Currently, we inhabit a society that is home to a number of coexisting generations – the Silent Generation, Baby Boomers, Gen X, Millennials, and Gen Z. Each one has its own unique history that has defined its outlook, morals, and approach, with various social, economic, political, and religious movements helping to shape these aspects.
Millennials, for example, have experienced not just one, but two ‘once-in-a-lifetime’ economic crises during their ascent into adulthood, whilst Baby Boomers occupied the post-war period, celebrating newfound freedoms and the relinquishing of restrictions that were in place as a result of the Second World War, and Gen Z have grown up with technology pervading every aspect of their lives – for them, rotary and home telephones are ancient items that they struggle to understand fully.
Alongside the unique experiences of each of these generations – and those that will follow on, such as the recently-labelled Generation Alpha (or Gen A), comprising the youngest members of society – social status, country of origin, gender, race, religious affiliation, and sexuality each create their own standalone environments that impact the way a person develops and the experiences to which they are subject.
As a result, the wants and needs of these various groups and generations differ substantially. In the world of retail – whether you’re selling products or services – this can make identifying and targeting your ideal consumer audience fairly complicated, as there are number of factors that you need to bear in mind when designing your brand and setting up marketing streams.
So, how exactly do you go about reaching your target audience and piquing their interest?
There’s tons of advice out there about starting a business and marketing it in a way that makes it attractive in the eyes of your demographic. And whilst that’s all well and good, this advice predominantly consists of very generic information that fails to ascertain exactly how you decide on said demographic – a key aspect of the process, in our humble opinion.
The first thing you need to do is look at yourself, as it’s likely that your product or service is going to be aimed at those similar to yourself (at least initially, anyway) – what age/social/economic/religious/political bracket do you fit into? What are your unique traits and idiosyncrasies? What niche would you say you fit into, in terms of hobbies and pop culture loves? Each of these questions is vital, as it will help you to establish the various methods you can employ and platforms you can utilise to attract your target audience, based on what you would be interested in, marketing-wise.
Once you’ve established your target audience – maybe you’re specifically aiming your products or services at young mums who are lower down the economic bracket, with active social lives and a keen interest in modern pop culture, and who are searching for decent bargains to kit out their home or start preparing for Christmas – you can start looking at the different ways and places you can reach them.
The issue with this process is the overall cost, however, particularly when you’re just starting out and don’t have a huge amount of cash with which to play around. Many platforms require you to part with money in order to advertise your business – and, if you’re having to pay daily or weekly for such advertisements, the costs can quickly skyrocket.
Online auctions have increased in popularity over the past decade or so, and savvy shoppers will inevitably looking for cheaper options when it comes to purchasing the items they want. So, let’s take the young mum demographic mentioned earlier as an example – chances are that their children request all sorts of expensive games and gadgets when birthdays and Christmas come around, right? Well, this is where an auction house would come in handy for retailers and individual sellers who have such items to sell.
If you were to list these items – such as console controllers, headsets, keyboards, games, handheld consoles etc – in a William George collective auction, you won’t be responsible for the marketing and advertising as this will be managed for you, ensuring that the right audience for your items is targeted. This is done in various ways, such as Facebook advertising that targets specific groups and marketing emails where the recipients are specifically chosen according to those deemed most relevant for the products.
Essentially, yes. Having an expert manage your marketing is incredibly useful at reaching the right people, save you a lot of investment and help to make your business more viable.
Once the word has gotten out there and you’ve built a loyal, repeat customer base, you can start tailoring your copy and developing your brand voice with your audience in mind, adding these touches into your lot descriptions. Ideally, your voice will reflect your own, making it easier for you to pitch your tone correctly and retain customer loyalty.
The benefits of working with an auction house such as William George includes the lack of financial input on your end and access to a dedicated account manager to help you succeed and do the best you can with your items for sale. You’ll receive advice about the best ways to market and describe your lots, how you can go about obtaining more interest, and have someone to bounce your ideas off who’ll also help with any problem solving should you need it. Great, right?!
Where you go after this is entirely dictated by your initial effectiveness in attracting your target market. But first, it’s definitely a good idea to identify your audience, and then find a base platform and advertising method that you can use to get started making a name for yourself. So, why not use us to help you on your way?
To get started, you'll find loads of information on our Seller Hub.