Would you sell ice to an eskimo, a parrot to a pirate or a magic wand to a fairy princess? No, because the chances of the sale going through is pretty slim. The same rules apply when developing a target audience for your product or service. In a work-hard-play-hard marketplace, it’s important to set aside both time and money to develop one of the most fundamental aspects of your business plan – crafting an audience that is *most* likely to respond to your marketing.
If you find yourself in a sales plateau – or slump – then it may be time to re-evaluate who your audience is or find new audiences. By defining your target audience, you’ll notice an increase in website traffic and in turn, increased ad sale revenue.
At a high level, a target audience can easily be defined. It is the demographic, or behavior sets of people who are most likely to show interest in your product or service. These demographics range from a number of different things. Single men in their 20’s, parents, grandparents, people who live in NYC, or dog owners are all certain demographics that can go into building a target audience. All have specific interests and are considered target audiences in marketing campaigns. In some marketing campaigns, you want to get as granular as targeting males in their 20’s who have dogs and make over $30,000 a year. Knowing your target audience is a great starting point in any marketing strategy journey, and here is why.
Messaging and tone are very critical in developing and planning any successful marketing or sales campaign. The tone of your advertisement should reflect the type of person you are trying to reach. By finding that target audience, you can tailor or craft messages that appeal specifically to that group, to ensure that it is striking a chord with them, and ultimately gain their attention.
Once you know who you are targeting, it is also that much easier to make decisions on media allocations. If you are specifically targeting women in their 20’s, you don’t need to place an ad on EVERY site. You can choose to advertise only in those that resonate with the specific audience. By doing this, you will save money, get a better ROI (return on investment) and reduce wasted audience.
It’s not as simple as a one-size-fits all approach. Your target audience can actually be several – dozens or even hundreds – of groups of people, who have different goals, needs, characteristics and points of view.
We always hear people say that, “Any business is good business.” But, is it really? Are you losing money in messaging campaigns? Attempting to appeal to the masses turns out to be a big mistake when it comes to marketing. It has to be a very specific, creative, and focused process; and once you know who your target audience actually is, you will be able to hone in on and convey a stronger, more direct message, which will ultimately lead to MORE conversions for your company and have an impressive ROI.
by Haley Adam, Product Marketing Manager