How to Pick the Right Target Audience for Your Product

Launching a new product comes with a lot of risks. Not only do you need to understand the market landscape but also figure out your target audience so that you can focus your marketing efforts in the right place. This will prove to be cost-effective as you will be able to successfully offer your product to your niche emphasis Paul Haarman.

But first, you need to understand how a target audience works:

What Is Target Audience?

In simple terms, a target audience consists of your share of consumers, which you are trying to reach through your advertising efforts. When you are picking your target audience, you need to consider the following factors:

  • Gender
  • Age
  • Educational background
  • Social class
  • Purchasing power
  • Consumption habits
  • Location

Here’s an example shared by Paul Haarman to help you understand how these factors are used:

You are in the business of selling comfortable yet fashionable heels for women that can be worn to offices and parties. Your target audience will be women in the age between 20 and 30 years old, with middle class status living in Los Angeles having a bachelor’s degree and with a monthly income of $5,000 who love dressing up and going out.

Once you have nailed the details of your target audience, if you want, you can dip into their persona, which will include factors such as:

  • Purchasing power
  • Personal characteristics
  • Lifestyle
  • Social networks engagement
  • Interests
  • Professional information

Now that you know the basics of designing your target audience, let’s talk about how to select it:

Know Your Current Customers

With your website created, you can use Google Analytics to find out what types of people visit the platform says Paul Haarman. You can gather this information and create a skeleton of sorts to put the puzzle pieces together. This information will give you great insight into how you need to target your customers.

Conduct Market Research

A SWOT analysis of your business will help you reveal how your business is doing. Your market research should include information from both ends: The business and customers.

Here’s what your market research will help you recognize:

  • Market trends
  • Location
  • Demographics
  • Psychographics
  • Industries
  • Economic shifts
  • Personality type and pain points
  • Motivations
  • Customer’s buying habits
  • Competition

Think About Your Product’s Benefits

When thinking about who would like your product more, focus on the benefits and not features. List down what your product offers, and then think about who would benefit from it. For example, you are selling stilettos with removable heels. This will provide working women with comfort during late nights at the office says Paul Haarman.

Analyze Your Competition

If you have a competitor in the market, looking into their product and marketing campaigns can tell you where to begin. Review their social media presence and marketing strategies to pinpoint to specific groups that like the product.

It’s possible that your audience might be the same as theirs. However, make sure to use your USP to pinpoint those qualities in your target audience that would make them love your product more. This will also come in handy when designing your campaigns, as you can use the information to draft the perfect brand message.

And this is how you pick your target audience! The process can be a little challenging, but you won’t face any trouble if you get the information right. If you feel that this is out of your scope, hire John Doe for the job. As an expert like Paul Haarman in the marketing field, they will help you design the perfect target audience profile that will allow you to cast a wide night in the right place.

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