Your product or service could be outstanding, but in order for your business to be a success, you need to be able to locate your audience. If you are just targeting everybody, you could be spamming some, annoying others and your message could be getting lost in the crowd. The starting point to a good business strategy would be to locate your target audience. Here are some pointers to consider when identifying your target audience.
5 pointers to identify your target audience effectively
1. Ask the right questions
You need to ask the right questions to understand what your target audience demographic is. You need to know their age, gender, interests, location, income levels and even religious backgrounds when relevant.
2. Keep an eye on potential competitors
Have a look at who your competitors have their sights set on and also try to gauge their current customers. It is possible that they are overlooking a niche market that could be valuable to you.
3. Consider psychographics
Understanding psychographics is a great way to hone in on your target audience. Psychographics refer to personal traits of an individual. By understanding their attitudes and behaviours, it will be easier to gauge what appeals to them.
4. Use the right resources to gather information
To suss out useful information, chat to people in the same or similar industries and get their feedback. Be proactive and visit business forums on the internet. Try to connect with people who have knowledge of the relevant subject.
5. Be specific
A very common mistake made by business owners and market owners is that they define their customer base too broadly. Aim to be specific. The more specific you are in establishing your market, the more likely you are to succeed.
After you have successfully defined your target market, that process should not stop there. Keep an ear to the ground for changing consumer behaviour in your target audience, and then adjust your business plan accordingly. Give us a call if you would like to brainstorm your business strategy, particularly in the realm of digital, with us.