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How to Choose Your Ideal Audience

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Marketing Podcast with Susan Baier

You know what I love about the fact that I’ve been in business as long as I have – I finally figured out who I want to work with. No, really, it takes time.  I’ve been working with my ideal client for a number of years now but it’s still a work in progress, constantly evolving as the world evolves.

Once you figure out who makes an ideal client for your business, it’s job number one to go out and communicate with them in a way that helps them understand your ideal business or individual to help them get what they want.

Basically, I’m talking about what marketing have long referred to as market segmentation, but it’s taken on new, important dimensions of late as much of the buyer’s journey is now controlled by the actual buyer.

My guest for this week’s episode of the Duct Tape Marketing Podcast is Susan Baier, Founder of Audience Audit – “a little research company with big ideas.” Audience Audit provides custom segmentation solutions for smart agencies and their clients. Susan and I talk about market research and the strategies associated with segmentation.

Having more than 25 years in product and brand management, market research, and strategic planning, Susan has developed a passion for helping companies identify their ideal audience.

Questions I ask Susan Baier:

  • When businesses hear the term “research,” often they feel that it’s going to be expensive and not always relevant – how do you react to this?
  • What’s the best  approach for small businesses that don’t have a ton of funds or resources?
  • How do you take culture into consideration when you’re helping a business identify their target audience?

What you’ll learn if you give a listen:

  • How to avoid “Dusty Binder Syndrome” by implementing a practical marketing plan
  • Why you shouldn’t focus on demographics when trying to identify your target audience
  • Which research methods provide the best ROI and help you achieve long term success

Learn more about Susan Baier and Audience Audit by clicking here. Check out the newly launched online program, Audience Axis, designed specifically for small business owners.

4 What Is the Best Way to Research a Market for a Start Up Business?

Friday is “Question of the Week” day here at Duct Tape Marketing. Each Friday I’ll tackle a specific question I received via readers or in places where I’m speaking. Submit your question here and if we use it we’ll highlight you and send you a signed copy of Duct Tape Marketing.

data visualization

photo credit: prisonerjohn via photopin cc

Ah, market research, now there’s a juicy topic.

There is an entire industry dedicated to helping businesses try to figure the opportunities that exist for new products and just how to position those products and services in the mind of very specific consumers and buyers.

It’s important stuff to be sure, but few things beat participating in the market and learning first hand in the lab.

There are, however, some new tools that can help businesses and start ups determine the size of the opportunity in a chosen market as well as testing out their messages and models with chosen target segments and finally turning some of that data into visualizations that help make it more digestible for partners, backers and employees.

Getting the lay of the land

Sometimes you just need to know how many potential customers for your ideal target group exist in a certain zip code or how your business idea stacks up against the potential competition in a market. These tools can help you compile basic stats as you formulate your plans and run your financial models.

Asking the potential customer

Researchers have long relied on “panels” of consumers that make up target demographic groups to test all manner of business ideas – remember those Nielsen set top boxes? Today a new breed of DIY tools have come onto the scene that allow marketers to define an ideal client and survey ready made panels of consumers.

Visualizing the data

Once you do your business intelligence and compile some facts, figures and data it’s time to make it look good so it can help you tell your story to investors and potential customers or employees. These tools make data visualization a snap.

There you go, that should keep you busy for a while. Did I miss any tools?