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.
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