Target audience are simply the people you need for your business to grow, either to buy your products or services.
As a small business owner, you cannot afford to target everyone. Actually, no one can.
Target marketing helps you to concentrate your marketing effort and brand message on a particular demographic that is more likely to buy from you than others.
In other words, defining your target audience/customers is determining the exact qualities of the individuals or companies you believe are most likely to purchase your product or service. A demographic profile is a term used to describe these traits.
Customers are classified based on a variety of factors.
Here are some factors that should be considered when creating your demographic profile :
- Age
- Location
- Gender
- Income level
- Education background
- Marital or family status
- Social class
- Location
- Consumption habits
- Occupation
- Ethnic background
You should also consider the Psychographics of your customers. Psychographics are the more personal characteristics of a person, including:
- Personality
- Interests/hobbies
- Attitudes
- Values
- Behavior
- Lifestyles
Determine how your product or service will fit into the lifestyle of your target market. What will your target audience do with the product and when will they utilize it? What features do you think your target will find most appealing? What sources of information does your target use? Is your target a newspaper reader, a web surfer, or a regular attendee of certain events?
An example of a target audience for a beauty store brand would be: Women, 19-55 years old, living in Abuja Nigeria, monthly income of #150,000 – #300,000, and passionate about fashion, skincare, and makeup.
Defining a target market will increase cost efficiency and not limit it. With knowing the people you are marketing to, you can tweak your business idea to better meet the needs of your potential customer base and tailor your products and services to better meet your customers’ needs and desires.
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