It is the 21st century and the culture of opening your own establishment or business is the norm. Why, you ask? Because the advent of social media has taken the world by storm and has given a lot of able individuals the capacity and the chance to open their businesses/ventures. Today, if you want to make it big in any industry, the first thing you need to do is set up your website and for that, you will need to hire a verified and reliable website design company. Many big and small agencies hire creative agencies because they want not just to start their own website but also to establish themselves on all social media platforms. Branding agencies help companies create profitable brands online and these brands attract the right kind of customers. But all of this is futile if you don’t have a clue as to who your target audience is. Trying to comprehend who your real target audience is requires loads of research and analysis.
Today we will touch upon this very topic and go through a couple of tips used by branding agencies to reach the right kind of audience if you are a start-up. But first, let us understand what are the benefits of fully knowing who your target audience is, shall we?
The benefits of understanding and knowing who your target audience is are:
The biggest benefit of understanding who your target audience is that it helps you save a lot of money, time and raw material. Imagine this, if you make hair oil but don’t know who your target audience is, chances are, you will end up coming across the wrong kind of people who will not show any interest in your product and that will lead to money getting wasted by marketing the right product to the wrong people. You also need to sell your products or commodities within a time frame and if you don’t do that with the idea of who your target audience is, you will lose the opportunity of creating a demand in the market and your competitors will make the most of this lost opportunity. It is a known fact that you can’t anticipate everyone’s reaction to whether they want your product or not. So realizing who needs it will surely help you focus more on improving the product and selling it to the right person will get you your desired ROI.
Sometimes when you don’t know who your audience is, you can start by defining the audience that is definitely not your target and that will help you narrow down your pool of people. For example, if you are a lingerie manufacturing company, you may not know the kind of women you need to target, but you definitely know that men are not on that list. This is how you eliminate unnecessary elements from your target audience pool.
There are always methods to define your target audience. One of the methods that are widely used all around the world by big and small companies/agencies is the SWOT analysis. This can be used to understand your target audience and your competitors too.
Now that we know the benefits of defining our target audience, let us find out how we can reach out to the right audience if you are a start-up owner.
1. Defining the audience with the help of age, sex, income, culture and demographics
This rule is the cornerstone of defining every target audience. You need to know the location, age group, gender, income and demographics of the target audience to understand who fits into these points. For example, if you are trying to sell a product that eliminates fine lines and wrinkles, you will basically target the age group of 30-45-year-old women with a reasonable monthly income and these will mostly belong to urban cities as they don’t have time to take care of their skin by concentrating on a healthy diet and lifestyle. So they need an external product that will help them make their skin wrinkle-free. Usually, if you are an online start-up with an eCommerce site as your base, you will need an audience that is tech-savvy, has good smartphones or laptops and uses online forms of payment on a semi-regular or regular basis. Once this is defined, you can conduct a survey on the kind of products they like and dislike and narrow down the TA pool drastically by understanding their choices too.
2. Competitive analysis
Once you have defined your target audience then you can conduct a competitive analysis to understand the market trends and also deduce a plan as to how to outperform your competitors and get an edge over them all. This helps us reach our audience better because we don’t just focus on the product features but also understand the other aspects that contribute to its popularity and reach.
3. Setting up social media pages and targeting the audience as per age, sex, culture and demographics
Reaching out to your potential customers through social media platforms is one of the fastest and easiest ways to build your audience. Be it a large number of audiences on Facebook or the tech-savvy and trendy audiences on Instagram, these social media pages know how to cater to the needs of all kinds of people who could be your future source of revenue generation. But to make the right choice and reach out to the right audience, you will have to set up the page by keeping in mind all the criteria like age, gender and demographics.
4. By the kind of people that like the posts online- understanding the needs of the audience in-depth
Once you have set up ads on different social media platforms according to age, gender and demographics, you will understand how effective your deductions were when the right or the wrong kind of audience gets to know about your product range and increase or decrease your conversion rates. For example, if you have a makeup brand and your ads reach some people who love makeup shopping and it also reaches some who hate it, chances are these reactions will help you understand how successful your tactics were. You also need to ask yourself a question after implementing these steps and that is - is your business solving problems with the product launched or does it not have any solid impact on its audience? This question will further let you know how effective your analysis has been.
5. Conduct surveys with your existing customers to understand if the need of your customers are being met
Once you have reached out to your audience that is consistent and regular, now you need to conduct extensive surveys and comprehend the effectiveness of your product range in regard to their needs. If their needs and likes have been met then you can keep those attributes for future marketing purposes and the ones that haven’t worked out in your favor can be changed or improved accordingly.
Conclusion
The above-mentioned points help us understand our products and our marketing tactics better. With these tricks, you can reduce your bounce rate and increase your website conversion rates and eventually see a healthy rise in your revenue too. Not every marketing tactic has to work but research and development is a non-negotiable step that helps us reach out to a wider range of audience.
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