How to identify the target audience for your product
Identifying the target audience, you make a power move to your business prosperity. Before starting an advertising campaign, you should clearly imagine who these people are. Lots of businessmen make a mistake considering their product to be desirable to all. By and large, this is not true.
To make your product sell, you should narrow the buyers’ circle down. That is why you have to identify the target audience. If this group is too large, divide it into sections. Focus on it to make them purchase the merchandise.
Why is this important? When you know the target group, you don’t have to seek for it. Therefore, you have no need in wasting money on an advertising campaign.
What is the ‘target audience’?
This is the group of people who are ready to buy your product. Each audience possesses a core which consists of the most active ones. Customers who buy this commodity more often than others belong to the nuclear.
There are two types of target audience:
- This is a priority one in brand communication. They decide whether there is a need to buy a product or service. The main audience is the initiator of the purchase.
- This group plays a passive role. The secondary product audience is in less priority for brand communication. It doesn’t initiate the purchase but may play a part in its sale points.
How to identify target audience?
The principal and most complicated task for business is a definition of the target group. The marketing strategy depends on this step. If you desire not only to provide competitor analysis in marketing but to find out the target weakness of the group, this is for you.
There are two ways of identifying the target audience. You can start from the merchandise that you sell or from the market.
Identifying target group from the product:
- Analyze the merchandise. You should critically evaluate it. Figure out its advantages and weaknesses. These are price, packaging, place on the market, etc.
- Check the customers’ group. To understand who buys your product you should become acquainted with them. Conduct a survey. Ask clients what they appreciate about it. This is also a power move to figure out its disadvantages. On the basis of a survey, add needed features to the product.
- Write a SWOT analysis of the merchandise. This step will also help you to identify the pros and cons of the product. You can highlight the ones that you unable to change with the sources you possess. This document is salvation in identifying target group.
- Conduct market segmentation following the key properties by which consumers share products on the market. If you cannot handle it by yourself, consult with professional. He will be able to ensure unbiased and effective
- Make a plan of working with a target audience. You should prepare a detailed plan of marketing activities to attract and retain customers. It should be related to the product’s improvement and expansion of the range. You need to include a promotion plan and pricing strategy.
Identifying the target audience from the market:
If you plan to launch a new commodity to invade the market you have to possess a strategy. You have no need to analyze the customers’ opinion. You are not burdened by the image that has developed about it.
- Analyze and divide the market into segments.
- Identify the most attractive and profitable ones.
- Describe the most active group of customers.
- Make a plan that will ensure the product’s presence on the market.
If you believe that you can never do this on your own, consult with colleagues. They are able to consult you or attract a professional that can do it.
Draw a customer’s portrait
After a detailed analysis of the market and product, it is necessary to describe target audience.
This portrait includes the principal features of the customer:
- There you indicate the place of a purchase or buyer’s residence. You may characterize the whole region to make situation be clear. Analyze the location, dynamics of development, climate, etc.
- Demographics. Describe the sex, age, nationality, profession and education of the potential client. You have to gather all possible information.
- Identify the level of employment, incomes and purchasing ability.
- Analyze the stereotypes, habits, desires, temperament and values. This will help you to make a commodity be more attractive to customers. They will be glad to buy the exact thing they want.
- The frequency of product’s purchase, experience of use and level of loyalty to the brand will come in handy. It is easier to draw a portrait of a customer when you are familiar with his behavior.
- Awareness of the product. Make an effort to help it become recognizable. Set the billboards with its picture and create an adorable site. Customers are visual. They need an attractive picture to be satisfied.
Why do you need this?
The majority of businessmen make a great mistake when refuse to indicate target audience. They believe that the product they sell will be desirable to all. However, they never become rich. Their business falls apart. If you don’t want the same fate, you should do everything to prevent it.
For instance, you can analyze the target group of your competitor. Stealing is not something that you should do. However, poaching of the audience ensures the stability of your business. If you cannot establish a new one, there are methods that can help you attract and retain the old. Therefore, you don’t even need to steal. This analysis will help you to understand what makes his product great. As an example, the target group of PapersOwl is a community of students who need to have their essay done.
Let professionals give you a helping hand. If you want to build a stable concern, you cannot ignore this step. In an era of Informational technologies, there are lots of ways to promote your product. The brand’s visibility is a guarantee of success. Professionals can offer you a wide variety of ways to increase it. For example, it is an advertising campaign.
Without identifying a target group your business will not survive. You have no chances to stay afloat without this knowledge. With or without professionals’ help you should ensure its existence.