Once you have defined your marketing problem, you can start taking a closer look at one of the most important key performance indicators in your marketing campaign: your target audience.
Experienced marketers try and study the target market at earliest possible stage in the media buying process. Do you know why? They do this because the accuracy with which you are able to pin down your target market and consumer behaviour will directly impact the success of your product or service. Accurate target audience assessments translate into precise and highly relevant marketing campaigns that result in a high level of target audience engagement. This directly impacts the sales you make as a result of your marketing campaign.
Factors like age, gender, geographic location, educational and socioeconomic background are a great starting point. You also want to dig deeper and look at specifics like lifestyle, social platform usage, purchasing habits, consumer behaviour, personal interests as well as study the brands your target customers already love. Generally speaking, the more information you can add in and really pinpoint your target customer at this stage, the easier it will be for you to craft a very specific campaign that speaks directly to users’ sensibilities. An engaged audience is ripe for pitching a product or service and will result in actual sales as opposed to a rise in vanity metrics only. Ask the following questions for a deeper understanding of your target market:
- Who is your target audience?
- How does your target audience change from medium to medium? (e.g. Hoardings, digital media, radio, print etc)
- What kinds of platforms does this audience use to gain information about products, services or interests they want to pursue?
- Where and when do they make the majority of their purchases? (e.g. After hours in the shopping mall, during the day on online e-commerce sites etc)
- What kinds of brands do they already follow?
- What are the core values of these brands?
- What about these brands appeals to your target customer?