The better you know your target market, the higher your conversion rate goes
There, it is done!
I’m putting the finishing touches on a Data-based Growth Strategy for a website selling plus-sized clothing for women.
Did you know that 20% of the revenue actually comes from people who identify as male?
They may be crossdressers (not very likely, but possible) or just buying gifts for their loved ones (very likely).
This discovery surprised the store owner in our earlier call. And I didn’t expect that, too.
Not that I was surprised by the result, no. I was surprised that the store owner didn’t know their target market in detail.
Here’s the thing…
Not knowing your target market you are missing on the opportunity to serve them better.
In other words, not knowing your target market results in low conversion rates — your site is not what they would expect, so they don’t do what you expect them to do (buy). Still, the more you know about the target market, it becomes obvious for you what to do to serve them better and make the sale.
Do you know what you don’t know about your potential customers?