Who is your target market?
In order to reach your target market – you need to understand who they are.
Young or old, budget or luxury, families or single people…
Knowing who you are after helps position your brand, develop the correct message and decide which channels are the best to communicate through. You may have established this when first venturing into your business – a defined end customer you hope to serve. If so, then amazing! But in the chaos of starting and building a business, we understand things like this can go amiss.
So if you’re not sure exactly who your target market is – let’s run through how you can define them. Let’s build a picture of what your current customer looks like or what your desired customer would be.
First things first, the basics.
Grouping your consumers by their Demographics.
Where are your customers located? Do you service locals in your neighbourhood, town, city or perhaps region? Or is your offer available nationwide, throughout the country? Even larger than that – perhaps you can supply internationally?
Knowing where your target market is located helps to define where your communications should be going. There’s no point targeting a customer in Christchurch if you can only deliver your service in Tauranga.
How old are your customers? Are they children, teenagers, young adults, middle-aged or retirees? Knowing which age groups you are targeting can help define many aspects of your marketing plan – from product to placement, to the overall look and feel of your brand. We can use information on your customers’ ages to decide the best digital channels to push your brand on.
Do they skew towards male or female? Maybe both genders use your product – but the male or the female of the household makes the purchasing decision? Is there one side that comes to mind as being the main buyer?
Having a gender-specific target market helps focus in on getting your message across to the person with the highest likelihood of wanting to buy your offering or the one with the buying power.
High school, university, post grad, masters degree?
Someone with a masters degree may take a different path to making a purchase decision than someone who may not have finished high school. The research they undertake may vary – differentiating between researching online specifications and reviews, to word of mouth and community/facebook recommendations.
Is your offering targeted to a specific industry? Is there a certain profession customers tend to be in? Popular occupations in your target market could indicate where they sit on the income scale. Digital marketing offers targeting options which can hone in on certain occupation types and catch similar audiences to your current clientele.
Are they higher or lower on the spectrum? Blue collar or white? Knowing what range of the income scale your customers sit on can help indicate what type of products they go for – budget or premium? Communications can be tailored to speak to each of these audiences accordingly – making sure you capture the attention of the right people.
Are they single people or couples? Parents, grandparents, empty nesters. Are they a small family of three or do they share a household with extended family? Knowing the family dynamic of your target audience can help you build a picture of who they are as a customer. Different groups will make different purchasing decisions, have different levels of disposable income and value different factors of a product or service.
What cultural background does your customer come from? European, Maori, Pacific, Asian? What kind of cultural values might they hold?
The answer to these questions will paint a factual picture of ‘who’ your customer is. Your customer base may be a really specific niche group, or it may be relatively broad. Regardless, the answers will help focus in on who you want to be communicating your message to.
Next, let’s look at some psychographic aspects.
By looking at the psychographics of a target market we can get an idea of the type of lifestyle that our customer leads and what motivates their buying decisions. What it is that makes them tick? You’ve got the overall picture built from the demographics – now it’s time to get further into their mind.
Are there common personality traits you can see in your clients? Are there certain personality types your offer works best for? Are they outgoing, introverted, calm, loud, sensitive, assertive? Are they concerned with health, appearance, ego, status? Does your offer address a key pain point for this group of people?
By knowing the personality traits of your target market – we can use these to define and target the audiences you want to reach through Facebook ads.
What does your customer’s lifestyle look like? Are they gym bunnies, adrenaline junkies, soccer mums, surfer dudes? What are their interests and hobbies? Are they after a healthy lifestyle or a glamorous one? Are they workaholics or living the student lifestyle? All these different lifestyle types paint a picture of how your target market lead their life.
Values & Attitudes
Check out the VALS framework for a more in-depth look at values and attitudes.
What type of person is your customer? Are they influenced by advertising, celebs or their peers? Do they value premium service and loyalty – or do they see value in a ‘no frills’ budget approach? Are they quick to uptake and then dismiss trends?