Entrepreneurship

Identifying The Right Target Audience For Your Brand

What Is a Target Audience?

A target audience is a share of consumers that a business directs is trying to reach with their advertising efforts.

That’s the simple version. Your target audience is who you target with your marketing efforts.

The intention here is to target a group of people with the education, goals, interests, and problems as your ideal customer.

Basically, you want to target people who will buy your products.

If you target people who don’t want to buy your products or don’t have the means to buy your products, you might get more site traffic, but it won’t do much for you. You’ll be pulling out your hair trying to figure out why none of your visitors are buying from you.

Why Finding Your Target Audience Matters

The moment you know your audience, you can perform keyword research correctly and find opportunities that don’t just drive traffic, but more importantly, drive revenue.

Launching a new brand, a product or rendering a service comes with a big risk, but a knowledge of the market structure will minimize that risk.

Reaching the right target audience for your brand is a positive outcome of a good marketing strategy.

Therefore, before you begin marketing efforts for your brand, you need to identify your target audience. The specific calibre that you can expect to purchase your products or services. It will comprise your existing customers and potential customers. You should create content and ads to the interest of your target group.

Your contents or ads message or structure depends on who your target audience is/are. It’s important to note that not all messages resonate the same way with various groups of people.

Not knowing this valuable piece will cost you a lot of wasted time and money.

Now, We Discuss 5 ways to identify the right target audience for your brand. Let’s go!

1. Conduct a Market Research

To Start, conduct a market research to analyze all aspects of the market. You can achieve this through performing a SWOT analysis.

It identifies a business’s strengths and weaknesses, along with opportunities and threats.

This market research can recognize:

  • Location (local, national or international)
  • Demographics (age, gender, occupation, income level, marital status)
  • Psychographics (values, hobbies, lifestyle, personality, attitude, behavior)
  • Industries (medical, accounting, lighting, nonprofit), if a B2B focus
  • Market trends
  • Economic shifts
  • Customer’s buying habits
  • Personality type (persona) and pain points
  • Motivations
  • Competition

All of the factors that contribute to your brand’s market and purchase path, is a critical first step to helping you identify the right target audience.

2. Understand purchase path and pain points

As part of your market research, it’s important to pay particular attention not only to defining your target customers, but also knowing their different considerations to a purchase path, as well as pain points.

Think and ask yourself important questions (like a customer) such as :

  • How can I provide solution to the identified problem ?
  • What Goal or Satisfaction does it bring to my target audience ?

This will allow you to craft contents, that would be centred around purchasing cycle (awareness, consideration and decision).

Creating personas will help you to identify your audiences needs and pain points. Tailored key messages and content that are specifically designed to speak to those personas will result in a higher likelihood of moving them down the sales funnel.

3. Know your existing customers

One of the best ways to identify the right target audience for your brand is to learn about your existing customers from their demographics details.

There are several avenues to explore including:

  • Studying your social media pages and website analytics. This can help you know who is visiting your site, how they navigate it and which website pages they are visiting the most. Also, know who’s interacting with your social media networks.
  • Using tools like Google AnalyticsHotjarHubspot and Facebook Insights, to get extensive information about user responses.

4. Employ multi-segment (differentiated) marketing

This Multi-segment marketing involves leveraging digital marketing, social media, PR and content writing. It aims to gain customers from different market segments to buy the same product.

Some brand sell the same product to more than one segment, due to its mass appeal, while others make several product lines that attract unique groups.

5. Don’t cast a net with a broad reach

Identify individuals who has high purchasing abilities that can buy your products and services. Ensure that you begin with building brand loyalty.

You will end up with people being satisfied about your brand because it’s suiting their needs. An added advantage is that they become brand evangelists and do some of the work for you. You’ll also learn a lot in the process. With those learnings, you’ll grow your brand.

Finally, the better you identify who your target audience is, the more closely you can align your marketing efforts and increase ROI. In addition, identifying your target audience will assist you in ascertaining which tactics to employ, to reach that audience. This will increase the chances of moving them to action.

Leave a Reply

Your email address will not be published. Required fields are marked *