5 Simple Steps by Sagar Gulati to Find Your Target Audience
In order to take any business from rags to riches, the most crucial factor lies with the audience. The audience or the customer base has the power to transform any business into either a success or a failed attempt. Therefore, identifying a target audience remains one of the most essential steps to ensure that your business performs well in the market.
If your target audience does not find your product or service appealing, then it may pose a huge problem for your marketing team. Since the goal of marketing is to reach the right audience at the right time and at the right price, identifying your target audience becomes a necessity for your business.
A target audience is basically a group of people who are willing to buy your product or service. The group may differ as per age, income, location, etc. It takes a lot of efforts to make a business profitable and identifying your target audience will make this task a bit easier for you.
Sagar Gulati, a successful digital marketer and entrepreneur, shares through this article 5 simple steps to find Target Audience.
- Understand your own product or service- Before trying to identify your target audience, the first step that you need to follow is to understand fully the aim, complexities and advantages of your own product or service so that you know exactly what you are offering to your target customers.
It is important for you to analyze the reason why your audience should firstly even be interested in your product or service. Your strong core or foundation about your business will give you the ability to be confident and showcase your best efforts to your customers.
Then the next step will be to identify who needs or is going to benefit the most from your products. Once you identify what makes your product or service unique, you will be able to identify your target audience easily.
- Conduct proper market research- Primary market research is one of the best ways to start identifying a target audience. This kind of research includes directly contacting your customers through surveys, feedback forms or interviews to know about their preferences and shopping practices. You can contact current as well as potential customers either directly or via other online techniques.
Social media is another highly recommended platform where you can conduct your research via tailored polls or surveys. Interaction is the key in this step since building good relations with your customers will ensure honest feedback which you can use to identify your audience.
- Keep a close watch on your competitors- In any business market, it is essential that you keep a close watch on the target audience, product details, etc. of your competitors. Observe their website, marketing techniques, social media, demographic, etc. This will undoubtedly give you a fair idea about whom to target and other details such as how much to place the costing at, the current market situation and other such important details.
Such knowledge about your market competitors and their respective marketing habits and responses by customers will help you recognize your own strengths and weaknesses and thereafter, you can devise plans to attract your target audience accordingly. You can also work out ways how you can point out the weaknesses of your competitors and improvise them in your business and stand out as a company for your target audience.
- Analyze your current customers- Having full information about the customers who have previously bought or are currently buying from you is another advantage that you can utilize to understand your target audience. Information such as the age group, location, average income, etc. of your customers are some of the basic facts that you should know about your consumers.
It is also important that you know how you are connecting to maximum number of customers, directly or via online methods. Such analysis of current customers will help you devise plans and direct your efforts towards the right people and you will also be able to decide whether the price at which you are offering your products or services to the customers is viable or not.
- Make an audience profile- Making a customer profile is quite advantageous especially if you want to identify your target audience. Customer profiles contain details about customers such as their age, gender, income, education levels, lifestyle, etc. Such details can be referred to as geographic, demographic and psychographic behaviour.
You can segregate all such customers as per the relevant information about them and divide them into smaller groups. This will assist you in identifying potential customers much more easily. The behavioural patterns of your customers can also be analysed and thereby, you can direct your marketing efforts accordingly.
Building a successful business requires a lot of hard work and patience. However, simply maintain good relations with your customers makes this job much easier than it may appear. If you follow these simple steps, you can find your target audience and ultimately concentrate on providing them the best services possible by your company.