Follow these key steps to Determine Your Target Audience in a business
To effectively determine your target audience, you must spend enough time analyzing the data you receive from consumer engagements, evaluating current buyers and purchase trends and optimizing as new information is revealed.
The following steps should help you realize your target audience:
1. Analyze Your Customer Base and Carry Out Client Interviews
One of the best ways to determine who your target audience is to look at who already buys your product or service. How old are they, where do they live, what are their interests? A good way to learn this is through engaging on social or distributing customer surveys.
2. Conduct Market Research and Identify Industry Trends
Look at the market research for your industry to determine where there are holes in service that your product can fill. Look at trends for similar products to see where they are focusing efforts, then hone in further on your products unique value.
3. Analyze Competitors
Marketers can learn a lot by looking at competitors to see who they are commonly selling to, and how they go about it. Are they using online or offline channels? Are they focusing on the decision-maker or the supporter?
4. Create Personas
Personas are a terrific approach to obtain a better understanding of the different groups that make up your target audience. This is especially useful if your product appeals to a broad range of customers. Personas help you figure out your target market's overall demographics, personalities, and wants. "Fran First-Time Runner" will cater to a different set of needs than "Sam Seasoned Pro." Personas are created using data, surveys, digital engagements, and any other information available to marketers in order to provide a more complete picture of their customers. Favorite activities, television shows, publications, and other items may be included. Marketers should create three to five personas, according to experts.
5. Define Who Your Target Audience Isn’t
There will undoubtedly be consumers that fall into your target demographic but do not respond to messages. When determining who your audience is and who it isn't, be as specific as possible. Is your population made up of women, or women aged 20 to 40? Knowing this will prevent your teams from wasting money on ad segments that aren't profitable.
6. Continuously Revise
As you gather more data and interact with customers, you will get an increasingly accurate understanding of your target audiences. Based on this information, you must constantly optimize and hone personas to achieve the best results.