4 WAYS TO DETERMINE WHO YOUR BRAND'S TARGET AUDIENCE IS

Launching a new brand—product or service—involves a significant amount of risk. Understanding the market landscape will assist you in reducing risk and focusing your brand marketing activities in the most cost-effective manner feasible. One of the most important aspects of a marketing strategy is determining the correct target demographic for your company. Strategies that are too broad to begin with are less likely to succeed than those that are focused on a specific market segment.

As a result, before you start marketing your business, you must first determine your target audience—the exact set of people who would buy your products or services. It will be made up of both current and potential clients.

This differs from defining your target market, which includes everybody who might be interested in your goods or services. The target audience is the group of people on whom you want to focus your brand marketing efforts, whether through a digital marketing campaign, an advertisement, or a social media platform.

Target audience research was most useful with content marketing, social media marketing, and SEO efforts, according to Databox's newest survey findings.

When you understand your target audience and their pain issues, you can better develop content and target adverts with the appropriate marketing message for each category. It's critical to understand that not all messages are received in the same way by different groups of individuals. Personalization, in fact, is widely accepted by marketers as a means of advancing client connections. On the other hand, not knowing this important information could cost you a lot of time and money.

Here are four methods for determining your brand's target audience:

1. Research the market.

Begin with conducting market research in order to assess all areas of the market. This can be accomplished by doing a SWOT analysis, which determines a company's strengths and weaknesses, as well as opportunities and threats.

This form of market research can identify the following:

• the location (local, national or international)
• Statistics on the population (age, gender, occupation, income level, marital status)
• Psychographics are the characteristics of people (values, hobbies, lifestyle, personality, attitude, behavior)
• If there is a B2B focus (medical, accounting, lighting, nonprofit), industries (medical, accounting, lighting, nonprofit)
• Market developments
• Changes in the economy
• Purchase habits of customers
• Pain points and personality type (persona)
• Motivations
• Competition

Knowing all of the aspects that influence your brand's market and buying path is an important first step in determining the proper target audience.

Accounting firms engage in a strategic study with its customers using MarketectureTM, a proprietary discovery method that helps them understand how their firm might be best positioned in the marketplace. It investigates a company's customers' pain points, purchasing reasons, competitive problems, and marketplace pressures.

2. Recognize the buying process and pain areas

Understanding the purchasing process and pain points is crucial to branding. It's critical to pay close attention to not only defining your target clients, but also understanding their various purchase considerations and pain issues as part of your market research.

Consider yourself in the shoes of the customer and ask crucial questions like:

What is the desired outcome for my target audience?

This will help you to create personas and frame content that solves those problems—all while keeping the buying cycle in mind (awareness, consideration and decision). Personas are fictitious characters based on research that help you depict the many user types who may interact with your brand in a similar way.

Personas will assist you in better understanding the needs and pain areas of your brand's users. Customized key messages and content that speak directly to those personas will increase the likelihood of moving them down the sales funnel.

3. Get to know your current customers.

Learning about your current customers—from demographics to preferences—is one of the best methods to determine the correct target audience for your business.

There are a number of options to consider, including:

Analyzing the data from your social media and website. This might help you figure out who's coming to your site, how they're getting about, and which pages they're looking at the most. Also, be aware of who interacts with your social media accounts.

Obtaining detailed information on user replies using platforms such as Google Analytics, Hotjar, Hubspot, and Facebook Insights.

4. Use multi-segment (differentiated) marketing techniques.

This strategy is still taken into account while looking for the correct target audience (even if it's for a single product or sector). Multi-segment marketing seeks to attract clients from various market segments to buy the same product for the same purposes using digital marketing, social media, public relations, and content writing. It could be different decision makers at different stages of the sales funnel who hear different messages but contribute to the purchase or sale in the end.

Some businesses sell the same product to multiple segments due to its broad appeal, while others create multiple product lines that appeal to different demographics.

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