In order to effectively market your business, you need to clearly identify your ideal customers…this is known as your target audience, but how do you identify your target audience in your marketing plan?
Firstly, you may be asking yourself - why do I need a ‘target audience’?
You might think that you’d be better off marketing your business and its products and services to as many people as possible…why narrow your opportunity? Well, the fact is that unless you have a budget to match Jeff Bezos (Exec Chairman of Amazon in case you’ve been living under a rock) you are going to have to focus your efforts to make the most of your money.
How you identify your target audience will vary depending on whether you already have a business up and running or you are starting from scratch.
Up and Running
You can look at your existing client data (you have that right?) to identify who your target audience should be. This could be who buys your highest value products or services, or who buys from you most regularly. It is also worth considering what kind of people recommend or refer you (this is more of a strategic audience). Finally, and this is especially important if you are a solopreneur, have a real think about who you like working with – after all your work might as well be enjoyable if you’ve given up a Company Pension and Holiday Pay!
Starting from Scratch
This is a bit trickier…. however it is likely that you will be setting up a business in a sector that you are familiar with, so you can often use your employed experience to answer the same questions. Who buys most, who buys most often. Certainly, you should consider who you would like to work with and what kind of connections you already have when you set up your business and decide on your offerings.
Join the NoLimits Business Community
Are you a business owner looking to take your business to the next level? Join our innovative community of like-minded professionals and gain access to a wealth of valuable resources, including a community portal to chat with other business owners, ebooks, business development software, and growth events that will transform the way you do business. Best of all, these resources are completely free and will be available to you forever.
But the benefits of joining our NoLimits business community don’t stop there. By becoming part of our community, you’ll have the opportunity to connect with other business owners, share insights and ideas, and build valuable relationships that will help your business thrive. Don’t miss out on this amazing opportunity to supercharge your business and join us today!
What information do you need?
Start with the basics…if you are selling to Consumers (people rather than businesses) then you will need
• Sex
• Age Range
• Geographic Location
• Economic Bracket
If you are selling to Businesses, you could include these demographics of the decision makers, but you will also need to know
• Size of Company
• Structure or Legal Entity
• Sector
• Turnover
These are just the basics…you also need to know more intrinsic things such as;
– What do they Like
– What don’t they Like
– What do they fear
– What is their problem
– Where do they hang out (physically and digitally)
You may be able to find this information from social media, or website statistics, but the best way to find out is to ask them…send out a survey, give them a call…the method will vary depending on your prospects.
In essence create an ‘Avatar’ or ‘Avatars’ of your Target Audience Persona.
Keep a full record of your Target Audience Persona and reassess it regularly. If your ‘Avatar’ starts to get too vague, you may need more than one and of course you will need a different strategy and budget to reach ALL your Target Audiences.
I hope this helps you on the journey to identifying your target audience and that this identification gives you a clearer direction for your marketing and better results.
As members of the No Limits Community you could have access to regular Webinars with marketing experts – all for free, so if this is an issue for me why not sign up and check them out!
By Duncan
Join the NoLimits Business Community
Are you a business owner looking to take your business to the next level? Join our innovative community of like-minded professionals and gain access to a wealth of valuable resources, including a community portal to chat with other business owners, ebooks, business development software, and growth events that will transform the way you do business. Best of all, these resources are completely free and will be available to you forever.
But the benefits of joining our NoLimits business community don’t stop there. By becoming part of our community, you’ll have the opportunity to connect with other business owners, share insights and ideas, and build valuable relationships that will help your business thrive. Don’t miss out on this amazing opportunity to supercharge your business and join us today!