Who or what is your target market? Can you answer this question? In fact, have you ever asked yourself this question? If not, now is a good time to define your target market.
Once you understand your target market and get to know it better, you can more effectively market to them. If you haven’t defined your target market and learned about them, marketing is like shooting an arrow in the dark.
In this article, we’re going to talk about five things you can do to understand your target market better.
#1: How to Find Your Target Market
To find your target market, you must first ask yourself a few questions:
- What product or service are you selling, and what’s makes it unique or valuable? Who do you usually sell it to? For example, if your store sells baby clothes and baby furniture, the most obvious target market is parents. Yet, grandparents may be part of your target market as well.
- Why should customers purchase from you and not someone else.
- What value do you offer to potential customers?
Once you’ve defined your target market, it’s time to take a look at their interests and learn more about them.
#2: Define Your Target Demographics
Now it’s time for some market research. For example, still using the baby store scenario, does your business cater to a price-conscious clientele or a customer base that isn’t worried about prices?
These are some of the things you want to learn about when conducting your research as you might market differently to each group.
No business can be all things to all people which is why understanding your target demographics is so important.
Take a look at your target market’s age, gender, income level, occupation, education and their family make-up (married with or without children, single or retired). Use Google to search for census data for your target market.
#3: Learn Their Likes and Dislikes
Next, you’ll want to look at what pushes your target market’s buttons. You want to know what they like and dislike.
For example, if you sell baby gear, you want to know how “portable” your market is. Do they walk everywhere they go? Do they take cars, the subway system or use taxis? Knowing this information about your target can help you decide what type of strollers to sell.
Learning about their likes and dislikes can help you understand if they spend time inside or out, play sports, like the arts and music, or partake in sporting events.
#4: Find Out Where They Hang Out
Knowing where your target hangs out can help you “meet them where they are.” If your target audience spends their weekend watching hockey games, you might want to reach out to them with some advertising at the local arena.
If your target market spends time at the local “Mommy and Me” classes, that might be a profitable advertising arena for you.
#5: Learn What Social Media They Use
Not every business needs to use every social media platform. While Facebook works for some, LinkedIn or Twitter might work for others. The key is learning which social media your target market uses.
If you’re already using social media, you can take a look at your own demographics to learn more about your target market. If you’re not, here are some basic guidelines for finding your target market on social media using a Pew Research Study:
- 71% of online adults use Facebook. Usage is large across all age groups and growing for 65+.
- 23% of online adults use Twitter. It’s particularly popular for educated people under 50.
- 26% of online adults use Instagram. It’s popular for women in the 18-29 age set.
- 28% of online adults use LinkedIn, and it’s popular for educated, employed people.
- 28% of online adults us Pinterest, and it’s big for women with 42% of online women using it.
Using demographics like these can help you decide where your target market is when it comes to social media.
Now that you know five things you can do to understand your target market, you can design a marketing strategy. You can plan your marketing around your target’s needs and interests.
When you market to a defined group of people, you eliminate the blanket marketing message that loses half the audience because they aren’t interested in your product or services.
Define your target so it’s easier to find them and reach out with a relevant marketing message. This helps you achieve the results you want and increase your profitability.
Social media is a great place to discover and reach your target market. When we post for you, we listen to your customer’s conversations and post content that’s valuable to your target audience. We’ll help you grow your following and increase your online presence within your target market.
We take social media posting very seriously as a way to create loyal followers, increase engagement and provide a valuable return on investment. Learn more about our services and how we can create engaging content that your customers will enjoy and appreciate.