Attracting new customers and keeping existing customers is the basis of every successful business. That is why you must know how to find your target audience.
To achieve this, you can either throw together a marketing plan and wish for the best, or you can take your time discovering exactly who needs your products or services.
Not everyone needs or wants to buy what you are selling. That’s okay. One of the best ways to make your business successful is to identify your target market.
If you don’t have a clear target audience in mind, your marketing campaigns are probably a waste of effort, time, and money.Targeting a particular market does not mean that you are eliminating people who do not meet your criteria. Click To Tweet
A more effective approach is to concentrate your messaging and budget on a particular market that is more prone to buy from you. This is a much more affordable and effective way to reach prospects and generate business.
Identifying your target audience allows you to:
- Estimate how much demand there is for your product or service
- Modify products and services to meet customers’ needs
- Design a marketing campaign that reaches the appropriate people, using the tone and language that engages them
What Is the Target Audience?
A target audience is a particular group of buyers interested in your products, services, and promotions. It’s crucial to understand your buyer’s group, especially factors such as age, location, income, behaviors, and interests.
For example, if you are a physical therapist, your target audience might be athletes who are healing from injury; senior citizens looking to maintain movement; or middle-aged people with back pain.
Marketing success begins with finding your target audience, and so the obviously questions is…
How to find your target audience?
Here are a few points that will help you define your target audience.
How to Find Your Target Audience?
#1 Understand Your Market
Needless to say, to identify your target audience, you must understand what your target market is. In order to do this, ask yourself these questions:
- Who would benefit from my products and services?
- Do my products and services have a specific niche?
- What is the unique selling point of my products and services?
- How much competition will my business would face in the market?
- Who are my competitors?
If you are able to answer these questions, then you can begin creating your unique brand image.The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. - Peter F. Drucker Click To Tweet
#2 Create a Customer Profile
The people who are most inclined to purchase your products or services share specific characteristics. To identify these possible customers, create a customer profile and at least include the age, gender, and location.
Do your prospects mostly fit in a specific age bracket? This is essential because consumers in different age groups will react differently to how your product is produced and marketed.
Generally speaking, the needs and goals of men and women are usually different. If you advertise your business in a way that fails to address these differences, you could end up attracting only a few people of either gender.
The United States is a large country. Widely speaking, the shopping practices of urban citizens generally differ from people living in rural areas. Where people live and the types of societies they live with, also impact buying choices.
Other important features cover marital status, profession and industry, hobbies, and interests. This is what a buyer persona should look like.
According to HubSpot,
“A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers. When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals.”
According to “Buyer Persona Manifesto” by Adele Revella,
“It’s an archetype, a composite picture of the real people who buy, or might buy, products like the ones you sell.”
Once you know your target market and your basic buyer persons, you are well on your way to knowing how to find your target audience. Take a step further and download this buyer template to create your own in-depth buyer persona.
#3 Look at Your Existing Customer Base
To find your target audience, take a look at your current customers. It is quite possible that other people similar to them could also benefit from your product or service.
- Who are your current buyers, and why do they purchase from you?
- Look for common things and interests.
- Which customers bring in the most business?
Moreover, if your customer base is truly different, you must give some time to your business to develop some patterns. Also, you can divide your customer base into various types of customers and do some experimentation to understand if you can get any information.
#4 Conduct Primary Market Research
You can learn about your target audience through primary market research. Primary research includes learning about customers shopping practices through direct contact.
Distribute surveys to current and possible customers through a paper, email or online surveys. For example, Airbnb politely asks for customers’ opinions after their stay, giving them the space to decide whether they want to share their feedback or not. In fact, Airbnb has increased the number of bookings by 25%, just with their referral program alone.
Interact with people you believe and whose buying habits fit with your business. For example, follow up with your buyers and ask a few questions to learn more about their opinions and purchasing process.
As part of your primary research, consider asking customers to fill out forms when they buy your product or service? Ask them to share information on an optional basis. From there, you can collect an original customer profile.
#5 Identify Problems and Requirements
One of the best ways to define your target audience is to put yourself in your consumers’ shoes. Find out what problems and demands they have that your company solves.
Think about the particular needs. Do they want fast service or 24-hour customer support? Do they have kids and need special services? What regular activities do they perform that you can make easier for them?
Once you have an idea of your customers’ demands and issues, you can start working out who is the most likely to experience these problems.
#6 Observe Your Competitors
Another method when you wonder how to find your target audience is to research your competitors. Go through their business website, social media feeds, and find their best selling products or services.
Understand who your competitors target, and observe if that demographic matches your company.
Take all you learn in your research and ask yourself these questions about your competitors:
What’s their market situation?
What are customers actually buying from them?
How about their costing?
How much are their clients willing to pay? Will they spend more if you offered something extra?
Are reviews presenting opportunities?
What weaknesses did you notice from their reviews that you can address with your business?
Finding your target audience is the foundation of marketing. With this information, you can connect with the appropriate people, and improve the quality of those engagements.
Start defining and knowing your target audience to make the most of your valuable resources.
Have you identified your target market? How has it influenced your marketing campaigns? Let us know your thoughts in the comments section below!