions in their company?
What alternatives are they using today?
Ask for introductions

Finding interviewees
Existing customers
First degree contacts

Facebook
B2C
First degree contacts
FB Questions

Twitter
B2C
B2B
Much noisier
Wider reach

LinkedIn Answers
B2B

Yahoo Answers
B2C
Slightly noisy

Quora
B2B
Build up network first

Reviewing
After each interview
After 10 interviews
Tweak until you find problem / market fit

When your problem isn't big enough
Is there another related, larger problem for your target market?
Are any of these problems affecting a different market?
Is there are a similar problem but for a smaller market?
Is there a piece of your solution that might be a product on it's own?
Pick another target or discover new problems

http://garious.com	6796
http://www.sociallyperforming.com	75
http://www.garious.com	11
http://translate.googleusercontent.com	4
http://www.linkedin.com	3
http://ec-sp.eu	2
http://twitter.com	1

Identify your target market using social media

by Aaron Eden

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Identify your target market using social media Presentation Transcript