Over 70% of marketing strategies miss out on optimizing ads with customer behavioral data
53% of content marketing uses interactive content to generate leads
27% of marketing professionals find budgeting costs to be the most challenging
What do job interviews, investor pitches, and digital marketing strategies have in common?
It’s not hard to spot.
If you want to gain someone’s investment—whether that means their time or their money (or both)—you have to “sell” yourself. When it comes to marketing your business online, this means being persuasive, creative, and most of all, unique in presenting your brand to the digital world.
But before you start setting up slideshows and pulling out the spreadsheets, you need to know your audience. Specifically, your target audience.
What is a Target Audience?
A target audience is who you’re trying to reach with your business’s products and services: potential and existing customers. The way small businesses can compete with larger businesses is by focusing their resources on a particular niche market, and with the highest potential for growth.
Why You Need to Define a Target Audience
You can’t market to everyone.
Who do you want to reach with your business?
Everyone, of course. But the problem is, “everyone” may not be interested in what you’re selling. For example:
A college bookstore isn’t pushing designer coffee table books about luxury living to the front of their shelves. The average college student can barely afford a Starbucks coffee along with their fraying rental textbooks, let alone a $60 tome about French artists and their dogs.
The point is, defining your target audience will help you craft persuasive and engaging digital content, geared toward a precise demographic of people that need what only you can provide.
You save money.
By being more focused in your marketing efforts, you can make smarter, more conservative investments with a greater return—not to mention a more effective and dynamic marketing strategy.
You build your own unique brand.
Finding a specific marketing base gives you a better foundation for your business. You’ll be able to cater directly to your customers and create your own distinctive voice and style to continue growing your brand. You can establish trust and true connection with your customers, allowing those relationships to grow right along with your business.
So, how exactly do you narrow down your own target audience?
Tips on Defining Your Target Audience
Assess Your Current Customer Base
The best way to begin defining your target audience is by assessing your current customer base. You can accomplish this by analyzing your customer demographics and psychographics.
Income Level & Spending Power
Interests & Hobbies
You may not need to qualify all of these, but even just a few from each category can help you get a picture of who you can start marketing to first, and what kind of niche market you can tap into further.
Know Your Audience
Knowing your audience takes demographics and psychographics to the next level. With the information you’ve just collected, you can better understand their pain points and why they may need your products. Also, you can predict any hang-ups your current, or future customers may have with engaging with your brand.
Also, begin to consider these questions:
Do you have more than one niche market?
How will your target market truly benefit from your products?
Will they understand or care about your brand message?
What drives them to make buying decisions?
Another key question is: How does your target audience engage with similar brands? (AKA: your competitors.) This brings us to yet another key point.
Study Your Competitors
Competitor analysis is still alive and well. In fact, it can be crucial when evaluating your own digital marketing strategy. Who are your competitors reaching with their marketing game?
What platforms are they using? Analyze the way they engage with their audience and what kinds of posts are earning the most engagements.
Are your competitors going after the same niche markets as you are? Strategize on how your business is different, even if your competitors’ target market is similar. If they are reaching other market bases you hadn’t considered before, think about how your business might more effectively tackle a related market.
Craft a Mission Statement
Your mission statement puts the spirit and tone of your brand vision into words. When you begin creating content to engage with your target audience, any and all of it should be framed around your mission statement. You can also look at it as a company philosophy.
To help you craft a mission statement, consider the value your product will bring to your customers:
Will it make their lives easier?
Improve their lives?
Your business will probably fit into at least one (or even two) of these categories. Then, you can consider the how and the why.
Don’t Be Afraid to Reevaluate
Going back to that point about assessing your customer base, be sure to identify any patterns and trends. After you start implementing your new marketing strategy, it’s important to revisit your old data and reevaluate if certain aspects haven’t improved like you hoped or have actually gotten worse.
Check and see if your demographics have changed, the quality and quantity of your social media engagements, and the sales data of specific products.
Need Help Finding Your Target Audience?
Finding your target audience isn’t easy. As you can see, it requires a lot of research, fine data points, accurate information, and often professional data analytics. At Digital Resource, our team specializes in creating hands-on digital marketing strategies tailored specifically for your business.
We can help grow your brand awareness online and help reach your target audience. Our services include responsive, custom web design, creative and engaging multimedia content optimized for SEO, paid advertising and expert analytics that gets results.
Want to learn more about how a full-service internet marketing company can help you grow your business? Contact us today for a free consultation!
Alexandra is a content specialist, graduated with a Bachelor's degree in English from Palm Beach Atlantic University. She has a passion for literature and writing, and has extensive experience in content writing for digital marketing.
COVID-19 earns around 20 million social media mentions a day Global social media usage has grown by nearly 50% since the Ebola epidemic in 2014 Brand awareness ads are a cost-effective way to keep companies front of mind There no other way to say it – it is a scary time to be a marketer […]
87% of businesses have been using video as a marketing tool since 2019. 42% of customers prefer live chat than email (23%) or social media (16%) as a customer service tool. 87% of people prefer watching content online over TV if it means getting behind-the-scenes content. It’s definitely a trying time for all of us. The current […]
65% of digital marketers plan to raise their influencer marketing budgets in 2020. 89% of digital marketers think return on investment (ROI) from influencer marketing is comparable or better than other strategies. Now in 2020, Instagram ranks #1 for the most influencing social media platform, and it is the most used platform for influencer marketing. […]
WEST PALM BEACH, March 18, 2020 – Inc. Magazine announced that Digital Resource is no. 30 out of 250 on the first-ever Inc. 5000 Series: Florida ranking of the state’s fastest-growing private companies. With a 395 percent two-year growth rate between 2016 and 2018, the company is honored to be recognized on such a prestigious […]
81% of digital marketing professionals say interactive content is more effective than static content in grabbing attention. Interactive content generates twice as many conversions as static content. 88% of digital marketing professionals say interactive content helps them stand out against competitors. The way technology keeps evolving, more and more innovations are being made that make […]
Only 17% take advantage of landing page A/B tests to drive conversion rates. Nearly half of digital marketing experts say they test different subject lines to strengthen their email marketing. 71 percent of businesses run two or more A/B tests per month. Looking for ways to improve performance on your ad campaign? Maybe you’re trying […]
55% of digital marketing professionals say blog content is their best strategy in lead generation. A survey conducted by WordPress found more than 409 million users view over 21.1 billion webpages every month. 77% of online users habitually read blogs. On average, content marketing gets three times more leads than paid search advertising (according to […]
61% of digital marketing experts say improving SEO and expanding their online presence is their top priority. Organic SEO is about 6 times more effective than paid search ads. 52% of web traffic comes from mobile devices. One of the most effective ways to market your business online is by having a stellar website. But […]
81% of U.S. users have at least one account on social media, and over 50% have more than one. More than 80 million small businesses have Facebook Pages. Instagram ads can potentially reach over 849 million users. Social media has arguably experienced the most growth of any digital marketing strategy. Its impact on business growth […]
69% of potential employees won’t apply to a business that has a bad reputation 92% of consumers read online reviews before deciding to engage with a business 85% of people think online reviews are as valuable, or more, than personal recommendations Your personal reputation isn’t so different from your business’s reputation online, except that online […]