First things first.
When you are trying to figure out your target audience you first need to identify your product or service. Then you must think: “Okay, who uses my product or service? Who NEEDS my product or service? And who refers my product or services to others?”
After you answer the questions above, you will want to identify your target market. Once you have figured out your target market you will be able to find your target audience, which is a specific segment of the target market. The reason for finding your target market first is because this information can be quite broad, but it can be extremely beneficial with identifying your target audience. Bet you’ve never heard the word target so many times in your life!
Remarking or behavioural retargeting in digital advertising, online ads that will follow target audience across all using devices, businessman from mobile app aiming target and other computer laptop.
So, how do you segment your target market? Well, you can look at demographic, geographic, physiographic and usage behaviour:
- Demographic Segmentation uses statistics such as age, gender, income, ethnicity and education.
- Physiographic segmentation looks into consumer activities, values, interests and opinions.
- Geographic segmentation reads data according to where consumers are located, using geographic location.
- Usage segmentation is based on how often a consumer uses (usage rate) or how a consumer uses a product (usage situation). How? When? How often? Why?
While doing this, remember to follow these steps to create a meaningful market segment:
- Choose meaningful characteristics
- Choose the number of characteristics to include
- Determine if the segment is a desirable market segment
Target markets should be identifiable, sizeable, stable, accessible and congruent. Once you are able to identify your target market, then you will be able to build your Target Audience aka buyer persona.
Depending on how in-depth you are wanting to research, you will be able to differentiate between a target audience and a buyer persona! Both look at the same things, but a buyer persona takes a bit more of an in-depth look into the personal lives of your consumers.
Either way, both will have you doing a LOT of research. This time and effort for this is worth it to help further your reach, and have a greater ROI! Remember to not use personal bias but do real research; you can gather real information through surveys or interviews, take a look at competitor brands, etc. It can also help if you define who your target audience isn’t – this can give clarity into what direction you want to put your marketing efforts into, where to invest your time and money, and how to hone your advertising campaigns.
Using all this information should put you in a great spot for identifying your target audience, and if it doesn’t, contact us today! We are here to help and guide you through this process, and help you grow your business!