You have spent so much time on optimizing keywords and running ads on social media but your sales are falling flat. Have you thought about the market you have been targeting maybe is not the right audience for your business?
Let me make this clear, just because you are doing a lot more doesn’t mean you are getting a lot done. The fact that you work doesn’t mean you are doing it right. There are multiple reasons why marketing campaigns can become flops of epic proportions. Living in a world of being bombarded by online content, the more well-tailored and personalized recommendations you can create, the more likely that the content resonates with your target audience.
Trying to appeal to everyone or generalizing your message to a large audience will unlikely strike a chord with a particular segment of audience. Despite this, there are some companies choose to operate with an emphasis on volume, resulting in lost profit as well as an annoying customer experience.
Defining target audience should be the top priority in search of a truly effective marketing strategy. Brands live or die based on how well you understand your audience. The fact is no matter how fancy your message or content is, if your audience doesn’t connect with it, it’s just a waste of resource.
There are 3 things that I would like to highlight based on what I have observed that successful marketers never do when targeting their audience.
1. Targeting a market that is too broad
One of the frequently asked questions when someone hears “I’m starting a business “is” what’s your target market?”
The answer that follows is usually something like young newlyweds, sports lover, someone who owns their home.
According to businessdictionary.com,
The market for a particular item is made up of existing and potential customers who need it and have the ability and willingness to pay for it.
Oftentimes, the first thing that comes to our mind when we think of these kinds of customers is a group of people that share the same attributes. It’s true but it only scratches the surface of the subject.
Imagine for a second if you want to run a Facebook Ad targeting young newlyweds aged between 24-29, you’re looking at targeting 28,000 newlyweds in Singapore, do you have the capacity to serve all of your target audience?
It’s a big mistake that all business owners to think they have a huge target market.
Well, of course that sounds like a lot of potential customers, it means they can sell it to a large group of people. This is totally wrong. Running an ad that will put you on a lot of irrelevant ones will cost you a fortune. Guess what—most of them—nearly all of them aren’t interested in your product.
As a matter of fact, “a vague idea is not going to thrive in this ruthless business environment”.You need to be more focus on the niche so you can serve better.
2. Ignoring your buyer personas
Only knowing the demographic data, which was once the core of the companies—audience analysis is no longer sufficient to drive the results today. While these parameters are still a good starting point to target your customer but it’s better to dive deeper about the behaviours and situations surrounding the individuals willing to purchase that means focus on what are they facing.
If we are able to show our prospective customer how our products going to solve their problem, we’re much more likely to unearth the actual reasons that cause people to buy.
We all know that mapping out the ideal customer is not an easy task. It varies business from business. People who come for the product because they have their own problem to be solved. So, to get the true audience, we need to know where do they problems come from? They arise out of situations that you find yourself in. Maybe your ideal customer is millennial male hoping to start a business. If you put yourself in his situation, it’s more likely you could create an engagement strategy that specifically market to these specific personas.
3. Assuming you know your customer best
Stop assuming you know your customer best! Today customer’s demands are unpredictable, they are dynamic, smart, well-researched and unwilling to fall for the traditional sales tactic. They fully understand what they need and what solutions work best for them before coming to you.
In this digital age, the data trail that customers leave behind between digital channels is enormous and powerful. Harnessing a powerful digital tool is utter importance as it will help you to keep an eye on the “digital breadcrumbs” based on the analytics and data.
Keep in mind to appeal your target audience means understanding them both personally and by the numbers. True customer obsession is the key principle that brings Amazon become the e-commerce behemoth, with a market capitalization of more than $950 billion over the next 25 years. Simply put, staying consistent with customer interaction and audience analytics lead to well-informed marketing decisions.
Focusing on establishing an empathy with the audience you are ready to serve by feeling their pain points will help you to craft a clear offer in order to carve out your niche.
When you have strong pulse on your target audience and their needs, the tasks of marketing becomes exponentially easier. The greater you can define your target audience, the better you can engage with what they’re interested in and what their needs are .. the more successful your business will become.
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