To be successful in any business, you need to know your target audience. Many businesses often overlook thetarget market profile during marketing. However, when you don’t know who you are targeting, you’ll post your content to everyone and hope that your target audience sees it and take action. While this has worked for some, you have very slim chances of growing your business or making huge revenues.
Choosing your target market helps you focus your products/ services on a group already interested in them. As a result, it saves you time and money. We have put a list of questions to ask yourself when identifying your target market.
What are Your Target Audience’s Demographics and Location?
The target demographic is your audience characteristics. Consider things like their age group, marital status, and gender. This will help you understand whether they are a good fit for your company.
You also need to identify where they live when finding your niche. That will help you design location-based marketing campaigns suitable to them and your company.
What’s Their Income and Industry?
Determining how much your audience earns helps you set the right price range for your products or services. If they are in the low-mid range income, you shouldn’t price your products as that of a high range salary as they will not afford to buy.
It’s also essential to consider the industry they work in to structure your business model in a way that benefits them. For instance, if your target market is a software development company, your company can benefit most if it sells computers, mice, and such devices.
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Who Would Buy My Products or Services?
Identify the problems that your product or service can solve. Then use that information to determine the people who will benefit from that solution. Your target audience needs to have a specific problem that they are aware of and that your business can solve. That’s why keyword research is essential in building your business audience. Use Goggle’s keyword tool to determine the specific words people are using.
What Are Their Buying Behaviors?
Once you know the products, services, and features your audience is looking for, you need to determine how often they purchase products. Find out if they will buy more than once from your business or if they are one-time customers. Also, if they will buy again, determine whether it’s on a seasonal basis or they are regular repeat customers. Knowing this helps you plan your business to thrive in all seasons.
It’s also wise to understand the circumstance that encourages the customers to purchase. Are they impulsive buyers, or do they have to save for the item? Again, please think of what will motivate them to purchase from you and not your competitor.
Am I Overestimating My Reach?
When determining your target audience, it’s easy to assume that many people will be interested in your brand. However, instead of making assumptions, connect with your potential customers to understand your audience and narrow down your strategies and expectations for them. You can do this through surveys, small focus groups, street interviews, etc.
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What’s the Best Way to Communicate With Your Target Audience?
Identify the channels where your potential customers spend the most time on. If they are mostly on digital platforms, you should focus your marketing efforts there. Additionally, focus your approach on traditional channels if your audience spends the most time there.
Final Thoughts
Narrowing down your target audience is essential for the success of your marketing campaign. It will help you develop the right marketing message that targets the relevant group. This way, you will save time and money and gain a huge return on your investment.
