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What Does Your Market Want and How Do They Want It

By | August 28, 2008

If you know the answer to the first question but ignore or forget about the second question, then you are leaving a lot of money on the table. In fact, ignore the second question and you may not make very many (if any) sales to your customers.

The way to prevent making the mistake of neglecting question number 2 is to “Know Your Market!” You can be selling to a hot market and if you are not aware of how your customer comes to a buying decision on line then you may fail in your on-line marketing endeavors.

The Buyers Personality
Demographics – Your website and ads should target your demographics. Don’t know what they are? Go to Quantcast.com and get a “guesstimate”. From this site you can get a good idea of your competitor’s customer data. You can check their age, income level, gender, etc. You can find out where they like to shop, predict what they like and dislike, what they want and don’t want. This will all help you to predict your perfect buyer’s needs and to understand your customers on a more personal level. What this all leads to is that you start thinking like your buyer and you begin to “Know Your Market”.

You will stop viewing your customers and market from a “keyword” point of view.

Quantcast: How to Use This Great Site!
1) — Find a popular site where your buyer likely hangs out
2) — Enter that domain’s URL in Quantcast.
3) — Look at the demographic data that comes up – begin to picture in your mind the person that this data represents.
4) — Begin to create the buyer’s personality in your mind and write your thoughts on a piece of paper (I do this with Notepad, print it out and tape it to the bottom of my monitor screen). Have this info in front of you as you work on this niche’s projects. (building websites, making products, etc.)

Here is another great tip to get the scoop on your customers. Look at the sites in your niche that allow advertisers. Look at the section of the site where advertisers are being encouraged to spend money for ads on that site. This is usually called the media kit or publicity kit. Do they have a magazine (offline or online) that they encourage people to advertise in?
There is usually a demographic data section in their media kit. This section will usually have even more in-depth data than the information from Quancast.com. You should compare the two, especially if the site you are investigating has not been “Quantified”.
Cheers and Happy Marketing.

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What Does Your Market Want and How Do They Want It

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