Small business owners are advised to find their niche. A niche, or target market, is a group of consumers with very specific traits or backgrounds. They’re the ones deemed to benefit from a particular product or service the most. Businesses focus their marketing strategies on their target market in order to gain sales and brand loyalty.
A target market consists of usually just a single group of people. Each person in that group can have varying profiles, but at their core, they’re considered the same type of people, so to speak. For example, the target market for a particular shampoo brand is females aged 18 to 49, with a monthly household income of Php100,000. They should be single with no dependents.
The psychological traits, location, educational background, race, and lifestyles of a target market are also considered. As such, they can be a very small group of people. This poses a challenge for small business owners. With only a small market to cater to, how can they reach the full potential of their brand? How will increase their sales?
Well, small businesses can actually target multiple markets. By doing so, they can reach out to a wider group of audiences, allowing them to boost brand awareness and diversify their marketing strategies. And the only tool they need is the internet.
How to Target Multiple Audiences
When a business advertises, they target a certain audience. A target audience is similar to a target market, but the term is used when talking about marketing strategies. They’re not defined as a group of people who are most likely to use a certain product or service. Rather, they’re the ones who may find a particular ad useful.
The ads you see on social media probably show products or services that are relevant to your daily life and interests. Sometimes, you might also see irrelevant ads. But they didn’t appear on your feeds for no reason. You probably searched the brand on Google once or came across their website randomly. The internet’s algorithm paints you as a target audience for an ad if your web activity involved searching for an ad’s brand, whether you have a use for it or not.
Since the internet works this way, it has become feasible for small businesses to target multiple audiences. If their marketing strategies can benefit a group outside their primary target, that means a potential for higher leads, conversions, and revenues.
Here are the steps to targeting multiple audiences:
Perform Market Segmentation
Market segmentation is the process of dividing and grouping your target market into different clusters, or categories. Big brands do this to expand their reach and dominate the market. There must be three basic characteristics or criteria in a market segment: common needs, distinction, and common reaction.
To better understand this, let’s use a personal care product as an example; a body spray, let’s say. You can create two different body sprays, one for women and one for men. The two genders are two different or distinct categories, but they have a common need for fragrance and a common reaction with the product’s scent.
You can also segment your market to sell different types of food. If you operate a restaurant, you can create a menu for vegans. You’re essentially still targeting one market, such as people who like Chinese food, for instance, but this time, you can appeal to the vegan cluster of that market.
Use Social Media
When using digital marketing to target a bigger audience, social media will be your best friend. While monitoring Google searches are helpful, it’s social media that’ll help you understand people’s personality and lifestyles better.
Use industry hashtags to start. It’s the easiest way to keep up with the latest trends and news. Hashtags also help your content get a boost organically. Any user who clicks on the hashtag you used can stumble upon your content.
You can also create hashtags specifically for your brand. That’s how Coca-Cola enhanced its online presence. Their hashtag, #ShareACoke, effectively encouraged their market to enjoy a bottle of soda with their loved ones.
However, even if organic boosts can save you costs, it’s still essential to invest in social media ads. Paid ads will do a better job at targeting multiple audiences. But you have to ensure that the ads are published on the right platforms. If your target audience includes Instagram users, then your ads should be on Instagram.
Boost your visibility by posting content regularly, and interacting with your audience on the comments section or through Instagram Story polls. The more human your business feels, the greater the audience it will attract.
Your business doesn’t have to be an industry leader for you to succeed at targeting multiple audiences. With the internet and marketing experts to guide you, you can nail the job and make it big in no time.