Posted on July 10, 2020
A business’ target audience is made up of their most potential customers. They share similar characteristics and shopping habits that make defining your target audience more important than ever. Any successful marketing campaign depends on having the right target audience, otherwise, your company could end up spending money to advertise your products or services to the wrong customer base.
Keeping that in mind, let’s take a look at some things that today’s business owners and digital marketers should do to find and define their target audience:
Analyse Demographic Characteristics- as mentioned above, your target audience shares certain characteristics. It’s common sense to determine the likeliest characteristics of potential customers. A target audience could be from a specific generation, whether they are millennials, baby boomers or somewhere in between. Consider where most of the customers live. You may consider specific regions, countries, or cities. For some products and services, language is a strong indicator for defining the best target audience. Current stages of life, hobbies, career, and spending power are also good characteristics to define a target audience.
Ask Customers To Fill Out Surveys- a remarkably effective way to define your target audience is to know your customers better. From surveys, it’s possible to understand the motivations behind their buying decisions. Marketers and business owners should see things from the customers’ point of view. It’s important to know which features of the products that customers need and want. It might be necessary to improve some beneficial features or remove unwanted features to reduce production costs.
Investigate Competitors’ Customers- instead of defining your target audience from scratch, it will save time if you investigate your nearest competitors’ customers. Direct competitors with identical products and services should attract the right target audience. Take a look at which customers competing businesses are aiming at. Although you can’t access their analytics data, it should be fairly easy to know their characteristics. Check social media pages, blogs, and websites of your competitors. Marketers may interact with competitors’ customers in social media pages to get some important information. Ask why they become loyal customers of the competitors.
Redefine Target Audience- trends always change in any industry and market. Customers may have rising or declining demand for specific products. Your products and services also evolve gradually. After accurately identifying your target audience, it’s important re-analyse the market and your customers regularly. If certain demographic characteristics no longer match your products, it is important to redefine your target audience.
Contact St James’s House
To learn more ways to define your target audience, contact St James’s House and speak with an expert who can assist you and answer any questions that you might have.
If you enjoyed this article, please feel free to share it on your favourite social media sites.