When you’re starting your marketing journey you will be tempted to focus on increasing your website traffic. However, with time you will realize that you need to focus on a targeted audience as well. Let me explain it to you with an example.
Hubspot had roughly 88.83 million visitors in 2020. Many websites have more than 3 million visitors but their revenue generation is not even close to Hubspot. One may wonder why is that so?
The answer is a generalization. Website traffic is not the only parameter to achieve digital success. In this article we will talk about how identifying the target audience for your business is essential to generate higher revenue. We will break down this article into smaller parts which are as follows:
-What is a target audience?
-Benefits of identifying your target audience
-How to identify your target audience correctly?
-How to create customized content for your audience?
What is a target audience?
A target audience is a specific group of people you wish to reach through your marketing campaign. Your marketing actions are directed to this group to increase your brand awareness.
Simply explained, your target audience can be grouped based on common goals, interests, education, age group, gender, etc.
Your target audience will depend upon what goods and services you sell. For instance, if you are a shoe vendor your target audience will be men, women, and children. However, if you are a bridal show designer, your audience will be women of the age group 20-35 years. Therefore, segmenting your audience is very crucial to attract the right kind of audience for your company. The ones who will generate revenue and increase your conversion rates.
If you do not make efforts to identify your target audience. You will increase your website traffic however, you will scratch your head wondering why nobody is buying from you.
Benefits of identifying your target audience
Understanding your audience’s needs is vital. Segmenting your audience will define your marketing plan and strategies. Displaying your ad on Times Square will surely gain a lot of viewer’s attention. This would be very expensive and it does not guarantee that people will buy your product. Selecting the right media channel for advertising your campaign is crucial.
Identifying your target audience also builds relationships and trust between the two parties. You can develop content that speaks to your audience and draws their attention. This will increase revenue and conversion rates.
How to identify your target audience correctly?
Your target audience may vary according to the demographics, such as women in their 20’s, grandparents, athletes, people living in NYC, dog owners, mothers, etc.
How do you find your audience? How to define your target audience?
Begin with identifying who is at the receiving end of your marketing campaign. Once you have determined that, begin researching your audience. You will be tempted to reach out to as many people as you can. However, that approach would require higher efforts, time, and cost.
Targeting high-value audiences will yield a higher return on investment (ROI). How do you attract the right kind of audience for your digital success? You can adjust your marketing campaign in such a way that it attracts only a specific group of people.
Next, I will talk about what questions we should ask ourselves to identify the right kind of audience for our brand.
- Who are they?
Ask this question to get to know who your target audience is and how they relate to your brand. One way to find out who is responding well to your social media posts based on their likes, shares, or comments. If someone engaged with your brand there are high chances that they are your potential audience. Even if a customer buys once from you, they are your potential audience because there are chances that they might buy again. Retaining customers after gaining them with your goods and service is a good indication of digital success.
- How is your product benefiting them?
Shift your focus from just selling your product to relieving your audience’s problem. Humans strive to make their life more easier and comfortable. How is your brand different from others? What is unique about your company and services? These are the questions you should ponder upon.
- Where do they find information?
There are several channels available today from where we obtain information. Identify which channels your audience use mainly to get information. It can be through social media, emails, blogs, etc. Use these channels to market your campaign.
How to create customized content for your audience
The secret to creating awesome content is to personalize it for your viewers. Generic content will surely increase traffic but personalized content will gain more customers. Your content can enable your audience to do these four things- Create awareness, interest, decision, or action.
Visitors who simply view your content increase your brand awareness. People who are engaging with you via likes, comments, or shares develop an interest in your brand. A visitor who wishes to solve a problem will decide whether to buy your product or not. Ultimately, this leads to the final step of ‘action’ taken by the customer.
Lastly, I would like to conclude by saying that identifying your target audience is one aspect of digital marketing. You need to keep creating amazing and engaging content to convert your audience into loyal customers. Your customers should be satisfied and happy with your products or services. Collecting correct and relevant data will yield a higher ROI. You will be able to meet your business targets and successfully execute your marketing campaign.
