For marketing to be effective it needs to reach the right audience with the right message. Defining the appropriate audience for your products or services requires a few steps that allow you to create a personality profile of your most likely customers so you can target your communication efforts.
Steps for defining your target market include:
- Review your existing customer base – Identify who is presently buying from you and why. Next, evaluate their similarities including factors such as age, location, economic and education level and gender. Also segment this information into groups based on frequency of purchasing and size of purchases. These profiles will provide an understanding of who are most likely to become future customers.
- Create a list of benefits your products or services provide and whose needs align with these benefits. Understanding the specific needs your products or services fill will help you identify those most likely to become customers.
- Define personal characteristics of the person most likely to buy from you. Psychographics is the process of defining consumer lifestyle habits and can be used to understand how your products or services fit their wants and needs. Characteristics such as attitudes, values, personality and main interests can be utilized to identify where they most likely receive information and what features or benefits are most appealing to them, which will allow you to focus on media choices and messaging platforms to align with them.