Target Audience Definition: Who, What and Why
You may have heard that the customer is always right.
But who's the right customer? And why all that hassle of knowing them?
This article will help you identify who's buying what you're selling, plus the importance of knowing your potential customer and target audience and where they're at in your sales funnel.
Relevant Reading:
TOFU, MOFU, BOFU: What They Are and What They Mean for Your Business
How to Reach Your Target Audience Through Content
What is Your Target Audience?
First, let's get this question out off the way.
A target audience is a group of potential customers that share common characteristics and are most likely to buy your products or services.
A Canva example will help shade more light here:
Canva is one of the behemoths in the world of creatives, design enthusiasts, and designers. The company can split this large group into various target audiences based on how its users use the tool. They include:
- Teachers: The tool helps them craft posters, worksheets, and infographics.
- Social Media Marketers: They use Canva to craft scroll-stopping visuals
- Content Writers: We also love Canva! It's our buddy when it comes to spicing up content with well-designed images.
Here are some great target audience examples to make definining your brand's audience simpler.
Why Knowing Your Target Audience Is Important
We can summarize our answer into two reasons: Time and money! For more, be our audience to the end.
1. Know Your Customer Base
You need to define a specific and narrow audience, otherwise known as the customer base. For instance, if you're targeting students, narrow them down into various categories based on factors like proficiency level, course, and age.
Providing MBA-level subjects? Your best bet is to target students in business schools or those who study related disciplines. Drill down into the nuances to ensure your campaigns are tailored to the potential buyers.
2. Save Costs and Boost ROI
Rolling out an ad campaign during the Super Bowl will attract more eyeballs and turn them into leads and actual customers. Right? Well, not really.
That tactic is costly. Also, only a few people might actually want to know more about your product.
The better option is to go where your audience hangs out. For example, an ad in a running magazine will do better if you deal with athletes' shoes, even if the audience is fewer.
Targeted marketing can skyrocket your open rates and CTR at reduced costs, saving your nerves and pocket. In fact, the cost may nosedive by 55% if your audience analysis is excellent.
3. Identify Growth Potential
Who doesn't want to expand and spread their business tentacles? Often, narrowing down your target helps you gain more insights into serving your audience better.
If you're a milk-free ice cream vendor, vegans and lactose-intolerant people are your best target market audience. They can share new ideas and feedback on how they like their ice cream served.
Remember, the customer is king
.
Listen to and serve them well, and they'll come back for more. In fact, 80% of consumers are more likely to embrace a brand that personalizes the customer journey. And the best part? The next time your die-hard customers come back, tagging along behind them will be a train of their friends, families, and pets.
4. Beat the Competitors
Poor targeting strategy leads to poor customer service. The result is your customer fleeing into your competitor's wide-opened arms. So targeting puts you many miles ahead of your competition.
An individual looking for a specific solution will eventually settle with one. A prepared and targeted marketing approach will increase your chances of reeling in the potential buyer.
What are the Types of Target Audience?
Choosing the right audience for your brand isn't a walk in the park. But with research, experimentation, and experience, you'll finally nail it.
Your best bet is to consider these factors:
1. Demographic Data
Dig up your potential customers' backgrounds- Their gender, age, marital status, income, ethnicity, race, and religion. Collecting this data is a breeze since in-depth analysis isn't necessary.
2. Geographic Details
Want to fine-tune your audience further to discover golden opportunities? Research their location information. For instance, if you're creating a surfing equipment ad, you may exclude Nordic countries and focus on the South. That way, your budget is used in a better way.
3. Psychographic Details
The information allows you to understand your ideal customers like the back of your hand. It includes hobbies, users' traits, interests, preferences, social class, and beliefs. You can dig up these data pieces from the customer preference center, customer's behavior on your site, or by asking them via email.
4. Behavioral Details
How are people interacting with your platform? With this information, you can craft customized ads based on what they view and add to their carts. That's how pros turn eyeballs into leads and clients.
What are Some of the Tips To Fine-Tune Your Target Audience?
You now know the "why" and types of the target audience. So, how can you define your target audience, serve them better, and reap all those benefits?
We will be honest with you here- finding and defining your dream target market or audience isn't a walk in the park.
But it's possible if you play your cards well. Here are our tried-and-true tips:
1. Conduct Client Interviews and Target Audience Analysis
Who already purchases your items or services? Your homework is to find out your current customers' age, where they live, interests, and other details through interviews.
2. Be as Precise as Possible
Whether you're analyzing your potential or current customers, your target audience analysis should be as focused and in-depth as possible. For instance, advertising to mothers in New York won't cut it.
A better option is to target working moms aged 30-50 in New York with kids aged five years and below. As precise as that!
Laser-targeting your audience skyrockets inbound marketing efforts.
3. Research Industry Trends and Target Market
Conduct target market research to identify holes and gaps your brand can help fill. Study the trends for similar products and brands to understand their focus. Then hone in further on what makes your offerings stand out.
4. Choose A Relatable Audience
Your audience doesn't have to be your best buddies for them to purchase from you. But choosing a crowd that you can relate to (behaviors, goals, and intentions) makes your work a breeze.
That way, you can better craft compelling emotional marketing campaign and content pieces.
This tip shouldn't be tricky if you're passionate about your business. Your target audience will naturally be a crowd you can fit in comfortably.
5. Design a User Persona
Craft a user or buyer persona from the details you collect about the target customers- behavioral, psychographic, geographic, and demographic information.
A persona is an avatar that guides you when making crucial customer service decisions in the future. You can even name it Suzy, Thomas, or Regina. Then team up with these guys (several personas) to make wise decisions.
Suppose you're designing a marketing plan, ad campaign or want to rename your product. The persona will help you know whether your decision is a hit or miss.
Let Zoey Writers Help You Reach Your Target Audience
Identifying your ideal customers is one thing. Communicating with them is altogether another task in every marketing campaign. But don't get overwhelmed.
Let's help you design a marketing strategy and pieces of content that speaks to your target customers and convinces them to purchase. Try us today!
Photo by Papaioannou Kostas on Unsplash. Thanks, Kostas:)
