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Dear business owners, this is how To Identify Your Target Audience - Business - Nairaland

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Dear business owners, this is how To Identify Your Target Audience by missawele(f): 5:43pm On Jul 10, 2020
As a business owner or someone that is about to start a business one of the worst thing that can happen to you is to not have an idea of who you are supposed to be selling to.

Before you start a business you need to understand that not everybody is your customer. You can't sell to everyone. And in fact, you have no reason to try to convince everyone to buy your product.

The only people you should be trying to convince to buy your products are the people that your products are actually meant for. These people are your target audience.

So who is a target audience? A target audience is a group of people that are most likely to buy your product.

It is one thing to develop a product and it is another thing to understand the value of the product. And it is also another thing to know who the product is valuable for.

Many people know the importance of identifying the target audience but only a few people know how to actually identify them.

So today, I'll be putting you through on the step by step process of identifying your target audience.

If you get this piece right in your business, it will be easier for you to run. However, if you get it wrong every other thing in the business is bound to fail.

Your marketing will fail, your brand messaging will fail, your marketing messages will fail and it will not be easy for customers to resonate with your business.

So before I go on to talk about how to identify your target audience, let's first talk about the factors you need to consider when identifying your target audience.

1. Profitability: Before you can decide if a person is your target audience you need to consider how profitable the person is to your business. Will they be able to afford what you are selling?
The reason why this is important is that you wouldn't want a customer that has to struggle to buy your products. This will only stress you out because you have to explain to them why they need to part with the money they don't really have to get your product.
And that's not what you want as a business owner.

2. Recently: How recently a person purchased your product, a similar product or a competitor's product can determine if the person is a good fit for your business or not. Afterall, someone that purchased a product two weeks ago is a better customer than another person that purchased that same product about 11 years ago.

3. Frequency: How often a person uses a product is also a factor you need to consider. A person that uses our product frequently is a much better customer than someone that really uses that same product.

So we have talked about the factors that need to be considered before identifying your target audience. So let's start with the steps you need to take to identify your target audience.

1. Answer these two important questions:
*Which problem is my product solving?
*Who will benefit from the Solutions of my product?

The answers to these questions will determine if you have created the right product or not.
The first question should be about two to three sentences long. While the answer to the second question should be straight forward if you have answered the first question honestly and correctly.

But, if you are not able to come up with an answer especially for the first question you may need to go back and redesign or change your product completely. Because it means you don't know the problem you're trying to solve. And if you don't know why you created a product there is no way you'll be able to convince someone else to buy the product.
When you're done answering the two questions you can then move to the next step.

2. Define your buyer persona: Your buyer persona should include the demographic, geographic and psychographic details of your ideal customers.

The demographic details should include age, income level, location, nationality, marital status, and gender. While the psychographic details should include their interests, behaviours, habits, and values.

The reason for this step is because you want to understand how your ideal customers are. You want to know where they are, where they spend their time, how they think, what their goals are, what their pains are the challenges they are facing, their values and everything every other thing possible.

Having a clear understanding of who your ideal customer is will help you always deliver the right marketing messages that will resonate with them.

3. Look for them: When you're done with step 1 and 2 the next thing for you to do is to use the information you have gathered to fetch out your target audience.

This step can be carried out in two ways depending on whether you are just starting your business or not.

If you have been in business you will definitely have the details of your past clients and customers. So, just go through your sales record, CRM software, customer service records and any other place where you keep client details.

But if you're just starting your business your approach will be different.
Since you don't have any record you will need to go out there and talk to people. Have a conversation with them.
Tell them about your products. Tell them the value of the product. Talk about how it is solving a problem for them. Listen to their feedback. Ask them questions. Learn what their challenges are and find out how you can solve the problem.
If after having this conversation with them you realise that your product is not what they need, this is the time for you to go back and tweak your product to suit their needs. Because the last thing you want to do is to go to the market with a product that nobody wants. You will only be setting yourself up for failure.

If after going through these three steps you find out that your target audience is quite small, do not worry. Instead, focus your attention and resources on them because they have the bulk of your money and you need to get it from them.


Anyway, I am a digital marketing strategist and business coach. I help small business owners find clarity in their business & make sales online. If you are trying to start a business and don't know how to go about it, stuck in your business, want to make sales or just generally finding things difficult in your business, reach out to me. I can help,
Re: Dear business owners, this is how To Identify Your Target Audience by ridoola: 5:48pm On Jul 10, 2020
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Re: Dear business owners, this is how To Identify Your Target Audience by dopedan(m): 11:28am On Jul 30, 2020
missawele:
As a business owner or someone that is about to start a business one of the worst thing that can happen to you is to not have an idea of who you are supposed to be selling to.

Before you start a business you need to understand that not everybody is your customer. You can't sell to everyone. And in fact, you have no reason to try to convince everyone to buy your product.

The only people you should be trying to convince to buy your products are the people that your products are actually meant for. These people are your target audience.

So who is a target audience? A target audience is a group of people that are most likely to buy your product.

It is one thing to develop a product and it is another thing to understand the value of the product. And it is also another thing to know who the product is valuable for.

Many people know the importance of identifying the target audience but only a few people know how to actually identify them.

So today, I'll be putting you through on the step by step process of identifying your target audience.

If you get this piece right in your business, it will be easier for you to run. However, if you get it wrong every other thing in the business is bound to fail.

Your marketing will fail, your brand messaging will fail, your marketing messages will fail and it will not be easy for customers to resonate with your business.

So before I go on to talk about how to identify your target audience, let's first talk about the factors you need to consider when identifying your target audience.

1. Profitability: Before you can decide if a person is your target audience you need to consider how profitable the person is to your business. Will they be able to afford what you are selling?
The reason why this is important is that you wouldn't want a customer that has to struggle to buy your products. This will only stress you out because you have to explain to them why they need to part with the money they don't really have to get your product.
And that's not what you want as a business owner.

2. Recently: How recently a person purchased your product, a similar product or a competitor's product can determine if the person is a good fit for your business or not. Afterall, someone that purchased a product two weeks ago is a better customer than another person that purchased that same product about 11 years ago.

3. Frequency: How often a person uses a product is also a factor you need to consider. A person that uses our product frequently is a much better customer than someone that really uses that same product.

So we have talked about the factors that need to be considered before identifying your target audience. So let's start with the steps you need to take to identify your target audience.

1. Answer these two important questions:
*Which problem is my product solving?
*Who will benefit from the Solutions of my product?

The answers to these questions will determine if you have created the right product or not.
The first question should be about two to three sentences long. While the answer to the second question should be straight forward if you have answered the first question honestly and correctly.

But, if you are not able to come up with an answer especially for the first question you may need to go back and redesign or change your product completely. Because it means you don't know the problem you're trying to solve. And if you don't know why you created a product there is no way you'll be able to convince someone else to buy the product.
When you're done answering the two questions you can then move to the next step.

2. Define your buyer persona: Your buyer persona should include the demographic, geographic and psychographic details of your ideal customers.

The demographic details should include age, income level, location, nationality, marital status, and gender. While the psychographic details should include their interests, behaviours, habits, and values.

The reason for this step is because you want to understand how your ideal customers are. You want to know where they are, where they spend their time, how they think, what their goals are, what their pains are the challenges they are facing, their values and everything every other thing possible.

Having a clear understanding of who your ideal customer is will help you always deliver the right marketing messages that will resonate with them.

3. Look for them: When you're done with step 1 and 2 the next thing for you to do is to use the information you have gathered to fetch out your target audience.

This step can be carried out in two ways depending on whether you are just starting your business or not.

If you have been in business you will definitely have the details of your past clients and customers. So, just go through your sales record, CRM software, customer service records and any other place where you keep client details.

But if you're just starting your business your approach will be different.
Since you don't have any record you will need to go out there and talk to people. Have a conversation with them.
Tell them about your products. Tell them the value of the product. Talk about how it is solving a problem for them. Listen to their feedback. Ask them questions. Learn what their challenges are and find out how you can solve the problem.
If after having this conversation with them you realise that your product is not what they need, this is the time for you to go back and tweak your product to suit their needs. Because the last thing you want to do is to go to the market with a product that nobody wants. You will only be setting yourself up for failure.

If after going through these three steps you find out that your target audience is quite small, do not worry. Instead, focus your attention and resources on them because they have the bulk of your money and you need to get it from them.


Anyway, I am a digital marketing strategist and business coach. I help small business owners find clarity in their business & make sales online. If you are trying to start a business and don't know how to go about it, stuck in your business, want to make sales or just generally finding things difficult in your business, reach out to me. I can help,
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