Your Target Market and Demographics

by Marion G Shaw on January 23, 2016

IStock image, wet hairWhen I speak with potential salon owners, I ask them who their ideal client is.  Usually the answer is “Everyone”.

While we will never turn a client away because she does not fit the profile, no business can be everything to everyone and one of the most important things to do when planning your salon is to think about who you really want to service.  Who do you want in your chair?

This is your “Target Market”.

There are so many things to tie together here.  What age group do you resonate with?  What do they do?  Are they professional working clients who demand high service levels, or do you prefer the more family oriented salon?  What is your salon culture?  What are your stylists like?  What are their ages and what type of work do they do?

You need to build a profile of the type of person you want as a client, then the trick is to pinpoint what their needs will be in the way of servicing, image, pricing and product.  Where will you find these clients?  What will you have to do to find and attract them to your business.  What type of marketing will they respond to?

Now to the demographics.  What are they and where will you find them.

Demographics are the relevant details of the area around your business.

What is the population?  What is the average age of those people, how much do they earn and do they work in the area or travel to their jobs?  Is it a family oriented neighborhood, if so, what is the average size of the family.  Also what is the average home price, the average mortgage payment and the average disposable income.  Who is your competition?  You need to know their image, their target market and their pricing.  In order to be successful in a highly competitive area you need to have a USP.  This is your Unique Selling Proposition – the point of difference that you will have over your competition.  Never go into an area and create something that is virtually the same as the other salons in your area.  What is it that you can do different and better than anyone else around you?  Clients need to have a reason to choose you over those other salons.

I know this sounds complicated, but it is essential to know if you are trying to build your business in an area that is surrounded by your target market with the profile that you have created.

Finding out this information can be challenging.  Most cities, townships, counties and municipalities have their own website which will give you some of it,  however, it is my experience that one of the best ways of finding out these important details is from a Realtor who is experienced in the neighborhood.  If they are good at their job, they will know all of this information.  Not only that, but they can be a great source of referrals. Offer them a free service and get to know them.  If they love what you do they will refer you to new arrivals in the area.  Give them some gift certificates to give out to people who purchase homes, they are always looking for gifts for their clients.

Selecting, finding and catering to your ideal client will bring you success in your new salon.

 

 

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