Marketing is all about connecting with people – you must listen to what they want or what problems they face that need solving, and be the business to provide the solution they’ve been pining for. Before you can swoop in and save the day, your business must first know who your target audience is, what they are saying, and how to reach them with your solution.
Target Audience – the demographic of people most likely to want your product or service. Essentially, these are the people with a problem that your product or service can help them with. When you think about it, we’ve all been doing this for ages. Back in your young days, did you ever ask your dad for permission to do something because you knew that your mom would say no? Classic case of targeting your message to the right audience for the best result.
The scope of target audiences varies greatly from wide to narrow. For example, let’s say you own a specialty dog boutique with high-end supplies for the die-hard pooch enthusiast. Your audience is going to be narrower than that of a general pet supplies store that is geared towards a wider audience of pet owners, from cats and dogs to parakeets and gerbils.
Or perhaps you own a car dealership that specializes in expensive luxury sports cars. This product will need to target a sliver of the consumer population that can afford that price tag, such as business men in their 40s or 50s that make over $250,000 a year, vs. your local pre-owned car dealership.
Regardless of what your company does or produces, every business needs a target audience and a strategy for how to reach them.
Why are target audiences vital to the success of your business? To market or advertise your business, you first need to know who you want to reach and where to find them.
If you’re thinking to yourself “Why would I limit my audience to a small group of people instead of sharing what my business has to offer with the entire world?” you are not alone. While on the surface that may sound like the more logical explanation – to include everyone – when you have a defined marketing budget that isn’t labeled “sky’s the limit” (psst…none of them are) you need to work smarter, not harder, to reach people.
By defining your target audience and marketing to the people you already know would potentially be interested in buying (or at least learning more about) your product or service, you are able to:
- Craft your message to speak to them directly
- Make a relevant connection between a potential consumer and your brand
- Focus budget dollars on mediums you know are more likely to reach your audience
You know what a target audience is, and understand the importance of defining it for your business. What now? Go out and get it! Thorough market research is key here, whether that means hitting the pavement to do your own legwork or gathering data from research companies or resources.
Ideas for market research include:
- Experiments or trials
- Focus groups
- Product pricing
- Social media insights
- Website analytics
The goal here is to get to know your potential consumers, what problems they experience, what they do about them now, and how your product or service can make their life easier. Learn the ins and outs of where they get their information and outline game plans for how to best reach them.
Is your product an online project management program for small businesses? Chances are your audience is more likely to be reached through digital marketing – website, blogs, online ads, email marketing, etc. – vs. more traditional methods that may be more fitting for targeting a specific area with offers for your local supermarket – print ads, direct mail, TV commercials.
Need a helping hand to define your target audience and develop a marketing plan for how to best reach them? That’s what we’re here for. Our team at Stray Media Group would be happy to meet with you to determine where your business is and what we can do to help you grow. Learn more about our work and how we can take your marketing to new heights by contacting us today!