Many people cannot differentiate target market and target audience; some actually use both words interchangeably. But there are huge differences between these two terms but basically, the practical implications each of these terms has on the marketing function is what differentiate them.
A target market is a very specific and well-defined segment of customers that a company intends to sell their brand or services, but the target audience is a little narrower; it’s a staged process that begins with the selection of a sector of a target market. To properly target your audience; you will require a detailed media plan, which may include many other factors.
Identifying your target audience
Ask yourself ‘ who is my ideal customer? What do they need? , when do they need it? What is it that they don’t want?’ Asking yourself such question will help you create a fiction persona about your target customer. The clearer your fictional persona is, the easier it will be to find your target audience on social Medias and other platforms.
Determine your audience size
When you have a good sense of what your audience needs or look like, then it would be easier to use social media ads to estimate the size of the audience. Facebook, for instance, has an ads manager that help determine the size of your particular audience. Determining your audience size is vital because it tells you whether you need to change your offering or not. If for instance, your audience is small, you will need to know how to change our offering to expand the audience, if it’s too large, then you will need to target a narrower niche.
Get to know your audience online behavior
It’s important to understand your target audience based on their online behavior. Start with your website, learn what brings your audience to your site, and focus on helping them find what they want or need as quickly as possible, then entice them to come back to your site. You use Google analytics to identify some information about your existing customers and use them to create contents that are beneficial. Some social media platforms collect most of the information about your audience, so it would be better to use them to know how to best market your brand. There are many sites out there that you can use to identify the breakdown on where your audiences spend most of their time online.
Connect with your audience
Once you get all the information about your target audience, use it to connect on social media and other digital platforms. Try to figure out how your current audiences align with your target audience. All this information can help understand when, where and how you will best target your audience.
Getting to know your target audience in depth will take time, and creating a buyers persona, as well as trying to figure out the content to attract a new audience is not easy at all, but if you can do it, it’s a well worth practice. You will be able to improve your product development, and most importantly you will see unparalleled return.