How to define your target audience
For any business, new or old, big or small, defining your target audience or target market can be tricky, but it is paramount to your success.
One of the biggest mistakes is trying to appeal to everyone. Businesses may say that they target small business owners, homeowners, or students, but all of these targets are too general. By being more specific you can focus your marketing efforts more precisely.
Here are our top tips to help you define your audience:
What problem does your product or service solve?
A good starting point in defining your target audience is to understand the problems that you solve for them. For example, you might run a restaurant that caters to people with gluten intolerances. Once you work out what problems you could help people with, you can start to narrow who these people are and where they can be found.
Focus on your niche.
You’ll find that you get more from your marketing endeavours if you can narrow your niche and effectively be a big fish in a small pond. For example, you might offer web design services but target specific industries like fashion or healthcare.
Clarify what makes you unique and remember that you can’t be all things to all people.
Who are your customers?
Look at your current customers and profile your ideal customers. Figure out who has a need for your product or service, and also who is most likely to buy it.
Consider factors such as age, location, gender, education level, income level, occupation, family background and marital status. Once you have outlined those factors, you need to also consider the psychographics of your target. These are more personal characteristics and can include personality, attitudes, beliefs, values, lifestyles, behaviour, interests and hobbies.
You may end up with quite a few customer segments to target, so it can be helpful to give them a name and persona. This is great so you can always refer back to them and see if what you’re doing in business is serving the needs and wants of your personas, who are ultimately your customers.
Look at your competitors.
Having a look at your competitors that perform well will give you some insight into who they are targeting and what methods they are using to reach these people. You may even find a niche that they are overlooking.
Once you’ve worked out who your target audience is, make sure you also research if there are enough people in that market to target and if they are able to afford your products or services, and also what benefits you can offer them by choosing to do business with you.
Need help defining your target audience? Contact us.