Are Your Promotions Reaching Your Target Market?

Marketing

Are your promotions reaching your target market?

Look at your customer profile and list all the media they might consume. What do they read? What do they listen to? What do they watch? What events do they attend? What social media sites do they visit?

Are you currently promoting via these avenues? Are you promoting via avenues that your target market don’t consume? If you are, this is a waste of your marketing budget.

Stop doing things that aren’t working.

Think about your ‘ROI’, your return on investment. Is the value of the customer worth more than the price you pay to attract them? If not then that’s a bad return on investment. If you pay £10 for an ad and you attract one customer that purchases a product for £100 then that’s a good return on investment. You’ve made £90.

Consider your promotions this week. Work out the cost of your advertising activities versus the income you receive from them. Make a list of new ways to promote your business and set up some small tests to see what the ROI is like.

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