A business must understand what is a target audience, before it can determine its own target audience. A target audience is a business end consumer, who are interested in a company’s products or services. What defines the target audience are demographics, interests, lifecycles, and even geographics. These are the people with the highest chance for conversion. A business needs to approach specific audiences to improve customer lifetime value and conversion rates. By knowing the target audiences, it will help companies to customise their messaging to encourage sales and build consumer loyalty and trust in their brands.
Why is knowing the target audience important?
Knowing and understanding the target audience is one of the most important things in marketing. It directs campaigns to those who are interested in or may become interested in a company’s products or services. The more precise a target audience is, the better a corporation can advertise and market to them, and the higher the conversion rate will be.
The objective of targeted marketing is to have a better understanding of a customer’s behaviour. Some people make impulse purchases, while others try to explain or justify their purchases over a longer period of time before converting. By understanding the interests and behavior of customers and potential customers, it will allow businesses to easily target them with the right strategy.
How to get to know your audience?
- Do some research in advance.
First, do your market research, and make sure the demographics you’ve selected are the right ones for your brand and product. Don’t narrow yourself to the single demographic you assumed at the start, learn about related niches and gauge interest in your product from other areas by expanding out. You should be able to make at least a few conclusive statements about your target audience after leaving with enough information.
- Analyze your competitors.
In some ways, this is an alternative form of market research. Here, you’ll be looking at your competitors (at least the ones who share the same target audience as you). Examine their brand, its voice, the marketing strategies they implement, and the messaging they use in their advertisements.
What methods are they implementing? Why did they use this particular phrasing instead of something else? Why did they choose this image over that one? Even if your competitors don’t know what they’re doing, you can start noticing what doesn’t work or what appears to be incorrect — and why.
- Create a customer persona.
Customer personas are a tried-and-true strategy used by companies all over the world to better understand their target demographics. You’ll use this segment to visualise an outline of your ideal “target audience”.
Most of the time, this takes the form of a fictional character that you create by filling in details like education level, family life, career and income, and possibly even a name and personality traits. This helps in the conceptualization and “talking to” of your typical target customer, and it’s also a great way to bring your other team members up to speed.
- Get to know your clients personally.
This is a big step, but you can only start taking it once you have some existing customers. When working with your clients one-on-one, take some extra time to get to know them on a personal level.
When they talk to you, what do they usually have on their minds? What draws them in, what scares them, what excites them?
You won’t always be able to apply these perspectives to a broad audience, but as you get to know more clients on an individual basis, you’ll notice correlation and be able to make useful value judgements.
- Monitor reader comments and engagements.
Comments and engagements are particularly important if you’re running a content marketing or social media strategy. Your objective here is to pay attention to how many people are responding to your work, how they’re responding, and how often they’re responding.
In general, the higher the number of engagements, the better your campaign is doing. You can use this data to figure out what types of content your audience enjoys and what types of messages they don’t. Track these numbers over time to spot trends and learn more about your target market.
- Conduct surveys
Finally, the simplest method for learning more about your audience is to ask them questions. It doesn’t take much to create and launch a survey, especially with today’s modern tool that we have. You can ask your social media followers and email subscribers anything you want to know about your target audience by putting it in the form of a question. You can then quantify the results and analyze with all the information you need. The only drawback is that you may need to provide a prize or reward to encourage participation.