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Finding your target audience and why it’s important

Finding your target audience and understanding it , is vital to the success of a business. Understanding of your TA will grant content to be effective.

Target audience, and why it’s important to understand what it means. Understanding a TA is vital to creating success.

Firstly let’s understand what a target audience is.

The definition of a target audience is a particular group or segment within a target market that is being served advertisements. In simple terms, a target audience is a group of people who likely want to buy your product or service.

To know a target audience, a business needs to know the basics; age, gender, location, and interests. Having an understanding of your TA will grant the ability to produce marketing campaigns or strategies that will be more effective.

However, targeting your TA doesn’t necessarily mean you are excluding any other markets. Marketing can then be spent on accurate audiences whilst being available to any other audiences it might attract.

This is a more efficient, effective and affordable way to market your product or service.

Define your target audience

There are plenty of benefits of knowing your target audience.

It allows a more accurate approach to be implemented on campaigns.

A business product ideally needs to be seen by the right buyer.

This might be a niche or broad audience as long as it’s the right audience you will benefit from.

To do this you need to define your audience. Ways to do this is to understand the demographics, consumer behaviour alongside the general interests of your buyer.

The demographics state the obvious of the consumer eg age, gender, socioeconomic status, education, profession and income. 

As well as is your audience a Gen Z or X, could they be a boomer? Information such as this is what a business will need to create an appropriate TA. 

What is socioeconomics?

Socioeconomics is a social science that looks at the interaction between the social and economic habits of a group of people. 

Socioeconomics involves a status that segments consumers based on their purchasing power.

Equally, the socioeconomic status will help enable a business to suss out affordable pricing. 

Socioeconomic status graded through A, B, C1, C2, D and E. 

  • A- High managerial, administrative or professional
  • B- Intermediate managerial, administrative or professional
  • C1- Supervisory, clerical or junior managerial, administrative or professional
  • C2- Skilled manual workers
  • D- Semi and unskilled manual workers
  • E- State pensioners, casual or lowest grade workers, unemployed with state benefits only

Furthermore, socioeconomic relates to, profession and education.

For example, if an audience is AB socioeconomic, they might then have a degree and earn 50+ grand a year.

A business would then charge their product or service higher as their TA are in the situation to be able to afford this.

Next would be, consumer behaviour.

This is the act of closely monitoring your customers’ online behaviours. Watching more closely at purchasing behaviour, creating an understanding of which payment preference, what device do they typically use. 

A business then will use this information to adapt its website or apps to conform to the buyer.

To make it accessible and easy for them to locate what they need.

Lastly,

What is psychographic?

Psychographics is the study of consumers based on their activities, interests, and opinions. Goes beyond just looking at the demographics.

Psychographics look at what drives the consumer’s behaviour. 

These could be:

  • Personality
  • Interests
  • Values
  • Attitudes
  • Lifestyles

Keeping these aspects in mind a business can then look at a narrow view of a TA to market segment some more to create even more accurate marketing campaigns.

Analysing and evaluating techniques

A good way to generate a comprehensive understanding of your TA, the industry and the changing landscape of the consumer is to collect data and analyse. Then evaluate the resource collected.

There are plenty of ways to gather relevant information about your TA through techniques such as:

Focus groups

Focus groups are a good way to create a sample size of your TA. Gather a small group of people that are seemingly a part of your TA to allow insight into a deeper opinion on what your TA are. This deeper opinion can offer more informed decisions for future campaigns. 

However, this might be more suited to a larger organization if needed to regenerate a newer understanding of their TA. Nevertheless, if any sized organisation can afford with time and money to do this, it is a good idea too.

Polls

A quick and easy way to collect research is to create a poll.

A poll is an affordable technique that primarily focuses on a single question, allowing an accurate result to be received.

Since polls can be done online making it easily accessible to many evidently will mean more responses are earned.

For example, Facebook and Instagram allow you to set up a poll.

Questionnaires

A questionnaire can generate multiple responses that provide qualitative and quantitative insights about customers and even their behaviour. 

It is ideal to set out a questionnaire when either beginning to understand your TA or even after you’ve created a TA to help keep up with accuracy.

A questionnaire can be completed offline and online making it accessible to mainly all; reaching a large scale.

Forms

In addition to questionnaires and polls. A form is the same premise of asking your customers/audience questions to provide you with information.

A form however is more specific. Quite often related to demographics, a form generally focuses on questions such as gender, age etc. this is instead of gaining feedback or an opinion. It relates to more objective data that complies with understanding the demographics of the TA.

Mails surveys

Mail surveys are similar to other techniques. However, do focus more on reaching areas that are scarce to the internet.

Mail surveys reach a large audience and are considered to be a cost-effective technique.

Evidently providing information about TA.

Overall

Just by collecting and analysing contextual data collected through these efforts. You are then able to gain a holistic understanding of what is and what isn’t working.

Why understanding your target audience is important

Let’s say you don’t know your TA and are aimlessly directing your advertisements and product/service anywhere and to anyone.

You will soon find time and budget will be wasted on campaigns that won’t be bringing you the results your business ideally needs.

By having a set niche TA you are enabling content to contain a personalised aspect to your audience consequently providing the business with results such as more likes, shares and profit. 

To better understand why knowing your audience is important is by looking at how understanding your audience and comparing it to your competitors, can only guide you to better align marketing efforts to contribute to creating the right message.

Furthermore understanding your competitor’s audience is just another way of helping adhere to a better knowledge of your own. To do just that little bit more research you will help your business out in the long run!

How to now use this knowledge of your target audience to your advantage

These several factors mentioned above should now be applied to marketing strategies to optimize the effectiveness and efficiency of marketing campaigns and advertisements.

For instance, if a business is aware of the socioeconomic status of their TA is ABC1. 

They should start to work out marketing strategies that comply with a middle-market referencing to upper class stretching to the lower middle class.

For example, a bakery could market fancy treats such as macaroons and afternoon teas as this could appeal to an ABC1.

Having a detailed understanding of a target audience can allow a business to focus marketing efforts on an audience that most likely will benefit from. 

Consequently, a business is then generating leads in an affordable manner.

Remember to keep reassessing your audience to keep up with accurate results from marketing campaigns to implement a positive impact for your business.

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