Find the RIGHT target market

When you are marketing your company, have you thought about who you’re marketing to?

I think most people would just say yes to this question without giving too much thought to is but the one thing I have found that when you dig into this question just a little deeper, people are often very surprised just how little they understand who their target market is.

An an example of this I worked on recently was a company that offers Ski Myoko ski packages in Japan. This company offers an incredible product – they are fully tailored ski packages at ski resorts that are removed from the tourist trap resorts most people end up booking when they organise their own ski trips. They give people a shortcut to the sort of resorts and local ski runs that usually aren’t available to non-native speakers.

This company was Powder Recon, and their problem wasn’t that they didn’t know the best way to find their target market. The Powder Recon snow tours Japan occupy a small but lucrative niche. They didn’t fit the niche of young people looking to ski on a budget – their packages were priced too high for that. But they also weren’t for the people at the expert end of the ski community. This may sound unintuitive at first – these tours are giving people access to slopes that are out of the mainstream, which you would think would be enthusiasts bread and butter. But when you dig a little deeper in you realise that many of these people already know about these places. They don’t need the help!

So where does that put the Powder Recon packages?

Let’s break down what the packages offer into dot-points:

  • They offer a non-tourist experience
  • They give access to places in Japan usually only available to native Japanese
  • They are all inclusive and have the whole trip organised before the person even leaves Australia.

Now let’s go with the inhibiting factors.

  • It is a premium product so it costs more
  • Because it is not a mainstream skiing location their is little built in exposure.

So how did we use this information to identify the right target market.

The ideal customer profile for Powder Recon is someone with experience skiing and a healthy income, but not someone who wants to spend a lot of time doing research for the experience they want. They are likely to be a time-poor professional who are used to having the higher end quality of things in life and know how to spot the exceptional to the common.

Now that has been determined We can adjust how we are targeting our marketing. Content marketing does not have the potency it might in other cases as our ideal customer profile is not doing research online. Same with Adwords.

What we ended up finding to be the most effective? Establishing referral relationships. The target market want their recommendations quick, pre-packaged but most importantly from a trusted source. So we found the people that were already were servicing our target market and began building ties with them. Read more on how referral marketing can help you grow your business here

Stay tuned for the next blog post for how we approached this stage of the process.

Author: Biz Think Tank

BizThinkTank is a dedicated small business website, with a wealth of regularly updated tips and articles. Whether you’re looking to start a business or grow your business, you’ll find a wealth of handy advice and information.

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