Segmenting your audience; why and how you should target your market
Our audience, our target market, our ideal customer profile. This is Marketing 101, but it’s still something we sometimes overlook. You have a product or service, and it’s a great product or service, so you think that you should market it to everyone. Makes sense, right? Then why is your engagement so low? Why are your ads unsuccessful?
Your buyers and subscribers don't have the same backgrounds, values, concerns, and desires; so one generalized ad probably won't speak to each market segment effectively. By creating a target audience, we’re able to focus our resources, have more success with sales and subscriptions, and gain more valuable insights on your product and company.
“Content marketing isn’t just about adding more content; it’s about creating information for a target audience that has a particular purpose and intended outcome. Content drives awareness but also social interaction, customer engagement and sales.”
How do we segment?
Nowadays, we have the capabilities as companies and individuals to extend our reach globally. But just because we can, definitely does not mean you should. For example, why would your local pizza place spend all of it's money targeting an audience out of their state, or even out of the country for that matter? Their target is the local community.
Imagine a clothing company that distributes all over the US. They would probably want to flood ads for coats and winter apparel at the end of summer or early fall to a state like Maine, that faces colder winters, rather than an area like Florida.
The demographics of your target audience really changes how you market your product or service in response to your audiences age, gender, income level, etc. Let’s think of what our millennials are spending most of their money on… I’d say tattoos, experiences, and phones and tablets. One cool example was Merrel Trailscape; where they used virtual reality to market their new hiking shoes. This is an example of Experiential Marketing, which could be really effective on younger people.
Alright, and now the fun part; why does your audience want to buy your product or service? Let’s think of why millennials are spending money on experiences.
This CNBC article tells us millennials “crave recognition” and “fear missing out”. So what do we do with this information? Well, it’s up to you. But if your target audience happens to be millennials, keep their values and concerns in mind when marketing to them. You could try showing them how your product or service will help them gain some type of memorable or Instagram-worth experience.
But wait, how do we get this information? We could analyze trends of our website and see where they go. We could also just ask why are they're interested in your services. This could be the best way to get a direct, honest answer.
There are countless ways to segment your audience and it can definitely be intimidating at the start. Just think “who’s buying my product or service?”. Be as specific as you can, right down to the motive for making a purchase or subscription and start there.
If you want to chat and brainstorm some ideas, leave a message below or send us an email! Also must read: When is it okay for me to rebrand?