Double down

Some companies have more than one target market. A primary and secondary market. This can be more tricky to manage but may be necessary in some cases. It may also be irresponsible to not cater for alternative markets. For example, you may run a local street cafe by day and want to capitalise on your central city location by night and run a cocktail bar. Both audiences may be different but not marketing to both customers independently can cost you dearly.

Of course when starting out focusing my be key but as you conquer one market you may quickly be in a position to conquer another! You may even find you need two digital products to deliver the needs for two different customers. Using analytics on your company website may show you that either your website is not catering for either customer very well or your website is catering to one and not the other.

Obviously you will receive more revenue from one market over another but its important to clearly think about both.

 

Takeaway: Consider your classes of customers and make sure you divide your objectives and budgets correctly