One of the most common mistakes that business owners make is assuming that their target demographic shares traits with themselves. This phenomenon is known as “projecting.” It’s a natural trait that essentially means that a person assumes that others think and feel the same way about things as they do.
Falsely believing that your target demographic thinks and feels the same way as you do can lead to wasted marketing dollars, misdirected marketing efforts, brand confusion and failed marketing campaigns. And even worse, it can lead to long-term company branding issues that will cost more time and money to correct. Continue reading to learn how to market to your ideal target audience.
What is a Target Market and Target Demographic?
First, it’s essential to understand what the terms target market and target demographic refer to. A target market is a group of people who are likely to purchase your product or service. It’s who you are trying to reach to buy your product or service. For instance, if you sell toys, your target market will be children, but it will also be parents. The toy must appeal to the child, but you need to sell it to the parents because they are the ones making the final buying decision. The target demographic is similar. These are the people you want to advertise to. They are the ones who might be interested in buying your product or using your service. When deciding on your target demographic, you will consider age groups, genders, income levels, and lifestyles.
Importance of Research-Based Marketing
It’s almost impossible to avoid the projecting phenomenon because it’s a natural part of human nature. The solution is to engage in research-based marketing. Through research-based marketing, companies are able to make objective decisions about how to attract their desired client within the target market. When you dig deep into who your target market and demographic are, you can better inform your marketing decisions.
Research-based marketing includes demographics and psychographics. The more in-depth you can develop your target demographic profiles, the better you will get to know your target market, which in return can help you make better research-based marketing decisions. To do this, you need to gain perspectives from each member of your marketing team. Don’t be a focus group of one. Consider insight from several people to ensure that you aren’t allowing yourself to fall victim to the “projecting” syndrome.
Enhance Your Audience Outreach With Research-Based Marketing
It’s very helpful to work with a reputable media company because they have the knowledge and tools to guide you and help you create the perfect target market based on research. They can help you with learning how to make the best research-based marketing decisions. With the assistance of a media company, you can ask pertinent questions about your target markets’ likes and dislikes, how they use their social media, and which social media platforms they prefer. This allows you to determine where you should spend your marketing money. Your media company can also help you to gather qualitative and quantitative data through customer feedback surveys that you can use to correct course and develop more focused campaigns.
Research-based marketing is the only way to ensure that marketing decisions are objective and relevant to your target market and demographic. By working with a respected media company, you’re able to best determine what your audience wants, how to reach them better, and strengthen your campaign.