As a company trying to make its mark on the internet, it is extremely important that you be able to pinpoint who is your audience. Being able to focus on the right people will help you increase your visibility, improve your conversion rate and ultimately, to contribute to your success in terms of sales.
Many companies do market research in order to be able to learn more about the type of person that will represent their typical clientele. They do this in order to help focus their marketing strategies and advertising campaigns. Market research is extremely useful and can be used to study a number of factors, including web marketing, traditional advertisement and other ways of presenting your products and services.
Identifying your target audience on the internet is somewhat different as doing so for other mediums and consumption habits. Of course, the end goal is still the same, but in this case, you are also looking to figure out how these people use the internet and how it affects their consumer habits. The main objective is to paint a picture of your typical customer so that you can adjust your message to them.
Market research: the work of specialists
It is a common misconception that anyone can do their own market research. However, there are many intricacies that require the eye and knowledge of an expert to be able to extract precise information that will end up being truly useful.
However, to be able to understand the data you receive as the results come in, you need to know which factors are the ones that need to be looked at. This information will be useful when deciding what type of strategy to use for your website, your SEO, your online ads and all that jazz.
Here are the 10 main factors to identify your target audience
The first 5 of these factors help in creating the profile of the person, whereas the last 5 touch on other aspects pertaining to the way they use the internet.
1) Their level of education
What type of diploma does your target audience have? There are distinct categories such as high school, college or university. This affects the way you will speak to them.
2) The industry in which they work
What is their daily occupation? The type of work that they do can be relevant in some cases, especially knowing whether they have a specific career or have had a succession of jobs.
3) Their family situation and marital status
Do they have a spouse and children? This can affect their decision-making process, as well as the type of purchases they make and needs they have.
4) Their annual income and consumer habits
Their salary bracket and consumer habits can be extremely useful information as these say a lot about the amount of disposable income they have, as well as the type of purchases they make.
5) Their interests and needs
This factor can help seize how to approach them and how exactly your products and/or services can be of use for them. This way, you can adjust how you advertise and communicate on the different platforms that are available on the internet such as social networks, websites and advertising services.
6) Their age category
This factor actually acts as a bridge between the first and last four on the list. Indeed, people of different age categories do not use the internet in the same way. Those from younger age groups are known for making a considerable proportion of their purchases online. They also have the reflex to look for products and services online. Other generations may need more convincing before signing a contract, buying a product or any other of your end goals as a company.
7) Their preferred method of purchase
Are they still weary of internet purchases or do they buy everything from nail polish to flooring materials online? Do they look at products online and head to brick and mortar stores afterwards, or vice versa? What about online payment? Lastly, what aspect is most convincing to them when making a purchase and how will this work online? This factor encompasses several questions that all need answers.
8) The amount of time they spend on the internet
Studies show that people, especially teens, spend somewhere close to 50 hours a week being online in one way or another. The more time they spend online, the more likely they are to transfer all their habits to this medium, including the purchase of products and services.
9) The number of purchases they make online
As stated before, age is often a factor in determining how many purchases they make online. However, this is not always true. Different people have adapted and changed their consumer habits now that everything is available on the internet. Many people’s first instinct is to head to search engines to look for the product or service that they want. This factor will help you understand where to focus your efforts.
10) The way that your company could be useful for them
Never presume that your company will be useful to all consumers. You will be much more successful if you know how to sell your product or service to the right people by showing them how it will help them and how it will answer their needs.