Starting any type of business requires us to carefully look at who and what we are targeting. If you are starting up a business in the current climate, it is so crucial to understanding who exactly is your ideal customer. What is the type of people that fits into the demographic and psychographic profile of your business? Branding in Malaysia is insufficient without understanding our own target consumers and not knowing who they are.
Target marketing is so important for our business because mass marketing has caused more losses and failures than we could count on in the business world. The importance of mass marketing falls short in the significance of target marketing. Identifying a proper target market allows businesses to make the best out of their business by targeting those who are genuinely interested in your business. More importantly, those who will be profitable to your sales. If your current customers or followers are not bringing you any sales, it is time to look at your target customer and change your marketing strategy according to their needs and preferences.
Targeting a smaller group is also a lot more efficient because you can communicate better. When we communicate better, we have better chances of growing our sales because we are fulfilling their needs. There are some crucial things you must look at when it comes to the identification of your target audience.
First of all, we have the demographic profile of the consumer. Your demographic profile consists of components like age, sex, location, race, and other background information. This information is rooted in where they live and what their lifestyle is in their location. Before continuing with your branding strategy and marketing strategy, write down a clear sentence about the ideal demographic profile. For example, for a male deodorant brand, you may write “Ahmed, is a 35-year-old Indian man, living in the tropics of Malaysia”. Narrowing down the brand’s target audience to 25-40 years old and race and location instantly brings us better access to how we can address them.
The location is not the only thing we need to access. We also need to access their psychographic details and digital data. When it comes to the psychographic details, it does not concern the importance of where the person is located but rather it questions their interests, activities, hobbies, and life. The psychographic of the consumer is used to understand their shopping experience and what motivates them to behave the way they do. The opinions they have and what influences them are explained using the psychographic details of the individual. You can get a clear sense of the psychographic details through various methods of market research such as surveys, interviews, focus groups, and so on.
Having a clear target audience or a market and working on them improves brand loyalty,y revenue growth, brand image, awareness, and overall reputation. Your long-term growth is rooted in the way your target consumers behave. So instead of targeting everyone in your online audience, take some time to identify your target audience.