Identify Your Target Market using social media Aaron Eden @aaroneden http://about.me/aaroneden
Agenda <ul><ul><li>What is a target market? </li></ul></ul><ul><ul><li>Why is it important? </li></ul></ul><ul><ul><li>Mar...
What is a target market? <ul><li>A  target market  is a group of customers that the business has decided to aim its market...
 
Samples <ul><li>Good Targets </li></ul><ul><li>“ Women getting married that want a diamond tiara and live in Tucson, AZ” <...
Why is it important? <ul><li>Can’t market to people you don’t understand </li></ul><ul><li>Lower costs </li></ul><ul><li>C...
What are the 3 problems you are trying to solve for your customers? <ul><li>Scheduling social media posts is time consumin...
Market segments Demographic Segment Measurable statistics  such as age, income, occupation, etc. Psychographic Segment Lif...
Who are your customers? <ul><ul><li>Worldwide Solo-preneur social media marketers that speak English and have 3+ clients. ...
Interview questions <ul><li>Setup context </li></ul><ul><li>Rank the problems (must have, nice to have, don’t care) </li><...
Finding interviewees <ul><li>Existing customers </li></ul><ul><li>First degree contacts </li></ul>
Facebook <ul><li>B2C </li></ul><ul><li>First degree contacts </li></ul><ul><li>FB Questions </li></ul>
Twitter <ul><li>B2C </li></ul><ul><li>B2B </li></ul><ul><li>Much noisier </li></ul><ul><li>Wider reach </li></ul>
LinkedIn Answers <ul><li>B2B </li></ul>
Yahoo Answers <ul><li>B2C </li></ul><ul><li>Slightly noisy </li></ul>
Quora <ul><li>B2B </li></ul><ul><li>Build up network first </li></ul>
Reviewing <ul><li>After each interview </li></ul><ul><li>After 10 interviews </li></ul><ul><li>Tweak until you find proble...
When your problem isn't big enough <ul><ul><li>Is there another related, larger problem for your target market? </li></ul>...
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Identify your target market using social media

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  • You are not excluding customers It drives everything in your business Ask group for examples
  • Small biz owner already wearing all the hats Tell story about small business owner that is marketing luxury hand-bags in SkyMall
  • Focus on your customers What are the problems you think they have? Does anyone have multiple products? Do this for each!
  • Keep segments SMALL A customer is someone that pays for your product
  • Don’t sell Do In person Pair up No Surveys
  • Find people that you think fit your target market Get some practice
  • First find people with the problems, then connect DON’T Sell Connect in person
  • Follow up via email. Make new connections Meet in person or interview over the phone
  • Hasn’t worked great for me LOTS of networks to learn from
  • Wind Turbine team learned: Bigger turbine Market education Neighbor&apos;s Approval
  • Identify your target market using social media

    1. 1. Identify Your Target Market using social media Aaron Eden @aaroneden http://about.me/aaroneden
    2. 2. Agenda <ul><ul><li>What is a target market? </li></ul></ul><ul><ul><li>Why is it important? </li></ul></ul><ul><ul><li>Market segments </li></ul></ul><ul><ul><li>Good & Bad Samples </li></ul></ul><ul><ul><li>Interviewing </li></ul></ul><ul><ul><li>Reviewing </li></ul></ul>
    3. 3. What is a target market? <ul><li>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 </li></ul>
    4. 5. Samples <ul><li>Good Targets </li></ul><ul><li>“ Women getting married that want a diamond tiara and live in Tucson, AZ” </li></ul><ul><li>“ Homeowners between the ages of 35-65 with incomes of $150,000+ in the Baton Rouge, Louisiana market” </li></ul><ul><li>Bad Targets </li></ul><ul><li>“ Small business owners in Tucson, AZ” </li></ul><ul><li>“ Anyone interested in my services” </li></ul>
    5. 6. Why is it important? <ul><li>Can’t market to people you don’t understand </li></ul><ul><li>Lower costs </li></ul><ul><li>Compete more effectively </li></ul><ul><li>Faster / simpler sales </li></ul>
    6. 7. What are the 3 problems you are trying to solve for your customers? <ul><li>Scheduling social media posts is time consuming. </li></ul><ul><li>Sending social media posts to multiple networks is time consuming. </li></ul><ul><li>Sending social media posts to multiple time zones is difficult and time consuming. </li></ul>
    7. 8. 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.
    8. 9. Who are your customers? <ul><ul><li>Worldwide Solo-preneur social media marketers that speak English and have 3+ clients. </li></ul></ul>
    9. 10. Interview questions <ul><li>Setup context </li></ul><ul><li>Rank the problems (must have, nice to have, don’t care) </li></ul><ul><li>Prove / disprove market segment </li></ul><ul><li>Which marketing channels are most likely to reach them? </li></ul><ul><li>Do they make the buying decisions in their company? </li></ul><ul><li>What alternatives are they using today? </li></ul><ul><li>Ask for introductions </li></ul>
    10. 11. Finding interviewees <ul><li>Existing customers </li></ul><ul><li>First degree contacts </li></ul>
    11. 12. Facebook <ul><li>B2C </li></ul><ul><li>First degree contacts </li></ul><ul><li>FB Questions </li></ul>
    12. 13. Twitter <ul><li>B2C </li></ul><ul><li>B2B </li></ul><ul><li>Much noisier </li></ul><ul><li>Wider reach </li></ul>
    13. 14. LinkedIn Answers <ul><li>B2B </li></ul>
    14. 15. Yahoo Answers <ul><li>B2C </li></ul><ul><li>Slightly noisy </li></ul>
    15. 16. Quora <ul><li>B2B </li></ul><ul><li>Build up network first </li></ul>
    16. 17. Reviewing <ul><li>After each interview </li></ul><ul><li>After 10 interviews </li></ul><ul><li>Tweak until you find problem / market fit </li></ul>
    17. 18. When your problem isn't big enough <ul><ul><li>Is there another related, larger problem for your target market? </li></ul></ul><ul><ul><li>Are any of these problems affecting a different market? </li></ul></ul><ul><ul><li>Is there are a similar problem but for a smaller market? </li></ul></ul><ul><ul><li>Is there a piece of your solution that might be a product on it's own? </li></ul></ul><ul><ul><li>Pick another target or discover new problems </li></ul></ul>

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