Target Audience

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Definition: Target Audience

Target audience are the target segments with whom marketers need to communicate using every medium. Target audience are the potential customers of every brand who can not only help in potential sales, but also in developing a brand out of a startup based on the positive relationship created with them. Target audience are the sole reason for whom products and services are developed, worldwide. A particular group of people, who are supposed to be the recipient of the various advertising and promotional activities. They are also referred to as the target population. Target Audience is the one, at which various products and their corresponding marketing messages are aimed. The target audience may comprise people belonging to the same gender, age, marital status or a combination of such factors.


Importance of Target Audience

In marketing, target audience is identified through the targeting strategy. This is a part of STP, where the other processes market segmentation and positioning. Every stage of creating a product is developed by keeping one factor constant i.e. target audience. The needs and expectations of the target audience is extremely important while creating any product, service or event. They can be “lay”, “managerial” or “experts”. They can also be grouped into “Spectator”, “Participant”, “Spy” or “VIP”. For an organization to be successful, it is extremely important to consider the feedbacks, suggestions as well as feelings of the audience that uses their product or service or comes across them in any manner. There is nothing more valuable than an audience. This audience of people are a part of the target market identified by the company.

Suppose we are creating a product and we want to sell it. We need to keep someone at the back of our mind to develop this product, right? That someone is the target audience here. We wouldn’t develop a successful product if we start from the scratch and finish the entire process without keeping them in mind. A successful company has a strong brand behind them which is created by loyal target audience or customers. Be it speaker or a company or any profession in the world, they need feedback from their listeners or audience or customers in order to hone their skills or improve their services. Concepts like market research is a result of such thoughts. It is primarily done to understand the market and create strategic priorities for an organization. The better you know an audience, the more effective you will be in creating innovative and appealing ideas, develop likewise strategy and promote your concept to them in order to create a successful brand.


Building a Strong Target Audience

Target Audience

For any marketer, it is important to follow these five steps of building a strong connection with the target audience.

• Analyze your target audience – demographics, income, social status, like and dislikes, needs, expectations, etc. For that a market research would be appropriate.

• Create – Create a need in the mind of consumers – need for the usage that your product offers. That can only be accomplished once you understand their expectations

• Connect – Connect with the audience on an emotional appeal because that is what resonates the most and customers retain the memory of those products that help them solve a problem or that makes them feel good

• Feedback – Considering the feedback of consumers is of utmost importance as it is the point that can make or break a brand. You do not take them seriously and you see the effect in the sales, almost on an immediate basis

• Refine – Now this is what makes a brand stand out. How well you can improve yourself and consider the feedback of your audience. An organization cannot reach the zenith of success as soon as it starts from the scratch. It will need to inculcate the response and feedback of the consumers into the development process and improve their services or renovate their products as per the needs and expectations of their audience.

Some important parameters of building are good audience are understanding audience composition and audience profile. Companies must also understand their primary audience, secondary audiencegross audience, external audience, internal audience etc if they want to capture the correct market.


Advantages of Target Audience

There are several pros of having the correct target audience. Some of the advantages are:

1. Your brand develops due to increasing word-of-mouth and helps build customer loyalty.

2. Increased sales based on the relationship with the customers

3. Chances of improving or rectifying the errors committed

4. Strategically developed product as it is made with specific interest in mind

5. Chances of creating a niche market

6. Chances of becoming a market leader based on how well you fulfill the audience expectations and tap the unthought segment

7. More audience leads to more popularity

8. Right set of audience leads to increased connections.

9. Right set of target audience leads to cost efficiency

10. More audience means more innovation in a product


Disadvantages of Target Audience

Despite several advantages, a few cons of a limited target audience are:

1. Having a wide audience can lead to increased costs as more time would be spent on target marketing

2. It becomes time consuming as well and that can become taxing for companies who are at a budding stage

3. Having a concentrated set of audience means a marketer can lose a fair share of chance to develop products that would have suited the needs of another set of customers

4. Mindset gets limited to a particular set of customers

Although the advantages as well as disadvantages have been stated, there are no disadvantages of having an audience as per my opinion. The entire marketing concept stands on audience and the relationship built with them.


Example of Target Audience

When we look at the brand Apple, we see a massive success story. Revenue growth, elite audience, cult products – what has been consistent throughout? The set of audience and innovation. Apple has always stressed importance on innovation. Their entire branding is based on emotional appeal with the consumers. Customers buy products because they make them feel good. Nobody buys an Apple phone thinking about the memory capacity or the features of the smartphone. Rather they buy it because it comes from the brand APPLE. They have this air of premium exclusivity that makes the audience feel luxurious while using Apple products. They pay a premium for the symbol of status. Now think about the appeal they have created and the relationship they have built with the audience that they are ready to spend a whopping amount near to 1 lakh INR for a smartphone. It sounds very impractical but that exactly is what the power of having an audience is meant to do. The emotional connection built with the audience has developed Apple into such a massive brand and royalty symbol. The consistency in their product designs and their passion has helped them connect with the audience from the very beginning this brand was established. And the rest, as they say, is history.

Hence, this concludes the definition of Target Audience along with its overview.

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