The Power of Knowing Your Target Market
Brand Designer: Kim Chi Vu
Location: Texas
What Is Target Audience and Why It's Important?
"A target audience is a group of people with specific needs that can be met by your business. In other words, your business should sell a certain product or offer a service that will tackle the specific need. The target audience may be broad (everyone who drinks beer) or narrow (craft beer connoisseurs in the high price range). The wider a target audience, the more blurred its description, making it difficult to highlight the specifics of the potential customer."
"The wider a target audience, the more blurred its description, making it difficult to highlight the specifics of the potential customer."
How Your Target Market Influences Your Business Plan?
Your target market influences every section of your business plan. Before we describe how to define your target market, you’ll need to know a little about how your target market will influence the development of your business plan. Here’s how your target market will come through several sections in your business plan.
Social characteristics, such as gender, age, marital status, income, occupation, educational level, nationality and even pet ownership.
How do people spend their free time (forums, websites, online shopping, social media, etc.)?
What problems might a potential customers solve by using your product or service?
What feelings does your customer have for your product or service?
Why should a customer buy your product, rather than a competitor’s?
How Your Brand Appeals More to Your Ideal Consumers?
Marketing main purpose is to match the value your business is creating with the right customers. There's no one-size-fits-all marketing strategy that will deliver you the results you're aiming for. A proper strategy focuses on really understanding your target audience, knowing what your customers ask for and determining the best channels to deliver it on. In addition, getting to know your target audience allows your marketing to be finely targeted. Your brand value should speak to your target market, addressing their specific needs in a language they can relate to.
"There's no one-size-fits-all marketing strategy that will deliver you the results you're aiming for. A proper strategy focuses on really understanding your target audience"
How to Make Your Brand to Become More Relevant?
Some of the most successful brands are the most relevant brands. Brand trust is loyalty. Brand relevance comes down to trust. It's not enough for a brand to just promise change, you must actively engage and drive change through your brand. Is your brand story” coming across in everything you do? Is that story consistent across all channels?