How Do I Analyse My Target Audience?
Why bother analysing your target audience? Well, think of it this way. You’ve grown up with your parents since young, so you know what they like. Mom loves the outdoors, but Dad prefers to stay at home. When it comes to the holidays, Dad prefers the cold, cozy and chilly weather whereas your mom loves the warmth of the sun on the beach. Different people have different tastes!
Well, it goes the same way with your audience. Each business has specific target audiences to cater to with their own preferences. Like how your parents take care of you when you were younger, your audience keeps your business afloat too. Understanding how to cater to them will teach you what things you should be sharing online to develop their interest in you further.
So, how do we analyse our audience? Here are three easy steps to act as a stepping stone to get ahead your competitors.
Find and Define the Right Target Audience
Firstly, how can you cater to the right audience when you don’t know who the right audience is?
Audiences of a business normally have many similarities, be it age group, income, or even something as simple as interests. Apple and Samsung know they cater to people who are fans of getting the latest technology updates, banks understand that they are catering to people who worry over their financial security and cafes know that they cater to students and office workers. The same works with your business, you should know who you cater to.
Who goes to you for your services? What are the similarities between the different people that shop for your products? Understanding the correlation between your different shoppers will give you a better grasp of how to better cater to them, but this is only the first step.
Understand Their Purchasing Behaviour
So you’ve identified them, now figure out why they purchase from you and what their purchasing behaviour is like. This is the deeper, more insightful section of target analysis which focuses on behaviours such as what they do, their lifestyle and how they make decisions.
Are they purchasing for you to fulfil the needs they have? What ARE their needs? What is their motive when they shop from your store? There are many ways to figure this out, such as having cracking up conversations with them or analysing their social media (Facebook and Instagram).
Many big corporations, however, use Artificial Intelligence (AI) to gather information about their audience. Corporations such as Amazon and Netflix use AI to understand their audience better, to fit certain products to certain people, catering to them. The barrier of entry to leverage on AI can be high for small businesses, but it’s not the only way to analyse customer data. Instead, looking at your sales figures, talking to your existing customers and understanding your customers’ demographics are great ways to start.
You’ve done your research; you know who your audience is and you know why they come to you. What’s the next step?
Connect With The Audience
Develop a personal bond with them!
This is as simple as saying, “Hello, how was your day?” while they look through what your store has to offer. Building that special bond with your audience gives your business a personal touch, which easily makes them favour you more than corporations that don’t show care and concern for their audience.
Developing that special bond also makes it feel much better to them when you help satisfy their needs. Shopping for groceries at supermarkets feel like a chore to most people, but when they pop down to the friendly old convenience store, it makes the experience so much better.
With all that information, it’s time to put it to good use. You understood who your target audience is, and you’re developing a personal bond with the audience you currently have. The next step is to figure out how you can attract more of that audience pool. Facebook offers social marketing ads to target audiences with effective spending, and other various methods exist out there. How do you aim to grow your list of customers?
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