How to Effectively Identify and Understand Your Target Audience
Finding the right target audience for your business is key to making a profit from your business. Having the right target market wrapped around your business ensures that you focus your attention on the people who are important to your business. These are the people who will show appreciation for the efforts you make, through the purchasing of your products and services.
In this blog, we shall discuss who is the right audience for your business. We shall also look into how you define who your target customers are. We shall also focus on how the current customers can help you in targeting your audience. Lastly, we shall build on the importance of understanding your target customer.
Who/ What Is a Target Audience?
A target client is a potential market that will create a demand for the products, services, or skills that your business offers. They are the people for whom you make your products. They consume what you produce. The aspect of consumption makes your target market a very important part of your business. This requires that you invest in understanding all that there is to your audience. After all, your business will only be losses if you fail to identify who you should sell to.
The Importance of Knowing Your Customers
Knowing your target market is important for the profitability of your business. It is also important that your business is strategically functional, to effectively reach the target. Target marketing aims at reaching only a segment of the population. You may want to stick around and know why it’s better to reach a segment of the population, than reach out to the population.
An example of target customers: Sell your company products to, “Working corporate businessmen in New York and Nairobi, aged between 35 years to 50 years.”
The demographic preferences put in place to define your target customers is as follows:
Status Deep focus Description Gender Location Age
Working Corporate Business Male New York & Nairobi 35-50
In this example, working corporate businessmen in New York and Nairobi, aged between 35-50, prefer polka dot ties, and striped ties.
This will help you as a business owner, to aim at reaching your target audience, and selling a product that is relevant to their needs, and which they shall willingly spend money on.
Difference Between Niche Market and Target Market?
Is there a difference?
Yes!! There is.
Although a few of us might have taken a keen interest in this, it is important for us to pay attention and focus on the real and deep meaning that would explain these two phrases. For a start, a niche market is smaller and aims to reach a very specific group of buyers, who are within a target audience.
For example, in our case study above, you can choose to find a niche market of men who prefer to put on red polka dots over black polka dots. You might have also noticed that men in Nairobi prefer a bold and aggressive tie, unlike the men in New York, who just prefer an authoritative black.
You can identify a niche market naturally. You can naturally tell it when many people prefer the prominence of a given character in your products. You may also decide to actively create the niche market. A niche market may end up as the main targeted audience of the business, especially if its lucrative enough for your business to totally depend on it.
The Importance of having a targeted audience:
- You will have a specific language, information, and communication channel that will specifically appeal to them. This eases your content curation process.
- You will thoroughly establish, and meet the needs and demands of your target customers.
- Knowing your target market will help you in getting to know how you will market, and the ways in which you will use your marketing skills.
- Knowing your target market will also help you in achieving consistency in the way you put your message across.
- It allows you to establish a relationship with your clientele.
How to Define Your Audience
We have recently identified the benefits of knowing who you target in your marketing campaigns. The next thing to build on after identifying your audience is “How to define who your customers are.” Defining your targeted audience is a process that involves strategic thinking and some advanced analytical skills. However, you do not need to get so deep in actuarial sciences to figure out who your target clients are.
The first step is to have the customer’s mindset. Being in the shoes of your potential customers will help you in knowing what they would want to experience with your products, and how they will experience it in the real sense.
Identify Their Needs
Think about the specific reasons for which the people would need to have your product or service. Think about how they will need to receive the order they make. Do they want it in less than 24 hours? Do they need instant delivery in the case of selling a service? What are the problems that your products or services address?
Create A Profile of Your Current Clients
You can also make use of your current customers, to understand the audience that you should plan on targeting. By looking at the customers that you have, you should notice various common characteristics that they all have. You can also have an interview with repeat customers.
This will help you gain a broad vision of the people you expect to find while running your marketing campaigns. If your current customers are diverse, look for finer similarities that will help you get a clear definition of the people you need to reach out to. Rather, you can also create groups of customers, from your diverse customer base. After grouping, find out the most suitable group by experimenting your products on them.
This is one fast, tireless, and easy way of knowing the right audience for your business. Observing your competitors will reveal who they address in their marketing campaigns, and the products they sell most. You can also learn the demographic that your competitor reaches out to.
Who knows, you may even identify a weakness or an overlook from your competitors, which you can exploit as a niche market.
Understand Your Targeted Audience
After you have identified your target clientele, your next aim is to have a complete understanding of their personalities. Their lifestyles, their choices and preferences, their habits…etc. Their behavioral patterns help you to create effective advertising content, that will relate to the things they normally do. This understanding will help you to properly hone your services, for the provision of superior services.
A perfect tool makes work easier. Ensure that you implement the knowledge of targeting your audience and this will help you in reaching your market. Create data, and make use of tools that help in keeping consumer data. With time, you’ll have gathered helpful information that will help take your sales to the next level.
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