So, you have a brand idea. You know the color scheme you want the advertising to be. The font is picked out for any print ads. You have decided where you want to market your product between print and digital media. The business plan is coming along, but who is it geared towards? What do you want to enhance in a person’s life with your business or brand? Once you answer these two questions, and a few more, you can begin to market your product to your target audience.
Target Audience Definition?
Defining who to market your product to is not as simple as it may seem. You should always focus your brand on your target audience. This is not only about the product or content your brand produces. How do you market your brand? Who do you market it to? Is this a well-thought-out strategy or a quick idea?
First, let’s back up a little bit. Before a marketing strategy can come into play you need to know to whom you are marketing. Target audience and target market are not the same thing. Target market is the group of consumers the company wants to reach. The target audience is the sub-group within the market that advertisements are directed to.
So, you designed your product around a specific demographic. Why? Because these are the lives you want to enhance with your brand. For example, a busy mother may require assistance with grocery shopping. She gets an idea that grocery delivery should be a shopping option. In conclusion, she creates a service around busy mothers that will benefit from grocery delivery.
In this example the busy mother knows the demographics of her target audience because it is people like her. Similarly, with your brand it is beneficial to know the marketing age demographics and lifestyle of your audience. Another example is, what are their hobbies?
What Are Marketing Age Demographics?
Marketing age demographics simply means presenting your product to a specific age group. Usually, these age groups are broken down as follows: 18-24, 25-34, 35-44, 45-54, 55-64, and 65 and older.
Determining the age group of your target demographic will tell you how to market to them. Gen Z age groups are more likely to use social media than a demographic that is 65 and older. Similarly, people 65 and older are more likely to watch cable television and see a product they use on a commercial.
How Does This Fit Together?
Now, we will analyze how defining a target audience and marketing age demographics tie into each other. First, analyze what you offer. What problems does your product solve? Does your content enhance the mind of your readers? In relation to the busy mother example, the grocery delivery service saves time.
The service is geared towards those with busier lifestyles that need assistance. The market is likely households with median to higher income, with or without children, and responsibilities that require as much time as a grocery trip. The audience is busy mothers.
Second, conduct market research into competitor analysis and ways to expand your consumer base. Look up businesses that produce the same product as you. See how customers in your area spend on other businesses. Note the demographic information of these customers (i.e. household size, income, or education level). Surveys and focus groups are great ways to understand the needs of the current consumers. Data collected will assist you in knowing how to market to your target audience.
Lastly, observe your competitors. Consider how they market their products. Consider what they charge consumers and go in-depth. For example, if your product is a service provided do competitors allow tips for third-party assistance or only a salary?
Please note that if you are in a smaller market, it is wise to consider a different audience. Without significant advantage over competitors your product may have a hard time establishing a consumer base.
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At V12 Strategies we are standing by to help you maximize your marketing strategy. Call us today at (918) 863-5856 or email firstname.lastname@example.org to discuss your audience!