Your target audience is the group of people for which your product or service is designed. These people will be the most likely to share your message and turn into conversions. While you could try your luck by opting for methods that reach a large and varied audience, going into a campaign with an audience in mind will likely lead to a higher return on investment.
So, how do you determine what audience is right for your business? There are a variety of factors to consider while deciding who to target:
Demographics
The most basic thing to consider for your audience members are demographics, or statistical data which focus on their external situation. Some of the most common demographic categories are age, gender, geographic location, education level, income, and race/ ethnicity.
Why are these things important? Well, an 18-year-old female in Minnesota will likely be interested in different products and services than a 52-year-old man in Florida. Certain regions may have legal restrictions about business, and different age groups will respond to different marketing methods. Certain goods or services may be limited to a certain age group or climate. Understanding the basics about your desired customer will help you decide which vehicles to employ, where, and when.
Psychographics
If demographics focus on external factors, then psychographics look to the internal—the beliefs, values, interests, attitudes, and personalities of potential customers. Psychographics are important because they offer more detailed insights. Two people can have the exact same demographics but be vastly different people, and psychographics can help you determine which of the two will be a better prospect for your business. Some marketing campaign types have the capability to segment by psychographics, helping you get incredibly granular in your message deployment.
Putting Together the Pieces
The easiest way to identify your target audience is to find the commonalities among current customers. Do you notice that most of your clients are young adults, or you are mostly reaching men? Maybe your product is designed for a certain type of lifestyle, like a mountain bike or a gaming computer. Listing out this key information based on your current customer base will give you valuable insight into who you should aim for with future marketing. Is there a group you would like to engage, but haven’t yet? You should include that group as well when identifying your ideal customer base.
Conclusion
When we begin developing a client campaign, one of the first questions we ask is who the target audience may be. The audience then informs each choice in the strategy process. These include vehicle, message, design, and even length of the campaign. Not sure who your target audience should be? The team at Media Venue will work with you to determine where you should focus your efforts. Call us today at 502-855-4783 or email weaks@mediavenue.com
