Inspired by a bakery sign in Benidorm Girarkle's latest blog considers how you can go about defining your target audience by identifying and understanding your prospective customers.
Every year my family and I take a day trip into Benidorm to the water park and on route we pass the sign for 'Simply Delicious' - a bakery with its amusing tagline ‘Benidorm’s Answer to Gregg’s’. This year is got me thinking (marketing brain can’t be switched off even on holiday!), as much as marketing texts will preach about the 4P’s (Product, Price, Promotion, Place) the 5th P – People is crucial!
Yes, marketing is about offering a great product or service at the correct price and promoting it in the right places, but to ensure that your product or service reaches its intended recipients you must fully understand your audience, the market you operate in and what motivates your clients to buy from you.
Considering ‘Simply Delicious’ ….. thousands of UK tourists flock to Benidorm every year and make up over a third of all visitors to the resort. This bakery has clearly defined its audience and customised its offering. Their pasties, sausage rolls and cream teas appeal to the Brits abroad that are likely to crave a tasty reminder of home during their Spanish holiday. Their marketing efforts reflect this and set them apart from the competition. British holiday makers are the obvious intended target with the Simply Delicious signs, adverts and website written in English and their clever tagline referencing a familiar British brand synonymous with pastries.
So, back to that 5th P - rather than trying to offer all things to all people how can you go about defining your target audience, so you can effectively channel your marketing efforts and ensure your product or service reaches the right people?
Here's 5 steps to identifying and understanding your prospective customers:
1. Assess Your Offering
Start by reviewing your product or service – write a list of the features, advantages and benefits of your offering. What needs does it fulfil or what problems does it solve? Once you are clear on how your business can help people you can start to define who will need or want what you have to offer.
2. Research Your Competition
Consider your competitors – what are they offering and what is motivating people to buy from them. How are your competitors reaching their chosen audience? Is there anyone they aren’t reaching? Is there a niche market that you could serve?
3. Identify Your Prospects
Your list of potential customers is not exclusive to those who will buy from you. In addition to the buyers you should also consider the people that will influence those who will buy from you and also your brand advocates – those who may refer customers to you.
4. Understand Your Targets
Having identified your prospective customers/ targets you now need to delve a little deeper. Whilst potential customers may share similar demographics such as age range, geographic location or income level they may have altogether different lifestyles, aspirations and interests. It’s these personal qualities or psychographics of individuals that tell us more about whether our chosen audience are likely to engage with our brand. Find out what makes them tick!
5. Create ‘Buyer Personas’
Armed with your research you can start to put together your ‘Buyer Personas’. This fancy marketing term is essentially about building up profiles of your ideal customers. It’s common to have more than one profile as there can be multiple people involved in the buying process of a product or service. Think of it as writing your customer’s CV and in addition to their demographic information incorporate those shared characteristics and interests that give you a better understanding of them. Ultimately you are creating these profiles to help ensure that all your marketing efforts going forward are tailored to your prospective buyers’ needs.
Time to get Marketing!
Now you know who your buyers are and what motivates them it should make it easier to target your marketing efforts appropriately and create meaningful messages that your audience will respond to.
For more information on choosing the correct marketing channels take a look at one of Girarkle’s earlier blogs on the ‘Modern Marketing Menu’.
There are lots of tools out there to help you to research your target audience including some great free templates from Hubspot that can help you create your Buyer Personas.
As always if you'd like to find out more please give me a call or drop me an email at firstname.lastname@example.org.