How do you define your target market and buyer persona?
Each business should have 5-7 clearly defined target markets. Everything you do in your business is for your target market.
Why do you need to make it clearly defined?
* Decisions you make in marketing are easier and more effective.
* You have a real understanding of what your target markets want.
* It makes it easier to do online marketing – you know what social media platform your particular target market uses such as Facebook, Twitter, Linkedin or Google +.
* You can visualise who your target market is. We recommend giving each one of your defined target markets a name; this will help you understand what they like and who they are.
* Your efforts are for your target market – people outside your target markets are bonuses.
The idea is to take your target market from a very broad spectrum and narrowing it down to smaller segments that are still large enough to have scope potential.
At our wonderful Content Market Workshops we met a lady who runs a lingerie business for plus size women from size 14-56. Within this business there are several target markets as the motivation and needs for size 14 are different to a size 56.
In defining the target market you need to look at the demographics including gender, age, where they live, occupation and income. You can then take it further and define their behaviours, interests, needs motivation and goals to give you a good understanding of who your target market is.
In the Content Marketing Workshop we defined a target market who are size 14-20, female, aged 18-25, occupation and income broad, living in Australia and New Zealand. Their needs and wants were the lingerie/underwear needed to be comfortable, practical and attractive. Their need for privacy was another key factor and the fact that the whole process is online appealed to them; this also highlighted the need for a ‘how to measure’ chart. (The ‘how to measure’ chart could also be used as a blog post to attract your target market).
The person who represented this group of people we named Tessa. The business owner was immediately able to visualise who Tessa was and what she needed and how to approach her. The business owner was then excited about defining her other target markets and being able to visualise them by repeating this process.