Being a business owner can be an extremely difficult task, though you may walk into it thinking that you will make a lot of money and pursue your interest, you are in fact welcomed with a long list of issues that you have to overcome before you can become successful.
There are a lot of things that you have to think about as a business, from marketing to pricing your goods. However, before you can focus on anything else you first need to make sure that you have found your target demographic.
Finding your target demographic should be the first thing that you do when setting up a business. After all, how are you supposed to know how to plan your marketing and general customer outreach if you do not know who your customer will be. You could always set out a general marketing tactic, but this would not be nearly as effective as a targeted marketing campaign, which is why finding your target demographic is so important.
Now that you know the importance of finding your target demographic, then you may be wondering how you can go about doing so. Here is the 2021 guide to finding your target demographic.
Do Some Public Screening
The best thing that you do when trying to find out the target demographic for your product is to do a public screening, a public screening will give you the chance to communicate with the general public and gain their opinions and what they believe is the right demographic for the product.
A very common thing for businesses to do is hold something called tester evenings. These evenings consist of setting aside separate groups of people under different demographics, so male and females and different age groups are a great way to set this up.
You then ask this group of people to try your product, which you can gain their responses on. Usually, it is a good idea to set aside a questionnaire for them all to fill out and the one with the most positive response will usually be the target demographic that you will go for.
Use your common sense
A large part of figuring out what your target demographic depends on the use of common sense. Say you are a business that specializes in the sales of cbd flower, you aren’t going to hold testing groups for children.
The same can be said about a lot of products, as you won’t necessarily target your female sanitary product line at men over 50. If you have a good marketing team as a part of your business, then they should be able to work out a general idea of who you should be targeting your product at. However, not every business has a dedicated marketing team, and if this is the case then you have to depend on yourself to figure it out. If you are someone that is having issues trying to figure out what your potential demographic may be, then you could always ask for advice from your fellow business owners, as they are usually more than happy to offer advice to those who may be in need of it.
Check out competitors
If you are someone that has a product or service that can be compared to pre-existing products, then a really easy thing that you can do in order to try and figure out your target demographic is looking at products that already exist on the market.
You can then look at their product and their advertising techniques to see who they advertise to. You will be able to easily tell which particular demographic that they are advertising to, just by looking at small aspects of their ads. For example, if a company makes an advertisement for their product, they will usually use actors that fit into their target demographic. This is an extremely useful way of understanding your competitor’s demographic, so be sure to look out for things like this.
Not only can you get an idea of what demographic other businesses are targeting, but you can get an understanding of what potential target audiences are being neglected. You may notice that a lot of companies are specifically targeting one demographic, and you may believe that another should also be targeted. Targeting a demographic that is not being targeted by similar businesses will give you a USP which will really make you stand out from other businesses, which may improve the popularity of your business.
Something that is commonly done by businesses is something known as trial advertising. Trial advertising consists of running a number of different ads that are targeted at different demographics. These ads are then looked at to see which one had the best overall response. Thanks to the use of social media metrics, you can now see exact analytics of how posts have been interacted with.
You can use these metrics to figure out which of your trial ads have received more interaction for your desired target audience, you can then use this data to decide which demographics you are going to promote your products to.
Something that we recommend is that you make sure that your advertising and promotions are targeted but not too exclusive, as you can still gain custom from other demographics that are not the ones that you have specifically selected.