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How to identify your target customers?

By  RANDSBARG 1 year ago
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9 Min Read 0

Identifying Your Target Customers

Your target customer is the person you've identified as most likely to purchase your products. This is a much more segmented portion of your target market, as you've identified certain aspects of this individual. These components might include a specific age instead of a range, a specific income level versus a large swath of income types, and the reasons these customers are most likely to purchase your products.

To begin, you’ll want to establish the need for your product or service, focusing on what problem it can solve. Then refine your target market by identifying who has bought your product or service already. 

This includes target demographics, audience type, and any other attributes associated with your target customer. If your product or service is brand new, you may want to look to your competitors to gain additional insights.

In all transparency, the toughest part of this process is to avoid making assumptions. This is vital to the quality of your customer targeting, because if your assumption is incorrect – it’s a direct hit to your conversion rates.

For example, if you want to start a handmade pet biscuit business, you are probably an expert on your products’ many benefits. But don’t assume consumers know these things as well as you do. They may not even know such a product exists.

As your business grows, you should continue to evaluate and stay up to date with your target customers. Your target market is absolutely dynamic. It’s always evolving and taking new shapes.

To define your target customers, ask yourself the following questions:

Who your customers are

  • Are your target customers male or female?
  • How old are they?
  • Where do they live?
  • What is their marital status?
  • Do they have children? How old are they?
  • What is their education level?
  • What do they do for a living?
  • What is their average income?

Customer interests and buying habits

  • What motivates a customer to make a purchase?
  • What are your customers’ common interests?
  • Who makes the buying decisions?
  • How often do they purchase a product?
  • Do they shop online or prefer to see their product before they buy?
  • How long does it take them to make a buying decision?
  • What form of media does your target rely on for information?
  • How far do they travel to make a purchase?
  • What other products do they buy?

Then explain how your product and service will fit into their lifestyle and how it best meets their needs.

Why is targeting in business so important?

Targeting in business is important because it’s a part of a holistic marketing strategy. It impacts advertising, as well as customer experience, branding, and business operations. When your company focuses on target market segmentation, you can do the following:

  1. Attract and convert high-quality leads. When you speak directly to the people you want to target, you are more likely to attract the right people. Your business will more effectively reach the people most likely to want to do business with you. When you connect with the right people, you are then more likely to get high-quality, qualified leads that will turn into paying customers.
  1. Differentiate your brand from competitors. When you stop trying to speak to every customer in market and start focusing on a smaller segment of that audience, you also start to stand out from competitors in your industry. When customers can clearly identify with your brand and your unique selling propositions, they will choose you over a competitor that isn’t specifically speaking to or targeting them. You can use your positioning in marketing to make your brand more well-known and unique.
  2. Build deeper customer loyalty. The ability to stand out from competitors by reaching your customers on a more personal, human level also creates longer-lasting relationships. When customers identify with your brand and feel like you are an advocate for their specific perspectives and needs, they will likely be more loyal to your brand and continue to do business with you over a longer period of time.
  3. Speak directly to a defined audience. Marketing messages resonate more deeply with audiences when readers can relate directly to the information. Brands that have a large, varied market of customers often struggle with creating marketing campaigns that speak directly to their audience. Because their viewers are very different, few slogans or stories can resonate with each person on a personal level. Through target marketing, you can alleviate this problem and focus on crafting messages for one specific audience.
  4. Stay focused. Finally, the benefit of using targeting in marketing is that it also serves to help your brand and team. Target marketing allows you to get more specific about your marketing strategies, initiatives, and direction of your brand. It helps you clarify your vision and get everyone in the organization on the same page. You have more direction when it comes to shaping upcoming plans for both marketing and the business as a whole. A focused approach helps you fully optimize your resources, time, and budget.
  5. Improve products and services. Knowing your customers more intimately also helps you look at your products and services in a new way. When you have a deep understanding of your target audience, you can put yourself in their shoes and see how you can improve your offerings. You can see what features you can add to better serve your customers.

Advantages of Targeting Strategy in Marketing

Targeting the right set of customers is critical for any business. Some of the important advantages of targeting in marketing are:

1. Targeting helps a company to use its resources wisely.

2. It helps in ensuring a strong focus towards the right set of customers.

3. Targeting strategy in marketing gives the employees a sense of direction where they can channelize their energies.

4. It helps how customers look at its brand when compared to competitors.

5. Targeting helps companies avoid redundant costs on customers who would not be a target audience for the product or service.

Conclusion

At the end of the day, the goal is to perform targeted customers efforts that put the right message in front of key segments, which is why you’ll want to keep data on your target audience up to date. As the marketplace shifts and evolves, your target customer may change. Get ahead of the curve, and you’ll always be one step ahead of your competition.

 

 

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