Prospecting for Sales
Attracting Leads
There are many opportunities to market your products over the Internet and in choosing a program, it is wise to determine who the market will be. This is an important consideration, because some target markets have different shopping habits. Some age groups like to shop for value, some rely on recommendations of friends, and some rely on traditional forms of advertising.
Finding the Best Deal
For example, if the target market consists of the people between the ages of thirteen and thirty-one, these consumers are known as Gen Y. The characteristics of a Gen Y shopper is that they are typically very digital savvy, having grown up with computers, mobile phones, mp3 players, and iPods.They know their way around the Internet, as they spend most of their time surfing there.
The Ideal Entrepreneurial Opportunity
Therefore, the Gen Y’ers are most likely to have an Internet business and would be seeking for a way to market their products through virtual credit card terminals, which accept credit card payments over the web.As shoppers, they read newspapers and watch televisions online.They are active in many of the social networks and use mobile phones for their updates.Since they have a short attention span, they watch video presentations of products.
As they are very socially conscious and aware of worldly events, they use the Internet to acquire knowledge about the products that they need. Therefore, they are likely to be informed shoppers, making up their own minds about desired products and services. Providing information about the products in the places where they like to frequent for information would be a wise move.
Interestingly, this target market is one of the two groups which have not significantly cut back in their spending habits, as they have not yet accumulated assets.While thirty-three percent of Baby Boomers and Gen X’ers have reduced their spending, only twenty-five percent of Gen Y’ers has significantly cut back on their spending. If individuals are seeking to start an Internet business, this would be a good target market.
Customer Service Tip
Conversely, if entrepreneurs are looking to create brand loyalty in their patrons, the Gen Y group would not be an ideal target market. They tend to choose the “hot” new item and rely on the recommendations of their friends for products. However, if entepreneurs are creating a loyalty program, this would be a great market, if you win their business, as they are likely to involve their friends.
In conclusion, the Gen Y target market is a great market to target if business owners plan to sell their products over the Internet, as this is a tool which is they use for socialization. However, they are not likely to be long term patrons.
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