Wondering how to identify your target market? Who do you want to buy your products and services? In an ideal world, everyone would, but there are few products or services that are universally appealing. Even those that are need to refine their target audience in their marketing materials. And the first step you have to take is to identify your target audience.
A target audience is a group of people who are united by some common characteristics and whom you wish to tailor your marketing towards in order to win them as customers, subscribers, etc. Depending on your business, you may have multiple target audiences that you attempt to reach through a variety of marketing campaigns. However, you need to have a specific target audience in mind with each campaign you create in order to give the campaign direction.
If your business is already up and running, you should start with the customers or clients that you already have. Take a look at who they are and you will get a pretty good idea as to who is interested in your business. The easiest way to start expanding your reach is to target those who are similar to your existing base.
On the surface, these people may seem to be quite diverse. However, once you look a bit closer, you will likely start to pick up on certain demographics they have in common. Perhaps they are all of a certain age or gender; they might be mostly from a specific region; their social media may show them liking similar pages or sharing similar memes. However, you will notice commonalities.
The more demographics that your existing base has in common, the tighter your marketing approach can be. As such, you want to do whatever research is needed to get the information you need. Keep in mind that you are looking for commonalities overall, not necessarily something that all customers share; it is unlikely that every customer or client will have something in common besides an interest in your business or products.
Stereotypes are something we all rely on in life. They give us a pre-made lens to filter situations through and make them easier to understand. They are also often wrong. When you look at demographics with assumptions in your head, you can make some pretty big mistakes. For example, if women make up the largest percentage of your customers, it would make sense to target women with your add campaign. But what interests women? If you are guided by stereotypes alone, you will alienate many women customers, which is the exact opposite of your goal.
The key to defining your target audience is not stopping at the surface demographics. Let’s say that you notice that your customers or clients are mostly women. From there, you can look at age and family status. You might notice that most are in their late 20s to early 30s, are married, and have children. Dig a little deeper and you may see other trends, such as most stay at home, or work at home, or are teachers. Every small detail helps you to refine your approach and should not be overlooked.