For every large and small enterprise, the determination of their target audience is essential. Every strategy related to lead generation, marketing, social media, etc. depends on a business’s target audience.
In this post, we will include a list of ways to help you find the right target audience for your online business.
However, before we begin with the first one, let’s understand how your business will grow when you start targeting the right audience.
Why does it matter?
As a customer, would you invest in a product that is of no use to you? Probably not, because buying something that you will not use is not considered a profitable investment.
Similarly, if your brand starts targeting the audience with no use of purchasing your product, your annual profit would incur a significant loss.
Moreover, if a business is unaware of the audience it plans to target, it will become hard to operate that business; this is because (as mentioned above) the base of everything from manufacturing to strategizing is the target audience.
How to Determine The Right Target Audience for Your Business?
Monitor ‘Audience’ In Google Analytics
Google Analytics is the one-stop destination for every business which seeks valuable and actionable data about their website. If you are trying to decide who your right target audience is, you must start monitoring the ‘Audience’ section in Google Analytics.
The ‘Audience’ section includes information about the age, gender, location, and language of every visitor to your domain. The GA data can help you in identifying your target audience.
To narrow down the target market even further, you should analyze the GA data on the bases of separate sub-domains (under Behaviour).
Get Audience Insights from Social Media
“Social media is like another Google Analytics,” say experts from the top social media marketing company. It also has ample knowledge about your audience. That data is limited to your social media audience only.
You can study your audience from ‘insights’ of several social media handles. You have Facebook Insights, Twitter Insights, etc.; this data will help you know about your target market and how to run Social Media ads that generate impressive ROI (Return On Investment).
Analyzing Your Competitors
It is hard to develop a new product, so by studying your competitors, you can identify the potential audience you can target; this is because your competitors are selling the same products as yours.
You can find out about your competitors’ target market by thoroughly analyzing their website, advertisements, and subscribing to their email to get more insights.
In addition to that, if you start looking at how they approach their target market, you can improve your strategies accordingly. Based on the data, you can optimize your Shopify eCommerce website too. But make sure you only hire professional Shopify developers.
Interact with Your Users
With Google Analytics and Social Media Insights, you can get precise information about your audience. But to understand them and what they need or the type of content they like, it is necessary to engage with them.
You can interact with your audience through comments and participate in discussions on social media. Or you can gain knowledge about them through focus groups and personal interviews.
In this process, you need to show the audience your products and get their feedback on the same. By doing this, you can capture first-hand information about your target market.
Create Customer Personas
Your next step of understanding your target market is by creating their customer personas. The data collected from interviews, surveys and the focus group can help you generate customer personas conveniently.
Here they are – 5 ways to determine the right target audience for your business. Read them up, and use them into formulating better marketing strategies.
Hopefully, this was helpful!