A common mistake that most people tend to make when starting a business is to target all market segments and try to appeal to everyone. This almost never works because what you offer is not going to be relevant to everyone. Trying to be successful by marketing and promoting your offering to everyone is a recipe for failure. So, if you are planning to launch your own business or want to build on a business that’s already established then make sure you do not make this common mistake while chasing leads and potential clients.
In reality, being clear about your target audience and what makes them tick is an important element of business success and an indicator of good business health. Only when you are well aware of your target market will you be able to tailor your product/service offering as well as marketing efforts to satisfy their needs and expectations. Be it a local business, an outsourced production or service provider, or any other type of entrepreneurial venture, accurately identifying and defining a target market is actually one of the most effective methods to succeed when running a business.
There are a number of steps you can take to identify your target audience properly. Here are three simple things to think about when defining your perfect audience.
- Online Reviews and Surveys
Carrying out surveys online and gathering reviews will help you stay on top of things and be fully aware of what your consumers are thinking about. The important bit when it comes to conducting online surveys is knowing what you want to find out with each question. Also, the questions should be kept short and simple that can be easily answered. So, make it a habit to design survey questions that are short and simple.
- Social Media Polls
You ignore the power of social media at your own peril! It is great for many things, one of which is surveying and analyzing your target audience. Social media allows you to do that in a very effective and specific way. It is one of the most popular tools for marketing or getting leads in this day and age. Your business success depends on it. Sites like Facebook, LinkedIn, Twitter, and Instagram are great ways to find out more about your customers. Social media makes it very simple and easy for you to engage with your target audience and listen to what they are saying. Another benefit of using social media polls is the analytical tools that they come equipped with. These analytical tools can help you gather lots of important data about your target audience’s age group, profession, location, and much more.
-Analysis of Existing Customers
It is important to analyze your current customer base and gather information about their gender, age, location, profession, income, and other considerations. By doing this you can understand who is currently buying your product or service. Once you have identified this group, the next step is to consider how you are reaching them. Is it through social media? If so, which social media platform has been the most effective in attracting customers for your offerings? Understanding your current customers and everything about them will help you focus your efforts towards the right target group, close more leads, and even decrease the average time it takes to make a sale.
These are a few of the more simple and easy ways you can target the right audience for your business success. At the end of the day, it is all about doing your research properly and carefully crafting buyer personas so as to identify new leads that can be closed through a well thought out strategy.
‘The more you engage with customers the clearer things become and the easier it is to determine what you should be doing.” - John Russell
