As a wholesale vendor, do you know who your target audience is? When we talk about target audiences, we’re talking about the people that are most likely to buy your products or services, and the ones that will be the easiest and most reliable to market your products to.
Your target audience can be anyone from international buyers who are looking for awesome Made In America products, or people in your community, who would rather buy from a local business that they know and trust.
Knowing your target audience can help you to better strategize your marketing efforts, so that you can put more effort into enticing customers who want your products already, rather than those who require more effort to convince them to buy from you.
So how do you figure out who your target audience is, and what steps should you take to market to them? Here are a few key tips to help you out.
Broad vs. Narrow
Do you want to market your products to everyone, or just some people? You really have to look at the products and services you’re selling and who it will appeal to before you start marketing those products to a specific audience.
For example, if you are a candle company that places valuable jewelry inside your candles, you’re more likely to sell your products to millennial age females who are looking for fashionable jewelry. You’d want to target that specific age group and gender with your product, rather than a broad reaching audience that might include much older men and women, infants, parents, and young teenagers. The millennial females are more likely to buy your product.
What tools are you using to reach your target audience? Are you focusing on traditional advertising mediums such as billboards or magazine ads, or are you focus on online advertising and social media advertising?
Different age groups prefer different forms of advertising. The millennial and younger age group is less likely to respond positively to the more traditional forms of advertising, like television ads and billboards. They’re more likely to pay attention to “hidden” ads, which means ads that seem more like a conversation than someone trying to sell them something. Think of social media posts and sponsored posts on Facebook, Instagram, and Twitter to reach this audience. But the older generations still prefer to get their ads from TV, newspapers, magazines, and billboards. Find out who you want to target your products to, and build your advertising strategy around your target audience.
Observe Your Competitors
What are your competitors doing, and how are they reaching their target audience? Sometimes, it’s better to observe how others are marketing to a target audience rather than to go into it blind with no experience. If your competitors are reaching the audience you want to reach, figure out a way to take what they’re doing right, and make it better.
If you observe your competitors reaching their customers through social media with great success, consider changing up the way you run your social media accounts. If your competitors are reaching your target audience through online advertising, try that as well. If they’re branding their business as a “local” or “Made In The USA” business and you’re not, consider trying to change the language surrounding your business and make customer buy from you.
High-End vs. Affordable
How are your products priced, and are you more concerned with appealing to high-end buyers or more buyers who are looking for more affordable options? You have to consider what type of buyer you want to target in terms of affordability as well. High-end products are more likely to be purchased by wealthy or more affluent buyers. Affordable products are products that can appeal to any type of buyer, no matter their financial situation.
If you’re an expensive artisan jewelry maker, you’re more likely to target the high-end audience rather than those who are looking for a great deal. But if you’re a candle or soap maker, or someone who specializes in gourmet food, you can appeal to any type of buyer.
Knowing your target audience can help you better appeal to that audience, and get you more sales in the long run. Learn what kind of audience you need to be focusing on, and craft your marketing message around that target audience!