To learn how to focus your marketing efforts to target audiences you need to grasp the difference between the target audience and target market. Even though these two terms sometimes overlap, understanding their difference is crucial for setting the marketing strategy straight. Once that is clear, it will be a lot easier to follow the steps to successful target marketing.
So, What IS The Difference Between The Target Market and Target Audience?
To answer that question, we need to define the target market and target audience first.
A target market is a specific group of people you wish to serve with your product or service. It implies that to sell your product, you need to know which specific group will benefit from it the most. A target market thus includes your future consumers. A target audience is a group of people who are most likely to positively answer your brand’s marketing message.
The target audience may be your end-users but not necessarily. For example, if you’re advertising biodegradable diapers your target market will be babies and toddlers but your target audience will be their parents. Because, well, babies don’t have buying power.
Most of the time, a target market is the same group of people as a target audience. The biggest and the most important difference between the two is related to the impacts they have on your brand. A target market influences all your business decisions related to the product, while a target audience affects only those related to a particular marketing message.
Directing Marketing Efforts
It is quite logical: to strike the commercial bulls-eye you need to focus your marketing aim as accurately as possible. There’s no point in targeting everybody at once because you are highly likely to miss all the marks. Furthermore, you will waste valuable resources. This is why you need to develop a strategy called target marketing and focus your limited energy and resources to reach out to a very specific audience in a specific market. That is where your buyers are.
How to Focus Your Marketing Efforts to Target Audiences?
To have any chance at reaching your target audience you need to identify it, which comes after identifying your target market. For example, certain companies are implementing specialized SEO efforts for movers and improving the likelihood that their clients will find them. They are doing it by creating quality content, optimizing it for the keywords movers’ clients search for. They are targeting the specific needs and interests of people about to relocate, offering quality packing and moving tips.
By focusing your marketing efforts to a specific group you are not excluding others; you are simply directing your marketing budget and resources to a group that is most likely to buy your product or service.
Focusing depends on detailed market segmentation
You need to split the market into smaller parts that would more closely describe your ideal buyer. Types of market segmentation you should concentrate on are demographic, psychographic, behavioral, and geographic. In the end, you should have a clear description of your perfect customer showing buyer’s gender, age range, place of living, income level and lifestyle.
Features vs. Benefits
It is not enough to describe what your product is. You need to present why it is good to have and be convincing about it. Your product features are obvious to all and do not separate you from the competition. However, the benefits your product (or service) brings to the user are crucial and will eventually sell it. Once you identify your target audience, you should be able to answer the most important questions. Which issue you are solving for them with your product and which one of their needs you’re meeting.
Get help from social media
Social media are a great asset when it comes to connecting with your potential buyers and learning about their habits and needs. Furthermore, specific target audiences use specific social media to express their views, likes, and dislikes. Learning which groups prefer specific platforms will help you develop a more focused marketing strategy.
Gather data on your users and employ analytics
Analytics platforms are vital when it comes to gathering information for target marketing purposes. They can give you insight into the interests of your potential buyers you can use to make your marketing campaign more specific.
Gather data on your rivals
You will find competition in every niche which is why you need to get to know how and to whom they address their marketing efforts. By performing research of your competition on social media, you will get a sense of direction they’re taking. You can use research results to determine their target audience and position yourself better.
Additionally, you can use the information to make your marketing message even more specific and speak to the same target audience. By focusing more directly on their wants, you will distinguish your business from your rivals.
Stay on track
It may easily happen that your target audience will change over time. You will easily notice that moment once your sale starts to drop. It is simply a sign that your target audience doesn’t fit the same market segment as before. Even if your target audience stays the same, your product or service may have evolved. Either way, you will need to readjust market segmentation for your product.
The ultimate goal is to sell your products or services. However, not selling or not selling enough may not mean that your product is not needed. You have likely advertised it to the wrong part of the populace. In other words, you didn’t focus your marketing efforts adequately. It happens if you haven’t accurately defined your target market and target audience in the beginning. Or if you haven’t tested the product with smaller groups. On the other hand, if you do it properly, your product or service will sell itself.
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