Target Audience
And Competitors

Your business success will depend on how accurately you'll understand who your potential buyers are. That's why you should begin any digital marketing activity with audience research.

A target audience includes potential buyers who are likely to be interested in your product and often share some common features like gender, age, residence, income level, etc.

A common mistake in identifying the target audience is to describe it very broadly—for example, to define your target audience as men and women between 30 and 50 years old. This description can be used both for a housewife with three kids and a CEO of a large company. But you don't know what they have in common and what they want.

If you don't study your potential buyers and try to sell your product to everyone, it will be too expensive for you as you'll have to win the attention of a huge crowd. Target audience allows you to work selectively and address only those people who are most likely to get interested in your product. In this case, your advertising expenses will be lower and your conversion rates higher.

Knowing your target audience will also help you understand where to promote your product, what channels to use, what platforms to be present on, and who to address. For example, you sell expensive designer clothes and have identified your audience as ladies between 18 and 30 with a high-income level who are interested in fashion. Hence you need to use social media for promotion, especially Instagram as lots of young fashionistas ca be found there.

Therefore, to better understand your target audience, it's a good idea to build your target audience profile.

Women between 25-45 with an average income level living in a small town or the countryside. They are married with a child of 1-10 years old. They are rational buyers as they can't afford to buy impulsively. They appreciate comfort and usability. They are active in forums for women and on Facebook groups. They never buy things spontaneously—they choose carefully and compare prices. They want reliability and guarantee when they buy a product and they like discounts.

Once you've identified your target audience, you should segment it, that is, subdivide it into specific personas.

A buyer persona helps you better imagine your target audience by focusing on a specific person. Thanks to personas, it's easier to understand what different buyers in your target audience want and create offers based on their real needs.

Remember that you don't need to think of all the possible personas. Focus on those personas who you want to work with and who can bring the biggest profit to you. Usually, 3-4 personas are enough. A persona can also be a collective image of several buyers.