Ankita Jagtap Digital Marketing Consultant
SEO & SMO strategist. An avid content writer and an emerging Blogger. Overall, a passionate Digital Marketing Consultant.
Aug 23 2017
Content marketing is one of the most influential ways to build a brand. Designing unique and useful content may be the key to unlock ways to success but having a niche audience that completely resonates with your content is like fuel that will help you keep going in the long run.
In branding, authenticity comes before everything but it’s worthless without a bunch of your own “people”. When it comes to online marketing, people often turn a blind eye towards the importance of targeting the right audience. They often fall prey to generalizing their audience and forget categorizing the audience specifically.
The goals defined in online marketing articulate the urge to reach a large audience. Reaching a large audience is equally important to reaching a small bunch of your potential buyers. Successful marketing campaign is about reaching the people who will take actions to buy, use and promote your products or services. And the wisest thing to do is reap utmost benefits from your budget constraints by targeting your potential buyers rather than a huge crowd of people on the internet.
Defining a target market involves figuring out whom you expect to be your most likely customers -- in other words, your target customers and then tailoring your marketing efforts, as well as your products and services, to those customers.
Focusing on a portion of the people who might actually buy your products/services will allow you to communicate and engage with that segment more deeply.
Here’s how to get started:
1. Business Analysis- Perform a thorough business and competitor analysis and answer the following questions-
What problems do your product/services solve for your potential customers?
In what way are you different than your competitors?
What makes you stand out (or what is your USP)?
What do you need to know about your potential customers in order to reach them? And why?
The answer to all these questions will definitely get you some insights on your target market.
2. Research- Start with secondary research. There are a lot of existing sources that can help you pull together information about your industry, the market, your competition, and the broad potential customer you have already identified.
3. Customer profile- After performing research you will need to create the customer profile. Use these criteria to draw a profile of your potential customers -- those who have a real need or desire for your products or services.
Demographics- they are the “external” features and may include the following factors:
Marital or family status
Psychographic- Psychographics are the more personal characteristics of a person, including:
Determine how your product or service will fit into your target's lifestyle. How and when will your target use the product?
Both types of information are essential for developing your customer profile.
4. Evaluate and get feedback- Evolving, should be an integral part of this process. Identifying is not the end of it. You should constantly be updated with the industry and market trends and may even have to change your target market or strategies accordingly.
Search for blogs and forums where people in your target market communicate their opinions. Look for survey results, or consider conducting a survey of your own. Ask your current customers for feedback.
Smart marketers/researchers constantly monitor market conditions and make adjustments to their businesses in order to stay profitable.
Save your money and get a better return on investment by defining your target audience!