Customer persona information is essential to both business owners and marketers. Without a clear understanding of your customers’ interests and pain points, reaching your target audience is nearly impossible to do. Think about this: how do you plan on creating your digital marketing strategy without even knowing who it is for? With a comprehensive understanding of your ideal customers, creating informed decisions can be a lot easier.
Many small businesses tend to make the same mistake of targeting everyone. While you may think that targeting people of all ages and genders would be an effective solution to reach as many people as you want, doing so would only waste your advertising budget and efforts. For instance, setting your Facebook’s target audience to “All” when your products are designed specifically for women will make no sense.
Determining the group of people who are likely to purchase from your brand is a fundamental part of building a striving business. Thus, businesses need to be able to identify their target audience early on.
Why Understanding Your Target Audience is Crucial for Business Success
According to Marketing Evolution, a whopping amount of $37 billion is wasted every year from ad campaigns that fail to reach the target audience. From this statistic alone, many of you would agree to the fact that despite the efforts in creating sound advertising campaigns, there are still a lot of companies that fail to understand the role of their target audience.
Indeed, it’s highly valuable to determine whom your products are most appealing to. By getting a clearer view of your target audience, you will also get the opportunity to properly conduct your research, just focusing on a specific region or demographic. Furthermore, you can easily conduct an in-depth study about needs and interests, allowing you to revamp your marketing strategy,
5 Strategies to Understand Your Target Audience Better
Let’s take a look at these 5 strategies that can help gain better understanding of the target audience.
Conduct market research
To better understand the different aspects of your audience, you can start by conducting in-depth market research. By performing a SWOT analysis, you’ll gain knowledge about your strengths and weaknesses as well as your opportunities and threats. With thorough research, you can eventually identify vital information about your target audience such as:
- Income level
- Market trends
Identifying all these considerable factors that affect your brand’s market is an essential step towards understanding your target audience.
Establish your customer’s demographics
Unless you’re selling drinking water, you can’t say that your product or service is for everyone. As such, you have to clearly identify who it is for. Is it for men or women? For teens or adults? What do you know about their education level? How about their interest? Once you have established your customer’s demographics. It would be easier to focus your marketing effort on those groups who are more likely to make a purchase.
Identify your customer’s needs
With a clearer view of who your target audience is, you can now focus on identifying their needs based on what your brand is offering. Start by asking yourself this question: what is the main problem of your target audience? What solution do you think your business can offer them to address their problem? By answering these questions, you can eventually create an effective marketing message that can help solve your target audience’s concerns even before they occur.
Determine ways on how your customers will know about you
Understanding your target audience doesn’t just end with brands knowing their demographics and identifying their needs. Once you get to know them better, the next step is for them to get to know you. The best way to do this is to reach them on the platforms they prefer. If most of your target audience are millennials, you may want to spend your resources on social media ads. If most of them are older people, you may want to spend your budget on print ads.
Ask for an outside opinion
Bringing someone from outside of your company can help you look at things from a different perspective. Hiring a digital marketing agency, for instance, who can serve as your brand’s fresh pair of eyes can look at your marketing strategy to make sure that your plan will help your brand reach your intended audience.