We last spoke about determining your target demographic. If you spent quality time in this area defining who you were wanting to market your products or services to then it will greatly help you in this step.
Let's take the sample list of habits for teens that we listed in the last post.
Watch music television networks
High School Sports
Heavy music listeners
Spends 40 hours a week in school
Movie theater goers
Now we have to spend some time determining what forms of media are available for each of those areas. To give you an example, we will work through a few of these.
Watch music television networks - teens are obviously what drives the music industry. Yes we all love music but teenagers monetarily consume more music than any other demographic. So, what do they watch or listen to? To answer that we have to list out all of the areas that they listen or view music.
"Top 40" Contemporary Radio Stations
We also know teens are Social Media lovers. Next make a list of social media websites they frequent every day such as Facebook. Continue this
process through all of the areas of interest your target demographic displays. Next, determine the methods of advertising through all of the
targets of interest. For example, Facebook uses Pay per Click or Pay per Thousand impressions. You can actually target region and demographic characteristics through most social media advertising.
Radio station advertising is usually done by radio commercials. Be careful with radio though, because you only want to advertise during the
times they are listening. This is true even on their favorite station.
Once you have exhausted the entire list of advertising methods then you need to begin gathering the pricing of these methods as well as determine the priority of the different habits of the demographic. You will notice very quickly that some advertising media avenues are far
more expensive than others. This is one of the reasons you need to
prioritize the list of habits. If the number one priority is too
expensive for your budget, then you may want to consider the number two priority. This should give you an idea of where you should be spending your money.
One thing you need to note is the fact that advertising results are
better seen when you diversify your advertising money into different advertising media. We will discuss this in the next post.