Targeting the right audience for your business
OCTOBER 17, 2023
In today’s highly competitive business world, targeting the right audience is the key to unlocking higher conversion rates for your business. And to be the most effective, you also need to connect with your target audience on a personal level.
The value proposition
The first thing you need to know is your businesses’ value proposition. What makes your business unique? What do you offer customers that your competitor’s don’t? Your value proposition is your competitive advantage. It’s why someone should use your business over others. Shopify outlines some great examples you can review for inspiration.
Using data to determine your audience
Data is your compass in navigating how to target your audience. Leveraging data gathered about your target audience allows you to understand your consumer and pursue strategies to increase your customers. You can look at what information your customer is looking for on your website, see what social media platforms are most popular for your audience, look at their online shopping behaviors and more. When you know your target audience, you won’t waste time and money marketing to those outside of your desired customers, but spend your advertising budget on the most profitable customers most likely to purchase your product or service. According to the Pragmatic Institute, there are 4 benefits to data-driven decision making. They are:
Increasing revenue
Reducing costs
Creating new opportunities
Enhancing the customer experience
Creating tailored content messaging
Once you know your audience, you can craft content messaging tailored to their needs. The more personalized your message to your audience, the stronger the connection you will build between these customers and your brand, product or service. As you read in our previous blog, compelling content allows you to stand out from your competition. Clean, simple messages which resonate with your audience is a must. And make sure you include a call to action whether it is to go to your website, fill out a contact form, or call you. Be sure to offer several contact options so potential customers can use their preferred form of contact to engage with you.
Choosing the right communication channels
Knowing your audience and tailoring your messaging to gain a loyal customer is only the beginning. Choosing the right communication channels are also crucial to converting your audience into customers. A one-size-fits-all strategy could be detrimental to your business. You should also use the communication channels which stretch your budget dollars and give you the most impact no matter the size of your budget. According to Forbes, investing a large part of your marketing in advertising is worthwhile as long as it is in the right communication channels and directed at your desired target market.
According to Forbes, investing a large part of your marketing in advertising is worthwhile as long as it is in the right communication channels and directed at your desired target market.
Tracking and analyzing
Now that you’ve got the right messages to the right audience, you’ll want to track and analyze how well your efforts are converting your audience into customers, also known as conversion metrics, throughout the advertising campaign. This allows you to make changes along the way, optimizing your segments, messages and channels and helps gauge your advertising campaign’s success. From this you can learn what worked well, how your audience responded, and review the effectiveness of your strategy in increasing your customers, revenue and profit. From there you can make additional changes for even greater effectiveness
Your evolving audience
One last thing. Keep in mind audience preferences continue to evolve. Audiences are not static as they are constantly influenced by social, economic and cultural factors. How do you keep up with this with your advertising? It’s through data and research. There are industry publications and websites you can monitor. You can use online tools like surveys, polls, quizzes, and forms to help you collect information directly from your customers which provide valuable feedback and insights.
The path to increasing your customers and profits begins with targeting the right audience. By understanding your unique value proposition, developing the right message for the right channels, and leveraging data, your business can thrive in today’s competitive landscape.
If you’re looking for guidance on how to find and target your audience, let us know. Our advertising team can help you not only find your audience, but convert them to customers.
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