What’s a Target Market? A Guide to Audience Positioning

What is a “Target Market?”

How to conduct audience research: 7 tips

1. Compile data on your current customers

  • Age: You don’t need to get too specific here. It won’t likely make a difference whether your average customer is 24 or 27. But knowing which decade of life your customers are in, or their generation, can be very useful.
  • Location (and time zone): Where in the world do your existing customers live? In addition to understanding which geographic areas to target, this helps you figure out what hours are most important for your customer service and sales reps to be online, and when you should schedule your social ads and posts to ensure best visibility.
  • Language: Don’t assume your customers speak the same language you do. And don’t assume they speak the dominant language of their (or your) current physical location.
  • Spending power and patterns: How much money do your current customers have to spend? How do they approach purchases in your price category? Do they have specific financial concerns or preferences you need to address?
  • Interests: What do your customers like to do, besides using your products or services? What TV shows do they watch? What other businesses do they interact with?
  • Stage of life: Are your customers likely to be college students? New parents? Parents of teens? Retirees?

2. Look to website and social media analytics

3. Check out the competition

4. Be clear about the value of your product or service

5. Create a target market statement

6. Test social content on your target market

7. Revisit your audience research as needed

Download our Branding Foundations E-Book to learn the elements needed to build a solid brand foundation. CLICK HERE TO DOWNLOAD




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