The first step in conducting a better target audience analysis is to think like your audience. That means going to the places where they hang out. Spend time in their shoes and understand their needs and wants. Afterward, you can conduct better research and create a better campaign. Here are some steps to better understand your target audience. You might be surprised by how much you learn. You can apply these steps to any market research.
Identifying your target audience
One of the most important elements of successful marketing is understanding your target audience in Canada or wherever else you are marketing your products. By defining the characteristics of this group, you can better align your marketing efforts with their desires and maximize your ROI. Knowing who you’re trying to reach will allow you to identify the best ways to engage them and move them toward action. For example, if you’re aiming to reach couples, your social ads should focus on the type of activities they are most likely to enjoy.
Understand the features and benefits of your product
Once you’ve determined your target audience, the next step is to understand the features and benefits of your product. A feature is a product’s characteristic, while a benefit is a benefit that a customer will experience after buying the product. For example, a car might have anti-lock brakes, whereas a benefit is a safety. It’s not just the price, but the features of a product that make it desirable to potential customers may be more attractive to them.
Identifying their psychographics
Identifying your target audience’s psychographics is essential to understanding your target market. Unlike demographics, psychographics focus on the subjective attributes that make people tick. Demographic factors include age, income, marital status, and place of residence. By contrast, psychographic factors focus on their values, interests, hobbies, and behavior. Knowing what to look for in your target audience is only the first step.
Knowing your audience’s psychographics will help you determine their buying habits, and you can use this information to develop your brand identity. For example, you can target twenty-something working mothers with a monthly income of four to five thousand dollars. You can also target retirees, frazzled new parents, and pot-plant-obsessed twentysomethings. When you know your target audience, you can segment them according to their interests and buying habits.