Because you are in business, you certainly are in this massive race to top rated brand status and maximized profits. But how do you align your business strategies so you get a large chunk of the income from the huge market now dominating out there, especially with the competitiveness of fast booming product and service providers?
Well, at AudienceFinders we have the answer; it lies in your intimate knowledge of the one element that makes the equation of product and income an easy one to solve – by retargeting focus on the consumer!
Who is a consumer?
The management study guide would describe them as, “Any individual or corporate purchasing a service or a product for their end-use” So if you are offering a service or a product and someone pays for it, they become a consumer.
These can be classified into various groups based on, demographics, ethnicity, occupations and social status. Why the knowledge of these elements is important is none other than the nifty tactic of focusing your online marketing and advertising energies on relevant contextual potentials.
You would rather spend thousands marketing your movies downloader to the 18-35 range and your project management toolkit to the 25-50 age groups because essentially what motivates each member of those groups can be simulated into a collective description.
What Motivates a Purchase?
With the different categories into which you can place your consumers, you can then learn the characteristic features of each in order to better understand their motivations. Generally, consumers are motivated to buy a product by the three major needs;
- Social Status
- Personal Need
- Gifts and celebratory Purposes
When are your consumers likely to make purchases?
So you know what drives them to buying anything from a bar of soap to complex software, but can you determine the approximate periods of their lives when they are most likely to make these purchases?
There are various events in life that drive a consumer towards considering and then eventually buying a product and these can be anything form a new geographical move, birthdays, anniversaries to any academic or professional shift. Knowing these would enable you to target your product’s visibility at opportune periods of your potential consumer’s various life cycles.
So whether you are just starting out in business, are fast growing or you are well established, if you are worrying about your revenue growth; AudienceFinders’ retargeting campaigns will help you go back to basics and find out how much you know about your consumers and any other potentials you can acquire!