The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
-Peter F. Drucker
The importance of the target audience in marketing and branding isn't something we can ever overstate.
But simply, without the audience, there is no brand.
The brand exists to serve the audience and it's in their mind the brand is built.
Understanding what interests the audience is crucial for the progress of the business.
How to Understand Your Target Market
What problems does my company's product or service solve?
If you've been in business for any length of time, you should have some understanding of why your product or service exists. Every business exists to solve a problem (or problems). Identifying what these problems are can be useful in determining who your target audience is
Your content should be related to that purpose, too (that means resisting the urge to share irrelevant memes just because they're funny—if it's not connected to your mission, it doesn't belong in your content marketing).
What kind of people is likely to be suffering from these problems?
Build a list of the kind of people your business could help. You can then paint a picture of who these individuals are. Are they male or female? Do they have high or low incomes? Where do they live? All this can help determine what will appeal to your audience.
''Understanding the people who experience the problem you solve is, without doubt, one of the most critical tasks in the entire realm of branding.''
Who are our current customers?
If you're not sure who buys your product or service, someone in your organization almost certainly does. Consider asking your company's executives or sales teams for this information. It may also be necessary to segment your types of customers. For example, you may categorize customers based on location, budget, or needs.
Who is your competition?
You likely know who your obvious competitors are. However, some quick searches on Google and social media (particularly on Facebook and Twitter) can often reveal upstart competition you may not have been aware of. Try searching a keyword or two that are related to your industry. See which businesses come up.
Step 1: Conduct Market Research
When you want to know more about your target audience, you need to conduct good old-fashioned market research.
The goal of market research is to get as many details as possible about the group you're targeting, which you can later use to build personas.
Step 2: Build Your Personas
Now that you have collected detailed information about your target audience, you can start to build buyer personas.
A persona isn't a simple buyer profile. A buyer persona is a representation of your ideal customer, based on market research and actual data about your existing customer base.
Step 3: Identify Influencers of Your Target Audience
Once you are done with your market research and defined your personas, it's time to consider the influencers who can help you grow your brand's visibility. You ought to distinguish the individuals who have a direct influence on purchasing decisions. These are the people who can significantly impact your customer's purchasing decision.
While influencers can include celebrities, journalists, and even industry analysts, the focus is on social influencers. These individuals are the ones who have built a substantial social following and engage with their audience regularly.
Pay attention to engagement:
The number of social followers is a metric to view when considering an influencer, but just as important (if not more) is the level of engagement. You want to work with an influencer who has a high engagement with followers.
Make sure the influencer likes your brand:
You need the influencer to be an honest to goodness brand advocate. This validity will come through in his or her informing. Buyers are sharp and can regularly distinguish when an influencer is a fan of a brand. Attempting to trick buyers has the potential to harm your brand picture.
Know how much the influencer is worth: When you involve an influencer, expect to pay money. You should know the worth of the influencers.
It is trendy as well as vital to talk about customer's needs and vision, but a good marketer should also be focused on what has remained unchanged: human instincts, motivations, desires, and needs.
The more you know about your audience, including your target customers and key influencers, the greater success you will achieve through your digital marketing.