One of the biggest mistakes that a marketing agency can make is trying to be all things to all people. At first glance, casting a wide net seems logical. After all, isn’t it the best way to ensure that your message is seen by as many people as possible? It is, and that’s the problem. Here’s why: Most of those people would never have been interested in your offerings anyway, so your message is lost on them–and so are your efforts, time and money.
Instead, define a very specific target audience on which to focus your efforts. In doing so, you’ll get way more bang for your marketing buck and will set the stage for long-term growth, profitability and success.
Five Tips for Identifying the Ideal Vertical for Your Agency
With a clearly defined target audience, it will be much easier to know where, when and how to market your products and services. Keep these tips in mind to more easily define a target vertical on which to focus your marketing and branding efforts:
- Get to Know Your Current Customers – Much of what you need to know can be found in your sales records. Who currently buys your products and services? What needs are they trying to fill by using them? What kinds of things do your current customers have in common? Consider things like age, interests, education level and the like. While you’re at it, closely examine your biggest customers. What traits do they share? This research should give you a great head-start in defining your ideal audience.
- Scout Out the Competition – Take a look at your closest competitors. What do their customers look like? Who do they appear to be targeting with their marketing efforts? Don’t attempt to go after the same exact audience. Instead, look for niche markets that your competitors may be overlooking, as they could be your best opportunity.
- Consider the Benefits of Your Products and Services – Painstakingly list each of the products and services that your agency provides and the benefits that they provide. Next, consider the problems that these products and services solve. Who typically experiences these problems? These are the folks who could benefit the most from your offerings.
- Define Your Target Audience – Consider the kind of person who is most likely to buy your products and services. They should not only need to buy them but should be able to also. Jot down a list of the demographics that they share, including age, gender, income, education, marital status and occupation. Dig deeper by considering their shared interests, attitudes, values and other personality traits.
- Assess & Grow Your Newly Defined Target Audience – Finally, make sure that marketing to the target audience that you’ve selected will help you achieve your objectives. Will these folks truly benefit from what your agency has to offer? Can they afford your offerings? Are they easily accessible? If so, which media or channels do they typically prefer? Do you understand the motivations behind the decisions that they make?
Finding the right vertical for your agency to primarily serve is a small but crucial part of achieving long-term new business growth. With a specifically defined audience, your sales and marketing efforts will go a lot farther.