How To Establish
and Attract Your Target Market
Every brand, company and store should set a target market consisting of both a primary and secondary market. Establishing this will help you with your marketing, messaging, imagery and the focus that attracts these individuals. Indigo Industries has a focus of Gen X, Millennial and Gen Z. These three generations have been selected due to their vast buying power and their focus on new technology.
What do you need to know about Gen X and Millennial to attract them?
Gen X is known as the biggest spenders across all demographics. -according to thisisInsider.com. Gen X produces 31% of the total US income and only represents 25% of the population (small generation with big buying power). Digital email is one of the best channels to reach this generation. This generation purchases products that allow them to express individualism. They prefer luxury items, travel, food and wine. In fact, they spend 5.8% of their income on entertainment. This generation spends the most on entertainment compare to all the generations. Scuba falls under the entertainment category.
According to Forbes magazine Millennials spend $600 billion a year.
Three things that intrigue millennial:
Experience - content Marketing
Offer great customer service
For millennials everything is about the experience. This generation is highly influenced by social media and word of mouth. This generation checks their phones 150 times a day. Contrary to misconceptions, this generation prefers retail to online stores. They prefer to “try” products at the store level. This generation is highly influenced by excitement. They want to walk into a store that is an Instagram worthy experience. They love exclusive events and want experiences they can check off – similar to a bucket list (it’s again – all about the experience).
Three out of four millennial will spend money on experience instead of consumer goods. Scuba is the ultimate experience!
Research shows that 36% of Millennial picked a travel destination because the saw it on social media. Travel experience is more important than a fancy car or clothing.
They prefer brands that give back.
What is Omnichannel?
Omni channel approach is an all encompassing shopping experience that allows consumers to choose how they want to shop. Example: Shop on-line, come to the store or shop on line and pick up at the store. THIS IS KEY FOR RETAILERS. IT’S TIME TO INTEGRATE ONLINE INTO YOUR STORE.
Foot traffic to brick and mortar stores has seen a decline of the past few years but the overall value spent on each visit has nearly tripled. What does this mean? It means nearly every person walking into the store is ready to buy. It is imperative you show them something new and innovative.
Indigo has been well aware of this trend and that is why we are continuing to bring new products to market that are different. Indigo is committed to give your customers a reason to keep buy.
Why should you consider omnichannel?
Its brings the customers back to you 2.
It puts the customer first 3.
Data is now give and take
Want additional information or need help with target market?
Contact firstname.lastname@example.org for any comments, questions or additional information.