A product or service is being introduced in the market to drive sales. While businesses have control over the quality and kind of product they sell, the buying process lies in the hands of the customer. Understanding customers' behaviors through a target audience template allows companies to market their products more effectively.
When businesses comprehensively understand their target audience, they can develop more informed messaging, timing, and media decisions.
What is a target audience?
A target audience could also mean a group interested in a company's products and services. They often share the same traits, at the same age group, or might be in the same societal class. Identifying the target audience is essential in developing a successful marketing strategy. Failure to know who your target audience is will jeopardize your business.
Depending on how you map out your target audience template, you can use various columns or have them down using sticky notes. This way, it's easier to get an overall picture of who they are, how they behave, and what they want.
Why is the target audience analysis important?
One of the goals of opening a business is increasing your customer base. To do so, it's vital to identify the people who best resonate with your services or products. As you know, they will significantly affect business strategies and decisions about product development.
Below are some additional reasons why businesses must run an audience analysis.
- The analysis allows you to convert potential parties to customers quicker.
- Customer analysis lets you develop cost-effective marketing strategies, saving time, resources, effort, and money.
- Personalize your marketing content effectively, which could drive better results.
- The analysis can provide customer requirements so companies can meet them to ensure higher customer satisfaction.
- You can increase your customers by ensuring an increased conversion rate.
- The target audience template analysis will strengthen the company's market position so you can establish the brand in the market.
When to use the target audience template?
While you can create your target audience template whenever you want to know your customers better, there are significant aspects of the business process where this document is vital.
- Identifying who's interested in your service/product. You can use the template to know the specific customers interested in your offers.
- Running multiple projects simultaneously. The target audience template lets your team stay organized and aligned while keeping potential target customers as the priority of the marketing efforts.
- Focusing on specific demographics. The templates allow your team to focus on different demographics, including age and gender. Some companies might also want to explore their potential customers' interests and opinions.
- Launching a new product. The target audience template is essential to introduce a new product. Besides knowing specific audience groups which have an interest in the product, it also increases the probability of driving better sales and profits.
How to use the target audience template in Boardmix?
Boardmix's target audience template is easy to use even with little knowledge about digital diagramming. Look closely at the guide below.
- Log in to your Boardmix account.
- Go to the 'Templates' tab to explore its library and choose the template for your target audience analysis.
- Fill in the blank areas on the template using the customer information you gathered from your analysis.
- Send the file link to other team members to share your output.
Before structuring your template on Boardmix, performing some processes is beneficial so you'll have concrete data and statistics about your target audience. Here's how to do it.
- Collect significant demographic data. Companies use these sets of criteria to describe customer segments. Besides relying on interviews and social media channels for the data, you can have solid demographic data using your current customers.
- Gather location data. You can identify your desired audience by city, neighborhood, state, region, or country.
- Gather psychographic data. This category contains information about potential customers' interests, opinions, activities, and opinions. The data you'll have here will be instrumental as they can be so granular.
- Choose two to five identifiers. There can be countless identifiers in one target audience. Pick those who provide significant information that gives you more insights into your target audience.
- Test your target audience. Once everyone agrees on the template you created, you can speak to your audience directly or contact them online.
FAQs about target audience analysis
What are the four types of target audiences?
The four target audience types include geographic, psychographic, demographic, and behavioral.
How do you identify the target audience?
You can determine the target audience by performing the following processes.
- Client interviews
- Market research
- Identify industry trends
- Analyze competitors
- Create personas
- Define who's not your target audience
- Use Google Analytics