The Importance of Identifying the Right Target Audience
Picture this: you are thinking of all the possible marketing tactics you can employ for your business. The carousel ad you saw on Facebook showcasing different products, the Instagram story Ad while you were browsing your stories, and the Google Display Ad that you saw as you were surfing the web made you wonder the kind of reach your business can get simply by trying out these different digital marketing efforts. But when you sit down with a marketing expert and they ask you about who you are targeting, you realize you haven’t thought about that part yet.
Who is the target?
Knowing who your target is the first step for any company when it comes to developing an effective marketing strategy. A target market is a set of individuals that share similar needs or characteristics that your company hopes to serve. These people are targeted to be the end users who will be purchasing your product.
How do you determine the target market?
Because you want to get the most sales out of your marketing efforts, perhaps you’re thinking about capturing the interests of as many people as possible. However, in marketing, the opposite holds true: the more defined and clear the target, the more chances your marketing will work.
When you define your product and what it does, it becomes easy to determine who the end users will be and what they will like the most out of your offering. The key is understanding the needs of your customer, their pain points, and how you can meet that need with your product. This is possible through market research such as customer focus groups, industry reviews, or market surveys.
Making specific messages
Once you have successfully narrowed down a target market, then you can begin thinking of messaging that can appeal to them. This is important as it is about how you approach and come off to your possible clients. How you would approach selling coffee to someone who wants the premium coffee experience would be different to selling coffee to a busy worker who needs coffee to stay awake. Each target segment has different and unique needs and the message has to be one that clearly gets across how their needs can be met with the product.
Getting the audience right
Usually, the target audience is also the intended recipient of your marketing message but sometimes, it isn’t so clear cut. There are some products where the buyer of the product is not the same as the end-user, so in cases such as this, it is important that the messaging is to the person who is making the purchase. In some cases, this does not ring true. An example would be toys for kids because while the parents pay for the toys, the kids get to influence their parents to buy the toys so in this case, it works that the toys are marketed directly to them.
Being more cost-effective
Knowing who your desired target market is, makes it easier to make decisions when it comes to budget allocations. If you have a much narrower targeting, you will save on money and get a better return on investment. For instance, you would get better results by targeting women aged 20-30 and into cooking rather than targeting just women. Your money is not going to waste on wasted audiences if you have clearly defined your target audience because you are taking out of the equation people who are unlikely to purchase your product.
Now that you know about the first step to an effective marketing campaign, you are ready to move onto the next stage. Here in iManila, we believe in the importance of getting the right message across to the right audiences. We are dedicated to helping you achieve your business goals through the right digital marketing. Learn more about how we can work together.