How to Hit a Bull's Eye With the Right Target Market
By Debbie Bermont President, Source Communications | January 14, 2010
If you were to throw a dart at a dartboard, the demographic and psychographics of your target market would represent the outermost ring of the board. This means that if you are targeting all of your marketing and sales efforts using only demographic and psychographic information as your ideal market criteria, you will have a tough time hitting a bulls eye with any consistency. This translates into wasted time, money and resources marketing to the wrong people - a sure sign your property is out of alignment and you haven't correctly profiled your ideal customer.
Here are telltale signs that your property is out of alignment:
The alignment process is relatively easy to understand and apply but so often overlooked by many businesses. If requires four simple steps. Step one is determining your mission. Step two is determining your business values. Step three is determining your business philosophy and step four is profiling the demographics and psychographics of your ideal market.
Most businesses want to skip straight to step four without adding on steps one, two and three which is why a whole lot of money is spent going after the wrong folks. Your hotel property has a specific mission, values and style and philosophy. Those people who appreciate your style and personality and align with your values, your mission and your business philosophy ...and who fit your demographic and psychographic profile are your ideal customer.
The most important thing you can do to ensure that all of sales and marketing efforts are focused solely on attracting only your ideal customer is to put your business into alignment. Let's break the alignment process down step by step.
Step One: Define your mission