Updated: Oct 19, 2019
A definition and explanation of Target Market and Why You Need to Know Yours.
Do you know who your typical customers are?
Do you know where they shop?
How much money do they make in a year?
How many kids they have? As a whole, all these things may not seem important to you compared to the product you sell, but they are important characteristics for your customers and how they make their purchasing decisions. Having a well-defined persona can help you build a better marketing plan in the long run and help you target your marketing campaigns and offers to the right groups of prospective consumers. At the end of the day, personas put a face to your customer and help you identify their needs and wants. Knowing persona characteristics can be invaluable to your company as you develop your marketing campaigns and products over time. If you are having trouble reaching your customers in a way that is valuable to your company, you might consider doing some research and building some personas.
Here are six core benefits to why establishing well-defined personas is a good idea for you and your customers. Why this is SO important and what you will gain from knowing your audience!!
1. An Understanding of Customer Needs/Interests: When you're trying to buy the perfect gift for your mother, spouse, or friend, you can easily see them in your head as you shop. You can imagine their needs and wants, the things they'd love, the things they'd be interested in, and all the things they hate. Customer personas work in the same way. They allow you to better understand the needs and wants of your customer base. How to Use It: By knowing the problems your customers face, you can cater your marketing to your audience in a way that they'll find valuable. Use these insights into your customers' needs and wants to identify the topics your prospects want to learn more about (blog), and create content (social media posts, ads) around those topics. 2. Knowledge of Where Customers Spend Time: Once you know the background of each of your personas, this insight will help you gain a better understanding of where your customers spend their time online, where they go to get their information, and which social networks they typically use to connect with family, friends, and co-workers. How to Use It: Knowing this information will allow you to better target your marketing and advertise in the places your prospects are most likely to see it. If one of your personas tends to spend more time on Facebook compared to another, who prefers email, you'll know which type of content needs to be in each place. The prospects you want to reach are more likely to react to the content that interests them if it's found in the channels they already populate. 3. Better Quality Leads: So far, your personas have helped you to identify what interests them, which content topics they prefer, and where to find them. What does that all mean exactly? It means you are going to be able to better cater your marketing to the right people in the right places, all which gives you the powerful opportunity to generate better quality leads. How to Use It: Use the info you collect about your prospects to help you make a personal connection through email marketing and be better able to direct your messages in a more personalized way. This will also allow you to build better lead nurturing programs targeted at different personas and improve lead quality for you company, which in turn means better customers!
4. Better Product Development: Not only do personas allow you to generate better quality leads and customers, but they also help you work with your customers and build future products/product features to suit their needs. With well-developed personas, you can create products and services that are more closely aligned to what your customers want, allowing you to better cater to their needs. You'll be more likely to keep customers for the long haul if your products and services grow and change with your customers. How to Use It: Use the information you gather about your different marketing personas to inform and make recommendations to your product development team so you can create killer products that appeal to your customers.
What are Target Audiences?
A target market is a simple summary of basic demographic information about your buyers.
Who will LOVE your PRODUCT or SERVICE An example of a target audience for a home designer might look like this:
Occupation: Business Owner Age: 25-50 years old
Gender: Woman Annual Income: $60,000-100,0000 Location: London, ON You may have just one target audience, or a couple. They provide an overview, a big-picture look at who you’re targeting. What are Buyer Personas?
Your perfect client ( but pretend…)
In contrast, buyer personas are much more zoomed-in portraits. They represent typical individual buyers, customers, or users. You use them to learn your customers’ buying process and how your marketing should address each of these types of customer. Each persona has detailed sections that provide deep insight into your customers’ minds.
Sections typically featured in a buyer persona include: A buyer persona is a profile of a specific type of client, and may look something like this.
Level of education
Social networks used
Whom they report to
How/where they get information
Tools they need to be successful
You can tweak this to represent your market more accurately for instance here is an example of a persona for a Craft/Artisan business ( remember you can have more than one)
Name - Teacher Trish
Age : 45
Level of education: College
Social networks used: Pinterest, Facebook
Job responsibilities: Teaching students
How/where they get information: online, magazines, other women suggesting stores/shops
Hobbies/ Interests: working out, home decor, being somewhat crafty
Shopping habits: hates malls, loves vendor/craft shows
You can go on and on gathering information.
The best way to do this is to interview current clients/customers or people you think already fit your target audience.
Questions to ask ( the more you know the better you can market to them!!)
Personal Background How old are you? Tell us about your family life. What city do you live in? Work in? What is your educational background? What do you like to do in your free time?
Industry and Business What industry is your business in? What is the size of your company? What are the most common challenges in your industry? What are the most common objections to your product or service?
Role What is your job title? What are your responsibilities? What is a typical workday like for you? How many years of experience do you have? What is your professional background? How do you measure success in your position? What specialized skills or tools are required in your position? To whom do you report? Who reports to you? What frustrates you the most about your job? What do you enjoy most?
Goals What are the goals you're trying to achieve? Why are these goals important? What steps are you taking to achieve these goals?
Challenges What are the biggest challenges that prevent you from achieving these goals? What have you done in the past to conquer these challenges? Did it work? If it didn't, what would you do differently next time?
Decision Making Who is involved in the buying process for products or services like ours? Who do you consult with and trust for advice and information? Objections What are your biggest complaints about our product or service? What must happen for you to overcome these complaints?
Information Sources What publications, blogs or social media networks do you pay attention to? Do you belong to any social, professional or networking groups? Do you attend any industry events, conferences or trade shows? What information formats do you engage with the most? How do you do your research on new products and/or services for your business? How did you find out about our company?
I love working with women who are invested in their growth - both personal and business.
If you would like to have a quick introduction to each other to see if we are a good fit - Let’s Chat! I would be happy to help your business BLOOM!