To win new customers, it is very important to understand the people who may be interested in your products and whom you want to deal with.
Having an enterprise or business makes several assessments necessary, including market analysis and competitive analysis, in order to efficiently plan business strategies.
Typically, this type of data research and its study is entrusted to amarket research agency, and included within these processes is another very important analysis in order to be able to define the moves you are going to make as you go: that of the target audience.
In this article we will find out what it is, why it is important, and what is the right way to identify your target audience.
What is target analysis and what is it for.
When you find yourself needing to plan business strategies, it behooves you to conduct market research and careful competitor analysis to understand the evolving trends and needs of people.
But the first useful filter is to differentiate the target audience that you are interested in from those that you are not interested in and/or are not interested in your product or service.
Choosing your target audience allows you to do a detailed analysis of what are the new trends in your industry and what people are looking for in companies like yours.
In light of this, you will then be able to have a clear picture and chart a course toward your growth goals.
The target groups are endless and of course their catchment area is not always the same, but varies according to what you offer and what people are looking for.
To give examples of target audience, we could assume that you sell pet care products. In this case, it is clear that your target audience will include all people who have a pet. At this point you will need to understand what all these people are looking for.
But what if instead you wanted to specialize your company exclusively in the production and sale of high-quality, natural-ingredient pet care products?
At this point it is unlikely that your target definition is the same. You’re going to research a smaller circle of hypothetical clients, relying on additional selective criteria so you can figure out how to break through and win them over.
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So it is crucial to be clear in your mind about the type of customer you would like to deal with, picture him vividly and try to empathize with him to hypothesize what his way of thinking is.
Having already an initial idea you will then have to substantiate it through the study of data.
How target analysis is carried out.
By the study of data we mean, of course, the acquisition of real accounts not limited to the expectations you have in your head.
You have imagined the portrait of your client, but now you have to uncover the canvas and compare it with the real-life client.
A good way to analyze the target audience might be to compare yourself with your former customers-perhaps by submitting a small questionnaire-to understand their degree of satisfaction with your products or services, how they would like them to be different and possibly improved, etc.
It is important to give people a way to express themselves without constraints to see if your ideas are aligned with theirs and to be sure that you have seen eye to eye and speak the same language as them.
Cross-referencing your expectations with real data is extraordinarily important in defining your target audience and the right communication strategy to adopt in order to win the trust of new customers, and this is where big data comes in handy.
Through tools such as Google Analytics you are able to monitor everything that happens on your business sites and blogs.
Data such as the age and gender of those who visit your pages, the time they spend there, and the identification of the most visited pages can give you an idea of what your ideal Buyer Persona is, and social media in this is another faithful ally.
Throughtarget analytics on social media such as Instagram, Facebook, Linkedin, you have the opportunity to avail yourself of additional data and information about people, such as their interests, passions, the way they interact and perform online searches.
In short, beyond the numbers, it is very important to structure your target audience analysis around the emotional aspect, because that is what you are going to build your communication with the people you want to make your customers on.
The more you are aligned with them in this regard, the more likely this will happen.
So, are you ready to set out to conquer your new customers?
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Target analysis: CMI can help you expand your sales and acquisition processes.
For us at Central Marketing Intelligence, data analysis in general-and therefore also target audience analysis-is bread and butter. In fact, our company has been involved in research and data analysis for years to define goals and strategies for various business entities.
Over the years, we have worked with TV networks, news outlets, and major companies, helping them build winning strategies through data studies.
If you need to redefine your target audience and want to understand how to increase your revenue with the support of big data, please do not hesitate to contact us.
We are ready to accept this new challenge!
In the meantime, we provide you with a tool we designed that will be helpful in understanding what your level of knowledge is about your current business. Take advantage of it and fill out our Data Strategy Check-Up!
