Your target market is essential to your business. Knowing who you are providing your services for can help improve your business as a whole. After all, your clientele is the main goal of your mission. And identifying their wants, needs, and preferences can help you tailor your business to them.
As a business owner, showing interest and care for your target market will help put them at ease. With this kind of sentiment, they can put their trust and loyalty to your brand. Once they identify that you can give them what they need, it is guaranteed that you can create a stronger relationship with your clients. And who doesn’t want a fruitful partnership with their customers?
So, if you are a small business that’s struggling to connect with its target market, you are at the right place. In this article, we will share with you some of the advantages of getting to know your target market. With these, you can improve your online marketing activities and hopefully attract the demographic you want. Let’s start!
Why Is Target Market Identification So Important?
According to Chron, “A target market is a set of individuals sharing similar needs or characteristics that your company hopes to serve. These individuals are usually the end users most likely to purchase your product.” With that said, determining the preferences of the target market will help you focus your marketing efforts in the most cost-effective means possible. Not only will this help you save money, but time as well.
We will not beat around the bush, but beginning this journey can be laborious at first. Well-spent research is a must in order to truly identify the online activities of your desired demographic. This task can distinguish the websites, products, and services that most of your target market visits. Learning where they mostly spend their time is necessary as well. So have your team browse around social media like Instagram, Facebook, Twitter, and Pinterest, to name a few.
Remember, not everyone can be your target market. Thus, be careful in marketing your business online. Appearing on everyone’s feeds might have a negative impact on your brand. Let us help you avoid the possible backlash that you might face because of this.
How to Identify Your Target Market
There are steps to identifying your target market. Just like any other process, this takes necessary precautions in order to yield results. Here are some simple ways to do so:
- Begin with your current customers.
Look for common factors, characteristics, and interests that allowed them to stay loyal to your business.
- Identify your competition.
Never go to the same target market as your competitor. You will both be vying for the attention and time of your clients, so make sure to stand out. Why not focus on the niche market that they might have overlooked?
- Analyze your services and/or products.
Will they attract new clients? Make sure to showcase the benefits and features of what you can offer. Asking the help of professional graphic designers can help you with this. Make sure to design your services according to the preferences of your target.
- Specify or pinpoint the exact demographic you wish to target.
Hitting the target is essential to this objective. Find out who needs your services, and who is most willing to purchase or avail them.
- Know their psychographics as well.
Determine how your products and services can affect your target market’s daily activities. Find out how they can utilize your business to their lifestyle.
- Decide on your action. According to Inc.com, here are the questions you need to ask yourself:
- Are there enough people who fit my criteria?
- Will my target really benefit from my product/service? Will they see a need for it?
- Do I understand what drives my target to make decisions?
- Can they afford my product/service?
- Can I reach them with my message? Are they easily accessible?
The first step to grasping your target audience is by starting with the general public. As you go and determine the specific preferences of each, you can then narrow down your choices. Basically, it allows you to start at a broad slate, which will then shrink into granular sizes further. By doing so, you can pinpoint your efforts to this specific area and achieve the clientele you want to serve.
Refining Your Target: Importance of Market Segmentation
In order to create a solid foundation for your business, you need to first identify your typical customer and modify your marketing pitch accordingly. Once you have refined your regular customer base, the need to segregate your target clients is key. According to WordStream, there are four areas that help with market segmentation. These are:
This defines the area that your target market is living in. Geographic can either be:
- Cities/towns of a specific population density
- Areas with specific population thresholds
- Localized areas (neighborhoods, specific retail outlets)
These are the characteristics that you are looking for in your desired clientele:
- Family size
- Household income
- Level of education
Psychographic segmentation can focus on:
- Personal values
- Social class
- AIOs (Activities, Interests, Opinions)
Behavioral segmentation includes factors such as:
- Benefits sought
- Buyer readiness
- Degree of loyalty to a brand/product
- User status
What Are the Benefits of Target Marketing?
Effective research about your target market will allow your business to find out the needs and wants of your customers. This allows you to modify or customize your product or service according to these needs, leading to greater customer satisfaction and better relationships with them.
Here are some of the proven benefits that you can enjoy:
- Tailoring or customizing your products and/or services to the preferences of your clients will help increase or initiate sales.
- Selling your products in the most appropriate places can help you reach the chosen target audiences.
- Pricing will be set to reflect what a target market will be willing to pay for a product or service to maximize profits.
- Tailoring of marketing and promotion techniques to entice a company’s target market will prevent money from being wasted on ineffective marketing.
Selecting a target market for your business is necessary. Not only does it reach your chosen demographic in specific ways, but it also eradicates the cost factor involved in targeting too many people that have no interest at all. Thus, it is important to remember that the “catering to all” strategy will never work. Your customers want to feel good, knowing that your services or products were specifically created just for them.
Having a specified target will assist in eliminating the people that don’t really care what you do, and will not place value on what you offer. Note that your clients and customers need to be based on people that also believe in your mission and/or objective and become regulars of your business moving on.
Not only that, but specified target marketing will give you the most effective marketing. “Half of your initial marketing dollars will be a waste of time; the problem is finding out which half that is.” Once you get to know your clientele, the easier it is to entice the attention of the market that you are looking for.
Conduct Your Research: Just Once Is Not Enough!
Numerous blogs online are providing information to help businesses engage with their target audience. Thus, knowing who your desired audiences are and how you can affect their daily life with your products and/or services will be needed to create a successful marketing campaign.
By creating your buyer persona through the aforementioned marketing segmentation technique, you can proceed to use relevant and timely data. You can achieve this easily with the use of comprehensive primary and secondary research on your desired demographic.
Here are ways you can do it:
- Online surveys that are simple, short, and informative
- Interviewing or asking your customers, either online or offline, about their experiences and thought about your brand
- Investing in SMM or social media marketing services or tools
- Listening to your clientele’s discussions about certain services that are similar to yours
- Utilizing tools such as Google Trends to manage and monitor your data
- Checking out case studies regarding the topics relevant to you
Once all the research and market segmentation has been done, it is time to truly advertise to your clients. Implementing marketing strategies will help you in creating and achieving your ideal buyer persona.
Created Targeted Content
Keyword: relevance. Being relevant to your client’s social media feed is key to everything. Make sure it can cater to the questions and concerns that they have regarding services related to yours. Answer their queries, help solve their problems, and offer actual and helpful tips.
Make Yourself Recognizable
Depending on the age group, race, or any other quality that you are seeking in your ideal audience, you need to create an online presence that is familiar to them. It is good to make your target market feel that they are considered valuable. When making these decisions, ensure that you have your business’ personality in mind. After all, it is not the same when it comes to talking with Baby Boomers and Gen Zs.
Hashtags for Your Consideration
Aside from utilizing target Facebook posts, hashtags are also a surefire way to get your clientele’s attention. Hashtags can help optimize your brand on different social media online. The best places to use these are on Instagram, Twitter, Facebook, and Pinterest.
What’s the Buzz?
Creating new and fresh content will help you generate buzz for your small business. Enlisting the help of influencers and other social media creators can help you achieve this. Not only does this form partnerships within personalities, but it will help appeal your services to your target audience. Opportunities will be endless.
Sending out personalized emails to your customers will help them form a certain loyalty to your brand. Tell them that you remember them buying from you. Another tip we can share is by offering related products or services to the previous clients who purchased from your business.
Website Optimization Is Key for Effective Target Marketing
A website is fundamental to any type of business, especially in this day and age where technology is playing an important part in sales. Enlisting the services of a trusted website developer, such as Proweaver, can help you optimize your website. Make sure to improve navigation by simplifying your content, design, and labels. Remember: simplicity is beauty, and adding too many flowery words and extra knick-knacks on your website will only slow it down. Plus, a professional-looking website will always grant a good first impression.
Dynamic calls-to-action and a predictive search box can help generate a user-friendly experience for your clients. Use internal linking as well to guide your customers throughout your website’s pages and content.
Hit the Target Through Careful Planning
When it comes to boosting your brand, make sure to create a name for yourself among the sea of competitors and establish your ground in the niche you’re in. This will help you build strong relationships with your desired market.
Target marketing is more than just knowing your customers by name. It helps you personalize their experience with you and assist in the formation of a loyal relationship with them. With target marketing, you can collect data effectively and give them exactly what they want from your small business.
Manage their expectations. According to Small Business BC, “If you know what your clients want and you know what your product or service delivers, you can clearly explain to customers what the result will be. You can effectively manage their expectations, which will have a two-fold effect on your business.”
So, Take Action and Partner with the Experts
Now, we covered the importance of identifying your target market and how it can benefit your online activities. Overall, it taught us to carefully plan our desired actions to achieve the results we wish to yield for our business. Another key factor is that keeping your customers in mind will definitely help your business in the long run. Not just in making a name for yourself online and offline, but by also improving your products, services, and other processes.
An optimized website is also key. A professional website under your wing can definitely do wonders in establishing a good first impression to your clients. It also solidifies your reputation as a trusted business. With the help of expert web developers and designers, you can maintain a website that is user-friendly and high-ranking in search engine optimization.
To end this article, a good business employs a better marketing strategy. And what better way to acquire this than by investing in social marketing services? Proweaver has social media management and copywriting services that will help you obtain your online marketing goals. Along with graphic design services, you can now create and share target marketing strategies that will surely catch the attention of your desired clientele.
Boost your small business with us! Avail of Proweaver’s digital marketing services today and enjoy great benefits for the future. Call our friendly representatives anytime at +1 (800) 988-3769!