8 Best Tips to Find Right Target Audience for Your Business
Audiences have the power to define your brand. They are the reasons why several brands have a huge success and many other brands being destroyed. For web marketers, this is perhaps the most defining aspect of their work. regardless of whether you are coming up with a promotional campaign or putting down a piece of article in social networking sites, you should be focused on for whom you are writing, who is going to see the campaign and who do you need to reach out to. Every marketer today engages in some form of promotional activity on the web but many a times they forget to research about their target audience. As a result many organizations found it difficult to reach their ROI within specified budget and timeframe. Audiences matter because they are the key to your success and will be responsible for your SEO, social media reach and adding to the expected traffic to your website. Promoting a product without understanding your target audience can result in more expenses and lower ROI. As we need to understand that every one present on social media cannot be among the target audience. A real estate agent online should be targeting audiences in their early twenties and having an income of $100,000 a year. This is just an example but it defines the concept of target audience. No matter how big your business is! Business is done to survive and gain profit. The main reason why any business exists is its various stakeholders. A Customer or audience of a business forms the part of the main stakeholders of any organization. Therefore, it is necessary to find the right audience for your business. Businesses use their marketing department to promote and create their audience. To formulate successful marketing policies for any business it is important to know who we are advertising to. If we are unaware of our target audience, all the efforts will be in vain. Hence, It should be the very next step when planning your business strategy. In this article, one can understand what does “target audience” means and how to find the target audience for their own business.
What do we mean by “target audience”?A target audience is defined by a group of consumers specified by their age, gender, location, or income. For example- the target audience for most cosmetic businesses is females. Finding the target audience of most businesses is the key to success. Without finding the target audience for your business it is impossible to make a marketing strategy. Tapping the right audience will ensure you know how to advertise and reach such consumers. A lot of research and collecting data is required to know your target audience. It defines the majority of consumers for a business. Some of the factors to find your target audience are: • Income • Type of Occupation • Age • Gender • Location • Education The above-mentioned factors are useful for understanding the purchasing patterns of the consumers. Finding a target audience allows businesses to create advertisements to reach consumers who can relate to their products. It will also make the business aware of what to create next for the same target audience. Before starting your business understand your product and by whom it will be consumed. Now that you are aware of what is “target audience” it is important to understand the types of target audience and how we can reach them.
What are the types of target audience?There are different types of target audience, which means factors that help us further understand who we are targeting. Here are a few categories that can be used to narrow down your search: 1. Purchasing Decisions: It means people who want to buy a certain product but collect prior information about the product. This is helpful in creating marketing strategies to address such customers. For example, people buying mobiles phones, cars, and clothing online require more information about the similar products. 2. Consumer tastes and interests: This means what are the likes and dislikes of the consumers. Tastes and preferences of the customers can affect their purchasing decisions. Knowing this will help you to relate and tap into the potential buying capacity of the customers. For example, people who are interested in baking might be interested in buying new baking equipment. 3. Culture: This will be more genre-specific and the people who follow the same culture share buying experiences. For example, people with a music background love purchasing new musical instruments.
What is the reason to find a target audience?1. Ensuring that you are creating the content or the product for the right audience. Imagine you are all set with your content or product, only to find out that there is no right audience available to invest in it. To avoid such blunders, it is necessary to find your target audience beforehand. 2. Create business that benefits your target audience. While doing business it is important to add value to the shopping experience of the consumers. Build your business around the taste and preferences of your audience in order to grow and expand. It will help create a large customer base. 3. Helps in creating efficient and cost friendly marketing strategies. If you are already aware of your target audience, it will be easy to form marketing strategies. The efficiency of such campaigns will be higher and low risk of ambiguous advertisements. For all the above reasons every business should define its target audience. It is important for the success and long-term survival of the business. By following these 8 simple steps, you can easily understand your target audiences that can help you to define focused marketing strategies to generate better ROI:
#1 Who they are?This is very important point while you are working on defining target persona. Focus on below important factors to understand who they are:
- Demographic (Male or Female)
- Age group
- Profession and Qualification
- Financial status and buying power
#2 What are their demands/expectations?The next step will be trying to understand what your target group wants/expects in specific. Going back to the example of car title loans, your customers will always been looking for lower interest rates and flexible payment periods. On the other hand, the buyer of a luxury automobile would want his buy to be special. You might want to add elements of customization that would make his purchase unique. Always try to understand their issues first and address them with your product or services. By keeping your eyes on competitor’s product and their dissatisfied customers, you can understand those issues easily.
#3 What do they read/what do they listen?The aim is to understand where your target audience gets the information from. If you are a brand targeting teenagers, you would like to have a strong social media presence. However, if you are targeted the retired, you should be focusing on newspaper advertisements. The categorization is the same across age groups and brands on the internet. Some audiences make it a point to go through their news application first thing in the morning. Some others like to check out new notifications on Facebook. Knowing their preferable web addresses allows you build a campaign likewise. For example, if you are in to business that selling women apparel or any products for women, you must be active at Pinterest. According to RJmetics, around 80% of Pinterest users are Female and over 92% of pins are made by female. With the help of this simple analysis, you can easily reach out to your target audiences.
#4 What is specifically great about your product that other competitors doesn’t offerEveryone has competitors in the market. As such, you need to harp upon the specific elements in your products/service that makes you stand out from others. Offer to inform what extra benefits your product provides. Research upon what makes your customers take interest. Understand this simple factor will even narrow down your target audiences who are already buying from your competitors.
#5 What makes them feel intruded?While we are bombarded with brand and products every day, there’s a limit to which a person can tolerate promotions. After that it just becomes a breach of privacy. You cannot have advertisements all over Facebook wall. There’s a space to it. In the same way, you need to understand the limit to which your customer will encourage promotions. This is important if you are planning to build credibility in the market.
#6 Who do they trust?Knowing your audience profile requires you to delve deep into who they are willing to trust and who they aren’t. Stock market players trust the MarketWatch while fashion followers dig deep into the Vogue. You cannot have a title loaning ad in a fashion magazine and vice versa. Once you understand who do they trust, you can easily narrow down your reach to limited placements. One of the best ways to reach these audiences is; connect with those industry influencers who influence the buying decision of your target audiences. Ask them to use your product or services and share their views online. This way, you can gain trust from your target audiences.
#7 What touches them emotionally?Every brand comes with a punch line. While it just seems an extra addition to the brand name, it is actually far more important. It is necessary that you are able to influence your customers emotionally through your promotions and content. For example, if you are selling a sporting goods and your target audience is India. Cricket world cup can be your best time to promote related products as India is the country where each and every person is emotionally connected with the Cricket. Recently I came across this interesting advertorial “Todo Nahi Jodo” by FeviKwik who positively used this technique to promote their product during India vs Pakistan world cup match. They know how Indians are emotionally connected to the game and when it comes to India vs Pakistan match, the emotional level is on the top. By creating such advertisement at right time, you can definitely acquire good business.
#8 MonitorLastly, your promotions, content, etc need to change with the client. Buying is influenced by many things – shift of culture, technological changes, environmental demands, etc. By monitoring this buying behavior you can easily improve the strategies to get better result in the future. Google Analytics is one of the most popular free user behavior monitoring tool widely used by webmasters. Monitoring your audience will only let you become a consistently successful player.
ConclusionIf you have come to the end of this article, you are aware of the importance of finding your target audience. You can use the tips to find the right audience efficiently. It will take a lot of research but in the end, it will prove beneficial. If you own an online business and want to build an effective online marketing strategy for it. Contact us now with your query and start generating a better ROI with less investment. “A successful business is not defined by the numbers but by its customers” Image Courtesy: Sprinklr
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