by admin - 29 Jul 2021

As most businesses are making their presence online these days, marketing and advertising costs are growing exponentially. With such high digital advertising costs, you would not want to waste your hard-earned money in advertising to people who are not interested in your product or to whom your product/offer does not relate.  

The best way to save your pockets while getting optimum leads and conversions would be by marketing your product/services to a target audience rather than random people on the Internet. We will guide you on how to find your target audience and leverage the best digital marketing practices. 

WHAT IS THE TARGET AUDIENCE? 

If you run a business, you will have a product or service to offer, and this product/service will be catering to a particular group of people. This group of people who might be interested in your product/service and potentially convert from a visitor to a customer is known as the target audience. These people are grouped according to the demographics and a few personal details.  

When we say target audience, chances are that you might get it confused with a buyer persona. There is a thin-line difference between the target audience and buyer persona, such that your buyer persona is the fictional representation of your ideal customer and his/her journey, whereas the target audience is a group of people who might be interested in your product/service. For your business, both the buyer persona and target audience are crucial and cannot be compromised for each other. 

WHY SHOULD YOU DEFINE YOUR TARGET AUDIENCE? 

If we go by the stats, Proxima estimated that nearly 37 billion dollars of ad spend are being wasted every year in advertising to the wrong audience resulting in poor digital advertising performance. So much ad spend gets wasted in advertising to the wrong audience. This wastage of ad spend can be saved if the ads are directed to the target audience as there is a higher probability for conversion and sales.  

When you define your target audience, you can address their pain points and customize your messages and ad copies that align with their interest. Having a clear understanding of your target market and serving them with a relatable piece of content, boosts your marketing ROI.  

For example, consider you sell expensive luxury handbags for women. There would be no use in advertising your product to a random audience comprising both men and women whose budgets fall out of your pricing. Instead, consider a few demographics like gender, consumption habits, income, etc., to find the ideal group of people who fall into the target audience group.  

When you have a clear idea of who your audience is and their demographics, you can target the most appropriate keywords such that your PPC campaigns bring better results and boost your search rankings. Having a good understanding of your consumer persona, also helps you incorporate negative keywords in PPC campaigns to drive relevant leads and lower your CPC. 

HOW TO FIND THE RIGHT TARGET AUDIENCE? 

Target audiences are usually segregated from the random crowd using a few demographics like age, gender, location, educational background, interests, etc. Filling out these spaces gives you an idea of who can be your customers. You can determine your ideal target audience by following these below-mentioned steps. 

1.Know Your Existing Customer Base 

Prior to find out who could be your target audience, you must analyze your existing customer base. If a person has previously bought or made a purchase with your business, you must consider his/her demographics and find how he/she landed your business and what interested them to buy from you. When you find the answers to these questions, you can find out your target audience. A person who has once purchased from you will have a probability of returning in future too.  

2.Research About The Industry 

Perform comprehensive research about the industry that you deal in and its consumers. Every industry will have a dedicated consumer base, for example, if you manufacture cake tins, bakers and women interested in baking could be your target audience.  

3.Address Their Pain Points & Interests 

After finding the ideal demographics of your target audience, try to find their pain points and interests. For example, if we consider the previous example of manufacturing cake tins, there might be the latest trend of baking different unique shapes of cake. But it might be difficult for a consumer to purchase separate cake tins of every shape that will cost them too much.  

You must try to leverage consumer interest, along with addressing their pain point of overspending for buying separate tins for every shape. Your product must solve consumer’s problems by manufacturing a customizable silicon-based cake tin that can customize the cake to any shape as required.     

4.Analyse Your Competitor’s Target Audience 

Competitors are good for every business as when there is competition in the market, the best services get rendered to the consumers at affordable prices. Analyze to whom your competitor is selling its services and find if you have leveraged the similar demographics as used by them. Also, try to fill the gaps in your competitor’s business strategy and drive increased leads and sales. 

5.Where Does Your Target Audience Have A Greater Presence? 

In the world of digital advertising and social media advertising, it is not a big thing to find insights about your consumers, where do the maximum traffic and leads come from and other analytics. Using the tools like Google Analytics and Google Search Console, you can track user behavior and what type of content is driving traffic so that you make better data-driven decisions for your marketing campaigns. 

Use these insights and strengthen your presence in the places where your target audience is highly active to accentuate your brand awareness and generate increased leads. Having a presence where your audience is already present doubles the chances for conversions.  

To drive customers to your brand, you have to show up initially. It is essential to show up to the right audience that minimizes advertising costs and saves your marketing budget. Defining the target audience and advertising your product only to them boosts the sales, and also your marketing ROI.  

Along with determining the ideal target audience and consumer persona, leverage the latest marketing trends for better results. If you are looking to expand your business and boost your sales with top-notch Marketing strategies, connect with Entitledarts, the best digital marketing agency in Hyderabad, India. We have been helping clients across the globe with their digital transformation via designing, branding and marketing services.