Getting the word out about your business is important, but each consumer wants something different, so it could be a waste of time to advertise to some groups. Putting more time and resources into a region, demographic or class of buyers who are more likely to purchase your product will help you effectively allocate your marketing budget.
“At the beginning, most people have a pretty good idea of who will use their product,” said Lindsey Myers, founder of Concrete Blonde Consulting. “The more specific you can get [with your strategy], the easier it is to reach those people for less money … and also to find new audiences and grow.”
It’s valuable to know whom your product appeals to. This gives you audience insight and the opportunity to conduct a market analysis on what your ideal customer looks like. You can also research and study their needs and interests to improve your content marketing strategy. Doing this can help you foster relationships with customers, which can build trust and loyalty while also boosting customer engagement.
Key takeaway: Identifying your target audience is important because it can save you the time, money and resources of advertising to the wrong prospects.