Basic advertising centers on your knowledge of your target audience. If you don't know your target audience, you're likely advertising to a bunch of people who have no interest in your product or service. Therefore, you're wasting valuable money.
A target audience is simply a collection of common denominators in relation to a group of people who are or would be interested in your product or service. Those include age, gender, profession, where they live, etc. Those are called demographics. Psychographics center on traits such as hobbies, likes/dislikes, etc.
Here's how to better understand and define your target audience.
Current customers
This is obvious and simple. These are people who have already purchased something from you previously. If you do business online, in many cases, you'll already have a fair amount of data about them. These people will tend to speak about your product and service. You couple that with adding some of their demographics and/or psychographics, you can understand or target a potential future customer.
Past customers
This set of people can help you understand what they may not like about your product or service anymore. For example, if someone was 25 and bought something from you in the past, and now that person is 40 and doesn't purchase from you anymore, you can possibly pinpoint your target audience as someone younger than 40.
Demographics/Psychographics
Age, location and interests, as mentioned previously, play pivotal roles in developing your target audience. Age and location are especially important. Age was already discussed. But location is key because if you're a local business in Florida, you probably don't want to advertise to someone in California, for example.
Social media social listening is a valuable trait to possess when getting a definition of your target audience in this area.
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