If you are in business, you have undoubtedly heard about identifying your target audience. As you develop your marketing plan, you will learn about the demographics, including age, education level, and socioeconomic status, of your prospective customers. These factors are used in the development of your plan. Defining your audience has several benefits.

Teaches You About Your Competitors

As you develop your target market, you will identify how your competitors are appealing to your current and prospective customers. This should encourage you to fully research your competitors. As you compare your products, find ways that your product differs from or is superior to your competitors. You may also get ideas for future innovations. Market your products’ unique features to your audience. How is it better than your competitors’ products? This will help you reveal the value of your product over your competitors and narrow your marketing focus.

Gives You a Direction for Your Digital Strategy

Did you know that up to 81% of prospective buyers research products online before making a purchase? A digital marketing strategy focuses on building relationships with your audience, so you learn how they search online, what they are looking for, and what marketing or content appeals to them. Then, you can use their keywords to develop high-quality, informative content they may be searching for. In addition, you will learn how they use social media, including what channels they use most often, and how they respond to email marketing and mobile apps. Then, you can follow their trends and create appealing digital content and ads that build trust and loyalty.

Saves You Time and Money

If you define your ideal client, you can cater your advertising to appeal to that type of client. For example, you would not market to someone aged 8 to 14 years the same way you would market to someone aged 30 to 45 years. Nor would you market to a single person the same way you would market to someone who is married with a family. As people experience different events in their lives, their tastes and ideas adapt and change. Those with different income levels also have different priorities. Whereas someone making six figures may be open to purchasing a $100,000 vehicle, someone making $20,000 per year may only be able to purchase a used vehicle for less than $5,000.

As you develop your target market, you learn what motivates them, the type of advertising they are attracted to, and the types of products they purchase. Identifying your target market helps you focus your advertising on the consumers who would be interested in and can afford to purchase your products. Because your advertising is targeted, your is marketing more efficient and effective.

Identifying your target audience is a vital step in your marketing planning. Not only will you save time and money as you market to a select group of people, but you will also learn about your competitors and create an effective digital marketing strategy.