4 Tips to Finding Your Target Audience
You have just launched your online store, or your new app and you are excited to see those sales / downloads coming in. In order to get those results you want, it’s time to launch some digital marketing and ad campaigns! When you do launch your campaign, it’s important to find the correct target audience for your product, otherwise your time, resources and budget will not realize their full returns. So how do you go about finding that target audience?
Here are 4 tips to help you get started:
- Breakdown Audience Batches
As you start building out your content and your digital presence, try to map out different batches of audiences.
Batch 1: the audience you believe you would be marketing
Batch 2: the audience you see who are following your competitors
Batch 3: the unknown audience who may be the ones that boost you to success
Whenever you start selling some products or releasing an app, it’s easy to feel like you know who your core audience is going to be, so try to break them down. This will be the first group of people you will run ads for. However, you need to beware, capturing the attention of any audience is difficult. The audience you think is right for your product may interact with your content, but might not convert to a sale or a daily active user (DAU).
That’s why your next step is to do some research on your competition and find the audience that interacts with them. You may be able to get a glimpse of who your competitors are targeting this way. You may be surprised to see what that audience looks like!
The final batch will be the most experimental. It may bear no fruits right away, but it will help tie together a complete picture of your audience eventually. There is always a wildcard audience out there that’s either untapped or just volatile. That doesn’t mean they aren’t valuable once you reach them. The quality of your product and your digital content will help capture the attention of this unknown audience, and the best way to find them is to analyze the results you’ve had so far.
Review the ones interacting with your content, go over your analytics and find groups of anomalies. Use a small portion of your budget to advertise to that audience. They may be a dud or they may bring more value than you’ll realize, so this is one of those high risk high reward scenarios.
2. Be the Audience
When you map out the audience that is following your competitor, try to learn more about them.
You will get more conversions if you understand an audience better, and the best way to understand your market is to follow their online footprint.
Join the communities they are a part of and share your message with them. This will also help in the direction of new content you can use to target an audience.
3. Be Ready to Budget, Be Ready to Pay
Ads add up, it isn’t easy to find your audience right away, and you need to be ready to test out different campaigns.
The 3 batches we mentioned should act as a starting point – a way to find the best combinations of targeting in order to get the highest number of conversions. In order to get there, it means you need to be ready to take on the costs of those campaigns.
Set a budget for your product, and break out the campaigns. We recommend putting a heavier chunk of the budget towards the audience you believe you will be marketing to and the audience you see who are following your competitors, and putting a smaller amount towards the experimental unknown audience.
Of course, every product’s strategy may vary – some products have more generalized audiences and others already come with a specific niche audience – but it’s always good to have the budget for multiple campaigns ready.
4. Give Time & Analyze
It is very important to give your campaigns time to train and reach your audience. You should not expect to see results within an hour, and even if you do, you should give it enough time where you have results to properly analyze and compare all your campaigns.
It is very important to not only analyze the results of each individual campaign, but also make sure you compare both the interaction and conversion rates of all of the campaigns against each other.
We recommend keeping a record of all the campaigns you ran, with the different audiences, so you can start utilizing the past results and experiment with new ones. It may be the most tedious process, but it will bring out the best results!
IDENTIFY YOUR AUDIENCE - INCREASE CONVERSIONS
Targeting your audience is similar to a science experiment. You have your hypothesis (who you think is your audience), your research (who follows your competitors content), your experiment (finding new audiences, trying out different campaigns) and your analysis (reviewing your campaign results), all of which will lead to your final conclusion (raking in the high conversions!).