Opening and operating an online business can be quite very exciting, but a successful online business will depend on whether you truly have reached your target audience. Online businesses that see the best results are those who take the time to correctly identify their target audience and know what motivates their audience.
Before you launch your online business, you will want to first find your target audience. Knowing who your target audience is, will ensure that your products or services are available to the right people who are actually looking for what you have to offer and convert to buyers once visiting your online store. To do that you need to start by knowing “Your Who” and “What”.
Finding your target audience in marketing is a major component in the development of your business. Without an effective internet marketing strategy that brings in customers, your internet business is just becomes a very expensive hobby. So when it comes to selling products or services online, identifying specifics like “your who and “your what” in your target market makes things much easier.
We’ve gotten this far so I’m sure you’re asking: How do you go about identifying your target market? What do you do when you have identified them? How do you know you have found the right group of people? What is Market Segmentation? Well, let’s go ahead and touch on that so you have a better understanding of target marketing.
In Order To Reach Your Target Audience In marketing, first identify your target audience using market segmentation. Part of marketing segmentation is identifying your target audience using demographics and psychographics. To do this, basic questions you will want to answer about your customers include: What is the average age of your customers? Are they primarily female or male? Where do they live? Do they live in the suburbs, out of town or maybe in the city? What is their education level? What kind of income do they make? You will also want to include in your research the following information:
What type of Lifestyle does your audience have? Is your product or services geared towards people whose lifestyle is conservative, exciting, trendy, and economical?
Your products or services are geared towards which social class: lower, middle, upper or anyone?
What is your audience’s opinion: Are they easily led or opinionated?
Are your products geared towards any activities and interests such as sports, physical fitness, shopping, books nutrition, economy?
What Attitudes or beliefs does your product or services lean towards when it comes to your audience? Is your audience environmentalist, security conscious?
Somewhere within this market segment is your ‘target market’. This is why we break down our market segments and from there we can identify which of that segment is the intended or what is our ‘target’ market group. Once you have identified the market segment its than simply a matter of choosing a ‘niche’ portion of the market segment that is most likely to be interested in what you have to offer as far as goods or services.
Knowing you have found the right target market for your product or services will be based on a few factors. This would include the trending of your market and what the current focus is that pertains to your product or service as well as your advertising or marketing approach otherwise known as your “niche”.
In my experience you will want to have your main niche marketing strategy, and then a back up niche marketing strategy. For example a test A and test B approach. This will help you determine that you have truly found your correct market. Although, if you do your research thoroughly, your test A and test B marketing niche should not be too far from each other and only some minor tweaks between each niche would be needed. This would be the fine tuning so to speak which may be needed to better target your audience just in case you may have missed a segment in one test compared to the other.