You start selling from home!
This is business 101
We all want to see the face of our company on billboards all over the world but first, we have to start from our very own locality. I am not saying that you shouldn’t dream big but as Norman Vincent Peale, the author of ‘The Power Of Positive Thinking’ so perfectly penned,
‘Shoot for the moon. Even if you miss, you’ll land among the stars.’
When roughly translated in the language of business, it means: Even if your goal is to conquer the world, business explosion locally is your first step.
We often ask this question when trying to expand locally, ‘which client would you advise to use radius targeting?’
Before we get an answer to this question, let us first understand what is radius targeting?
What Is Radius Targeting?
Knowing our target customers before any startup is crucial. Customers can make and break our business and if we are not able to attract them, no amount of innovative advertisement can save it.
Therefore, a fair understanding of our demography is required.
When talking about radius targeting, in simple terms it is an advertising technique specifically made for small businesses who are in their initial startup phase to target the local customers. Over here we are not talking about targeting bases like geographical or gender-wise rather a group of locals.
What Are The Different Questions You Should Ask Yourself Before Radius Targeting Your Customers?
Before typing, ‘which client would you advise to use radius targeting?’ over the internet, there are a few more questions you should ask yourself before understanding whether Radius Targeting is even beneficial for you.
- Is My Product Beneficiary For My Local Customer?
- What Is The Ratio Of Customer That I Can Target Locally?
- What Is Hyper-Local Marketing?
- Should I Still Use Radius Targeting If I Want To Expand Later?
1. Is My Product Beneficiary For Local Customers?
Sometimes our local market is not exactly the customer that would benefit from our product. In cases like this Radius Targeting is not the right way to go.
For Example, You sell high-end technology products which will only be affordable by tech enthusiasts or people higher in the economic scale.
That being said, an area can consist of a lot of people with a different demography. Radius Targeting doesn’t mean you have to start your business in your own area itself. Through online surveys, you can choose the locality which will pose an advantage to your products.
2. What Is The Ratio Of Customer That I Can Target Locally?
When you ask any business expert ‘Which client would you advise to use radius targeting?’ their first advice is to always make sure that the ratio of target customers to neutral customers is at least 80:20.
Nowadays, with every facility literally coming to our step, the customers won’t be keen to drive hours for a service or product. Simultaneously, as a busy business owner whose first task is to target locally, you too won’t be taking that leap.
That’s why before setting up a store at a locality and advertising for it, find out whether the target audience is settled in the highest number in that area. First, you start selling to these majority and the neutrals will get attracted, on seeing the buzz.
3. What Is Hyper-Local Targeting?
Hyper Targeting is when you restrict your advertisement to a particular local border where it will be accessible for your target customers to reach you.
Hyper targeting as a concept sounds mediocre, especially for someone who is planning to target big. Although, it is being surveyed and seen that if you want to receive all the benefits of radius targeting, hyperlocal targeting is an important part.
This can help your company progress at a steady rate. No customer is less than the other. If today you receive a sale from someone in your neighborhood, tomorrow with the power of word of mouth you will have three more.
Through Hyper Local marketing, people will know about your company faster. Hence, this is the perfect method for people with startups.
4. Should I Still Use Radius Targeting If I Want To Expand Later?
Sometimes we want to have our feet on two boats at the same time. Lucky for us, if maneuvered properly, it won’t affect the business negatively.
Radius Marketing is advertising to your immediate customers. In no way does it imply to be the definitive method. It is more of a strat and then once your company explodes in the local market you can start with other advertising strategies that will help you expand all over the country.
Then probably with a little planning, you can even cross the international borders!
What Are Some Of The Pros And Cons Of Radius Marketing?
If by now you have received the answer to the question of, ‘which client would you advise to use radius targeting?’
Then you should learn some of the pros and cons of this kind of marketing.
- If you are just launching your business this is a very budget-friendly option.
- Although, you can sell online, as most of the customers are local it can bring them to you. Hence, e-commerce+Brick Mortar will give you efficient engagement.
- Your target audience is in small concentration [for now] so it will allow you to create a good relationship with them. This is the time to establish your company as a customer-friendly one.
- To find localities specific to your benefit could be a little time-consuming.
- You might still find difficulty in finding the majority of relevant audiences in your area.
As said before, Radius targeting is not enough for your company. It can be a good starting point for you to know your clients and create a name.
However, if limitless expansion is what your goal is you have to find a locality that will give you the maximum explosion to your products or services before you type again, ‘Which client would you advise to use radius targeting?’.
Deepanwita has always considered writing as the ultimate weapon to share every thought an individual ambles through. For her writing is not just an activity it’s a motivation for the scarred mind. She loves writing in genres like fashion, lifestyle, literature etc.