How Do You Find Your Target Audience?
To identify your target audience, you must ask yourself some pointed questions about your business and brand. Who does your product or service benefit? What are your unique value propositions? Who are my competitors?
Who does your Product or Service Benefit?
Understanding who your business services are important in determining your messaging, building out advertising campaigns, and creating a targeted sales list for future business. There can be multiple targeted audiences within a company, depending on the individual product or service provided.
Oracle sells a variety of software products for a variety of industry verticals. For example, they have small business and enterprise products which can be applicable to the healthcare or construction industries. The messaging across industries may differ, even if the product is the same or similar.
What are your Unique Value Propositions?
A unique value proposition (UVP) describes the benefit of your product, service, or business altogether. A UVP can describe how your company is better than competitors, how your business is going to solve a customer’s problem, and more.
More than likely, your target audience is a group of individuals or businesses looking for a solution to the same problem. For example, businesses looking to increase their internal supply chain efficiency with look for a company that sells supply chain software. Therefore, the supply chain software company will target other companies who may benefit from their product.
Who are My Competitors?
Understanding who your competitors are is crucial in determining your target audience. Competitors with the same target audience allow you to analyze targeting strategies, campaigns and messaging across various products and services. Competitors will differing target audiences gives you the opportunity to understand who not to target across campaigns and messaging.
This can be determined in a variety of ways. A lot of large companies have a clients list, case studies, and other resources that give you insights into their targeted audience. The insights you gather allow you to strategize how to integrate messaging across all sales and marketing channels.
Another concrete way to discover your target audience is through market research. This can be conducted through surveys, by offering special prices or coupon codes to those who visit your website or brick and mortar store and providing calls to action such as filling out forms or signing up for newsletters.