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What is it about?
Suppose you were a teenager, and you want to buy clothes, but the shopkeeper is only selling you adult-sized clothes with dull color and checked patterns. You won’t buy that, right? At least at that age. You would want to buy some bright colors, small size graphic T-shirt or something that makes you look cool at your age. Why start this article with this weird example? That shopkeeper only selling adult-sized clothes to a teenager is “What is wrong with marketing nowadays.”
To give you a little context, according to a study, 83% of people agree that most ads aren’t relevant to them. What it means is that if you are spending a big budget on marketing to get more customers to your site, most of them have nothing to do with whatever you are selling. Hence, you are just wasting your ad budget by targeting every other person, or even if you are targeting one specific gender, it’s not enough! To get a good number of conversions or just the right impressions identifying your target audience is essential.
Explaining the mindset
Nothing we say can support our point any further, than these statistics, “51% of customers think that companies will anticipate their needs before they make any contact with them.” To maximize our returns on any marketing budget we need to target a specific group who are more likely to buy our product than targeting a teenager with adult clothes.
And here’s a little secret from our side for better audience targeting: “Make it as specific as you can”.
The more specific you go into defining your ideal customer, the more you will increase your ROI through marketing. Before we see how you can better define your target audience, we will discuss the two important roles that you can divide your target audience into. And, if you are looking for effective social media strategies , you should give this article a read.
Understanding Buyer and supporters
In every decision a customer makes, it is either his/her decision or whether he/she is buying it for someone else. Consider the example of children. So, if you are a company selling toys, you must make sure that children find your toys interesting, instead of targeting the actual buyers, i.e., their parents.
Hence, you should analyze whom you are exactly selling to and who is buying.
Factors to consider while defining your target audience:
· Analyze your competition
It is important to look at what your competitors are doing. Because as much as we should learn from our mistakes, it’s simply more efficient to learn from others’ mistakes.
In this way, we can know what is working well for the market, what trends are people following these days (As they are meant to always change), and most importantly, what segment of customers are buying that product.
· Look for feedback from the current audience.
To get a good look at where you and your product stand, analyze and group your current customer set into as specific as you can be. Group them based on their demographics and buying patterns. The easiest way to do that is to get feedback from them and find out what do they expect from you and your product. Once, you have a good idea of what they want and what segment of customers they lie in, you can focus your effort on targeting that niche.
· Retrospect your goals and product.
If people don’t like what you are selling, no marketing gimmick can help you raise your numbers. What you can do here is do some soul-searching for your products. Sometimes, it so happens that people target a different specific niche of people, but that product is more inclined to a different group of people like our (adult-sized clothing shop example). If you know what is working well for your segment of customers, you can either define better strategies to expand on the current customer range or change your strategies entirely to the customer range you are targeting.
· Experiment
This might look like a vague strategy, but here’s the thing, unless you experiment with your target demographics, or what they might like, you won’t be able to completely utilize your customer base. So, experiment in moderation, you will fail, but you will reach new conclusions and sometimes they just might work.
If you like our strategies and explanation, do share this article, and let us know whether these work for you or not?
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