In business identifying your target audience is one of the fundamental focuses you should have as far as the success and growth of your business is concerned in Nigeria.
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Some businesses have failed in the past due to the fact that they have failed to figure out who their target audience is, while some marketers have mistaken the target market with the target audience. Whatever, the case might be engaging with your audience is essential for connecting with your target market.
There are so many brands at the moment in the market that are really competing in the market and the need for strategy cannot be overemphasized. With your strategy in place, you would be able to be singled out from your competitors.
However, your target market is a group of customers to which your business has decided to aim its marketing efforts and ultimately its products. The target market groups the users who are likely to purchase the product, service and tools by location, age, ethnicity etc.
Meanwhile, your target audience is totally different from your target market. Your target markets are the users you want to share your brand’s messages and products to engage with other influences in their space.
Identifying your target market
The best way you can actually serve and advertise directly to your real customers is by taking a bold step in identifying your business’s target market.
It requires you to answer some critical questions such as the following:
• What is it that you sell or what makes your commodities different from what people can buy from other big outlets?
• Who are the people that you sell your commodities?
• Why should you be patronized or why should people buy from you or your service?
• Are you open very late at night so that customers who work long hours can drop by your store?
In response to the aforementioned, you should do the following two things:
• You should always focus on your primary market: Many business owners fall into the trap of believing that their products or services are “for everyone”— that is, anyone would be interested in or need the products.
But even if your business appeals to a broad market of diverse consumers, you need to identify who your ideal consumer is. After you’ve identified your primary market, your advertising should match that focus.
• Research your market: One thing is certain, there is no way you would appeal to the emotions of your target audience if you are targeting the wrong set of people. Knowing your target audience is critical and it involves researching your market.
Do everything within your auspice to gather relevant information about the people you really want to sell to. The research could take place in several forms such as:
• Demographics: Demographics encompass the study of the size, structure, and distribution of these populations, and spatial or temporal changes in them in response to time, birth, migration, ageing, and death.
If you oversee the advertising for a new business, you can start by checking out some basic demographic information. The best research comes from primary sources — in other words, you should call around for information.
• Publications: You may also be able to find information in publications, which may track demographics, sales information, trends in your industry, and other useful consumer information.
• Prospective customers: Conduct an informal poll by asking potential customers — especially those you’ve identified as your target audience, what they’re looking for those other businesses don’t provide.
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