Engagement with your target audience is becoming more important everyday. Almost all the countries around the world are trying to find new ways to attract the attention of consumers. And things are getting more targeted than ever. Today, companies are investing in marketing efforts to attract the right consumers for them. This is generally applied as target audience selection and targeted marketing efforts. But choosing your target audience can be challenging. Especially, if you just started your own business.
Of course, there are few methods you can follow for attracting the attention of the people who are really interested in your products/services. Before that, let’s try to understand what is target audience and how can targeting help your business. Then, we will look into how to choose your target audience. If you don’t focus on certain consumer segments, your chances for success might decrease. Focusing on certain consumer segments will help you to devise better marketing strategies for your products or services.
What Is Target Audience?
A target audience is the people/customers that you want to promote your products or services. These individuals can be a specific age group or specific segment. All businesses have a specific audience they want to reach. While this audience can be large for large-scale companies, it can be a smaller group for niche products or services. Still, all businesses need to conduct a detailed research to understand who they will target. This will help you to save time and money in the later stages of your business.
Defining your target audience is key for the success of your business. If you spend your valuable resources on individuals who sre not interested in your products or services, your changes to succeed will decrease. Each resource you have is valuable for your business. You must avoiding wasting these resources. In this sense, identifying your target audiences can play a huge role on your overall success.
How to Choose Your Target Audience?
Here, we will list 5 key factors to help you decide how to choose your target audience. These factors will give you a give boost to understand the consumers you want to convert as customers.
1. Review Your Product Range
The first step to identify your target audience is to look at your own business. Review what products or services you are offering. These will shape your entire marketing strategy and who to target.
For example, if you are doing e-commerce and selling computer parts, your target audience will be individuals who need computer parts. Also, people who build their own computers can be your key audience. But if your product range includes children’s clothing, your key audience will be mothers. These two sectors have entirely different audiences. And this means you will need entirely different messages to reach these audiences.
2. Check Your Existing Customers
You can check your existing customers if you have been in business for a while. Your existing customers will give you a general idea about the demographics you need to target. For example, you can use tools like Google Analytics to understand your audience. There is a special segment dedicated for the “Audience”. From there, you can check the “Demographics” and learn more about the age and gender of your customers.
If you are using Facebook Business, there is a dedicated page to analyse your existing customers. The “Insights” tab will give you all the information you need. These insights are valuable to understand the characteristics of your existing customers. Then, you can start building up on this data. Spending power, social status, gender and age group will give you important data about how to position your brand.
3. Look at The Right Channels
If you are looking for a younger target audience on Facebook, your strategy will probably fail. Each customer segment hangs out on different social media platforms. So, you need to look at the right channels to learn more about your audience.
For example, Instagram and Twitter are highly popular among the Z generation. This new generation spends a lot of time on these social media platforms. So, if you have products like sportswear or smart devices, these two platforms can be a better choice to find your target audience.
Remember, you need to find the people who will buy your products and service. So, try to find where they hand out.
4. Your Competitors Can Provide Important Insight
Your competitors can provide you important insights in terms of your target audience as well as other marketing data. You need to regularly monitor your competitors and learn more about what they are doing. This includes checking their social media accounts as well as company websites.
Since the entire marketing landscape is interconnected, the information you get from one area can help you to structure your entire strategies. Try to think about your competitor search as an integrated process. Check out this article to learn more about how to start competitor analysis.
5. Do An Extensive Market Research
Actually, market research is the key for any successful business. But in some cases, you might need a dedicated market research to identify your target audience. Here, you need to focus on what consumers need and how do they purchase their products. If your target customers still prefer brick-and-mortar shopping (such as older customers or people who love local shopping), you need to take this habit into account. If you are strictly an online business, these consumers might not be your target audience.
The other important point here is to consider the consumption and shopping habits of the individuals. This will help you to target the consumers for your specific products or services. The market research will reveal a lot of things about consumer habits, consumer behaviours and the chances for your products/services in the market.
All of these will help you to understand how to choose your target audience. What is more, you will adapt your strategies to find your audience on the way. Although market research and other first steps play an important role, so does adapting. As you better understand what your business offers, your target audience will become clearer.