Is your brand reaching the right audiences
Having a defined target audience helps your brand and business. Your brand should not be targeting too generic audiences. Right audience targeting allows you to focus your capital investments and brand message on a specific market for consumers who are more likely to buy from another market.
It creates an affordable, efficient and effective way to reach potential clients and generate more and more business.
With a clearly defined target audience, it is much easier to determine where and how to market your company. Here are some tips to help you define your target market:
Look at your current customer base.
Who are your current customers, and why do they buy from you? Look for common characteristics and interests. Which ones bring in the most business? It is very likely that other people like them could also benefit from your product/service.
Check out your competition.
Who are your competitors targeting? Who are their current customers? Don’t go after the same market. You may find a niche market that they are overlooking.
Analyse your product/service.
Write out a list of each feature of your product or service. Next to each feature, list the benefits it provides. Once you have your benefits listed, make a list of people who have a need that your benefit fulfils.
Choose specific demographics to target.
Figure out not only who has a need for your product or service, but also who is most likely to buy it. Think about the following factors: age, location, gender, income level, education level, marital or family status, occupation, ethnicity, etc.
Consider the psychographics of your target.
Psychographics are the more personal characteristics of a person. Determine how your product or service will fit into your target’s lifestyle. How and when will your target use the product? What features are most appealing to your target? What media does your target turn to for information? Does your target read the newspaper, search online, or attend particular events?
Evaluate your decision.
Once you’ve decided on a target market, be sure to consider these questions: Are there enough people who fit my criteria? Will my target really benefit from my product/service? Will they see a need for it? Do I understand what drives my target to make decisions Can they afford my product/service? Can I reach them with my message? Are they easily accessible?
Defining your target market is the hard part. Once you know who you are targeting, it is much easier to figure out which media you can use to reach them and what marketing messages will resonate with them.
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