Targeting a specific audience does not mean excluding all the other ones. Instead, target marketing allows you to focus on a particular customer that is more likely to buy from you than others; this is a more efficient way to reach potential clients and generate business.
Likewise, it is also helpful to identify and study your current target audience; this way you can determine how you can improve your product or service, or find out if there are any missing aspects of it.
Here is a list of some ways you can best identify both, your current and target audience:
Identify Your Current Audience
Marketing research is an essential tool that can help you identify your current audience, set you apart from the competition, position your business and sell your products and services. Furthermore, it can help you see the big picture of your reputation in the marketplace.
Do your market research and get useful information by answering the following questions:
- Who are your present customers?
- What is the reason they buy from you?
- Which customers attract most business?
- Who is your competitor targeting?
Once you answer these questions, write out a list of your product or service's features and the benefits it provides.
Then, figure out based on your research who needs your product or service and who is most likely to buy it. Think about the following characteristics; Age, location, gender, income level, education level, marital or family status, occupation and ethnic background.
At this point, you can make a list of people whose needs your product's benefits can fulfill.
Identify Your Target Audience
When you have a defined target customer, it is much easier to know where and how to promote your business.
The first step to define your target audience is by answering questions such as:
- What is your customer like?
- Male or female?
- Does your customer work out of home or in the house?
- What is his/her job profile? Entrepreneur, manager, an executive, a worker, a stay-at-home parent?
- What is my customer's net household income?
- What is my customer's level of education?
Now that you identified your target customer find out about their attitudes, behaviors, and motivations, the sites they visit regularly, the magazines or newspapers they read.
All of the above is valuable information, which you should use when planning a marketing strategy. Your potential customers just as your existing ones will fall into specific segments or groups determined by their needs, it is your job as a business to make sure and fulfill them by aligning the strategies that best work for both of them.