Identifying your target audience, for a
communication that is effective and targeted, is not easy. Find out how on the
PMI blog
Given the current state of the economy,
having a well-defined reference market is more important than ever: “aiming”
randomly is never a winning choice. Indeed, small companies can compete effectively
with large companies only and exclusively by aiming at a niche market .
Many companies confess that they turn to
"anyone interested in my services". However, saying “let's talk to
small business owners” or “let's talk to homeowners” is too broad a set of
goals. Targeting a specific market does not aim at excluding people who do not
meet your criteria. On the contrary, targeted marketing allows you to focus
your budget on a specific market that is more likely to generate customers and
- consequently - business. A convenient, efficient and effective way to
advertise.
But what is the target, specifically ? We
can see it as a target market, a group of potential customers (with common
characteristics) to which a company wishes to sell its products and services.
Identifying the target market is an essential step for any company in developing a marketing plan
.
What
is the target audience and why frame it
Let's consider the example of an interior
design company. This could choose to sell its services to homeowners between
the ages of 35 and 65, with an income of over € 150,000,000 per year. To
further define the market, it could choose to turn only to those interested in
the renovation of kitchens and bathrooms and a certain style.
If you can count on a specific target
audience, you can choose where and how to market your products more easily and
with a greater degree of safety. Here are some tips to help you define your
target audience:
Analyze
your current typical customer : who is the typical
customer of your company and why does he choose you instead of your competitor?
Look for the characteristics that your customers have in common, perhaps after
a thorough analysis of the competition .
Which customers are the most profitable for
your business ? It is very likely that other people with common characteristics
may be interested in your product / service.
Check
your competitors . Who are your competitors talking
to? Who buys from them? Do not look for the same market: rather, it aims to
find a niche they have overlooked.
The
analysis of the target
To analyze the target, it is mainly
necessary to know the product or service that you want to sell. This is the key
that will allow you to access a new marketing concept. Make a list of each
product / service feature . Next to each feature, note the corresponding
benefits. For example, a graphic designer offers high quality design services:
the advantage for the client is the acquisition of a professional corporate
image, related to its mission . Such an image will attract more customers, who
perceive the company as trustworthy. So ultimately, the benefit of a high
quality design is to win more customers and increase your revenue.
Now that the advantages of your offer are
clear to you, ask who, those same advantages, can suit you. The goal is
basically one: to give the person what he is looking for at that precise moment
. In this case the graphic designer could choose to turn to companies
interested in increasing their number of customers. While this is still too
general, you now have a foundation to build on.
The analysis of the target also passes
through some specific parameters, demographic data that allow you to better
select the people who will be part of the reference market. In this way you
discover not only who needs your product / service, but also who is more
purchasing oriented.
The
demographic segmentation
The most used social media platforms
(Facebook, LinkedIn, Twitter and Instagram) allow, with a little practice and
knowledge of the basic tools, to divide users and address them on the basis of
so-called " market segments " .
A farmhouse with rooms, for example, could
intercept married Facebook users with the announcement of a romantic package
for a weekend. LinkedIn,
being more B2B oriented, is instead perfect for targeting companies using a
variety of criteria such as number of workers, industry, geographic location,
and so on.
What are the parameters of demographic
segmentation , and why are they so important? There are six main aspects to
look at:
Kind
·
Age
·
Income
·
Marital status
·
Education
·
Religion
Demographic segmentation is a very
important criterion for identifying target markets: it is precisely on the
basis of the parameters of which it is composed that it is possible to make the
most functional divisions. A wine shop, for example, could choose to orient its
communication and advertising campaigns on the basis of the results of a survey
, which sees young people under 34 prefer beer while, between 35 and 55 years,
it records a clear preference for wine.
The
position
Geographic segmentation implies
segmentation of the market based on location . Home addresses are an example,
but depending on the scope
of your business you could also use:
·
The city
·
The area of the city (if we
talk about metropolis), taking advantage of the local seo
·
The chap
·
The telephone area code
·
The country
·
The region
·
The province
Groups of users residing in a given
geographical area may have specific needs in terms of products and services.
For example, a gardener might decide to focus his marketing efforts on a
particular area of the city, full of houses and inhabited by wealthy people
who prefer to entrust the care of the greenery to a professional.
Interests
and hobbies
In addition to demographic data, in order
to identify your target market it is also important to know how certain
individuals behave , what their attitudes and actions are, what is the
lifestyle and the interest that most attracts them. All these vestments will
allow you to further know their
characteristics and understand if they are suitable for purchasing the
product or service you offer. These are the factors to be analyzed:
·
Behaviors
·
Values
·
Interests
·
Hobby
·
Lifestyle
Finally, small businesses can identify
target markets through consumer buying cycles . For example, a structure that
deals with catering can receive many requests at lunchtime from professionals,
workers and workers in general. The same restaurant can attract families with
small children and young couples for dinner. To the various types of customers,
it is possible to dedicate an ad hoc menu formulated on the basis of their
needs and purchasing behavior.
Your products / services must in fact adapt
to the lifestyle of your target customer .
Did
you make the right choice?
Once you've decided on your target market,
check that you've made the right choice . Ask yourself if there are enough
people who meet your criteria, if the identified target will really benefit
from what you offer. And if it has the necessary spending power for that
product / service. Finally, ask yourself if the intended message is suitable
for reaching it. In fact, each niche should receive a specific message.
The trick is to find the perfect balance
between excessive and non-existent segmentation.
Don't be afraid this information is hard to
find. Spend some time searching online for research that others have done on
your target, and read the forums where the type of service / product offered is
discussed. You could also conduct a survey yourself, perhaps using Instagram
Stories .
Identifying the target customer is the
difficult part of a marketing plan but, after that, it will all be downhill.
When you know what types of users you're talking to, it's much easier to
understand which media to use to reach them and which marketing messages to
use. By targeting only your target customers, you will save time and money and
get a better return on investment.
