The Importance of Profiling Your Target Market

The Importance of Profiling Your Target Market

We recently wrote an article about the growing demands Gen Z is placing on businesses and highlighted the importance of understanding their expectations and responding effectively

This got me thinking about how important it is to truly understand your market and tailor your marketing and sales proposition to meet their needs. Too often, I meet with prospective clients who focus on “what they want to say” and what they want to push out to the market, without really understanding who they are talking to. This approach often leads to low engagement, and eventually, business owners or directors see poor returns on their marketing investments. The usual response is to cut marketing budgets, which causes new leads to drop off and, ultimately, turnover to decline.

To avoid this, it’s essential to spend time profiling your audience. Consider key factors like:

  • How old are they?
  • Where do they live?
  • Do they have a family/
  • What are their interests – are they into outdoor activities, or perhaps more interested in music?

Additionally, look at their business preferences:

  • Do they want low-price products, or are they more focused on quality?
  • What is the challenge they need to overcome, how can you provide a solution?

Understanding how your audience consumes information is just as important. Ask yourself:

  • Are they engaged in social media? If so, which platforms?
  • Do they read emails, or do they simply “bin” non-work-related ones?
  • Do they use Google to search for new suppliers, or other search engines?
  • What devices do they use to search – desktops, tablets, or mobiles?
  • Would they open direct mail?
  • What media do they consume, both personally and professionally?
  • Do they attend conferences and exhibitions?

These are just some of the questions that need to be asked, and this is where research becomes essential. I recently sat down with Neil Grantham, CEO of WDG Research, who explained why research is important and how to get the most out of it. Have a listen to our discussion here https://www.youtube.com/watch?v=876kTS1m09E&t=657s 

However, research is only one element of the planning process. Once you’ve built a profile of your audience, you are then in a position to adapt your messaging and marketing collateral to provide the information your audience wants and needs, in the format they’re most likely to engage with.

Keep in mind though, that your audience’s preferences will evolve. The profiles you build need to be updated regularly, and so should your marketing content. Consider running campaigns for a fixed period of time. These campaigns can then be evaluated and adjusted to align with the evolving needs of the market

The last piece of the jigsaw is integrating your marketing activity with your sales function. Your sales team is often the best source of real-time insights into your market, as they’re speaking with customers every day. Involve them in your marketing planning and make sure they have the tools to convert the leads that your marketing generates.

Is I not just small businesses that have to overcome these hurdles, in a recent article, the head of marketing at Mastercard explained how they had to change the way their sales and marketing functions integrated and how they reflected the customer’s needs, have a read https://www.marketingweek.com/mastercard-b2b-marketing/

If you’d like to explore how to ensure your marketing delivers strong ROI, or how Eyes Wide Open can help, don’t hesitate to get in touch!

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