What is a target audience? A target audience can be defined as a particular group of people that can be interested in the products any firm has to offer.
Why is Identifying Your Target Audience Important?
At the end of the day, the main goal of all departments working together is to make sales and to achieve this goal, you need to capture the attention of your audience so that they can connect to your brand and finally opt to buy your product. For relating to your brand through marketing, may it be traditional or digital marketing and to attract your customers through your branding, you first need to know who will be wanting to buy your product. Unless and until you know your target audience, all your efforts will be more or less in the drain.
Now the main question is, HOW?
Here are the basic 4 steps to recognize and reach the right kind of peopleâ€¦
Problem being Solved by your Product
Every product made has a purpose and solves one problem or the other. What is your productâ€™s purpose and which need does it fulfil. It seems like an easy thing to know as a manufacturer or a seller however it is not. Many firms have struggled throughout time to actually come up with the pest their product kills. To find out which pest is being killed, the following actions can be of significant help:
- Mind map features of your product: Brainstorm different benefits that each feature could provide. Then, list how those benefits could solve problems in peopleâ€™s lives.
- Figure out which people experience those problems: Categorizing these people gives you the first peek into your target audience.
Demographics of the People Facing those Problems
Â Once the people facing the problems are sorted out amongst the mass, figure out their key demographics such as age, race, gender, marital status, income, education and occupation. This completes the second step of finding out your target audience. If your product is not new and has already been in the market you can use a CRM (Customer Relationship Management) Software. A CRM Software can gather data from different sources and present a consolidated form of the data so it can be analyzed for marketing and other purposes. In our case, it can be used to find out distinguished features of our existing consumers.
Explore Below the Surface Level:
The statistics that you figured out in the second step now need to be seen in depth. Each stat has its own layers which can be further elaborated to get a better idea of who the target audience is. For example if the product we sell is mostly bought by men, are they married or unmarried and so on to multiple layers. Diving deep leads to better results and is one of the best business practices to find the right kind of people to market and sell your product to
Test! Test! Test!
Now that you have gone through the demographics and even below their surface, you have found your people. Now the last step is to put your stats to the test to see if what you assumed or gathered from your existing data is true and till when it remains true.