If you own a business, then you need to market it correctly and periodically. But first, you need to define your target market. Your existing & prospective customers should take full advantage of your services or products. For this, they need to know more about your offerings prior to benefit from it.
However, a difference does exist between your target customer service & market. One can be stated to be somewhat broader when compared to the other. Hence, when marketing your business plans, you need to be clear about the difference.
Related Post: How to identify your target market?
Potential customers & target audience
This market can be stated to be a broad group comprising of potential customers of different ranges. The target market for your business, for example, can be a certain income group or ages 18-34. You can expect this group to seek your products or services. It is essential to break down your market to a specific target audience, especially if you personalize your marketing efforts.
Identify target customer
The person you feel will buy your products or services are more likely to be your target customer. They comprise a segmented part of your market to which you need to provide target customer service. Such components may include specific age rather than a range, variety of income types vs. specific income level.
Your preferred marketing methods might overlap when you seek to reach your target market vs. target customer. If direct mail, for instance, is your primary marketing method, then you need to target a specific city zip code. This is to send business mailers to identified potential customers and markets. But your marketing strategy might differ. For instance, you may choose to offer special discounts or provide target customer service. Since this is a broad group, you are not likely to send out your target audience with special offers.
Consider your marketing plans
Your marketing plan is to cover both the targets, namely target customer service & the market. With a broad marketing effort, you will be able to attract a huge number of potential customers to benefit from your products. Again, with diverse marketing efforts, you can raise your business visibility level. Increased visibility with the target audience means, having the ability to reach people outside present this market.
Market vs. Audience
Without a proper target, your business is sure to be doomed. People are not likely to buy your products or services to impress you. The target audience type you desire needs to be made very clear. It is here that the target market & audience comes in.
These terms however are interchanged often in marketing articles found on the web. However, they are not the same thing and are completely different.
What exactly is the target audience?
They are considered to be the people, whom you want to reach through your website. It includes would-be buyers, influencers & blog readers. A wide range of people may visit websites and few with an intention to buy. The others may just prefer to go through the site to seek information. If both are placed into a major group, then it is likely to be your prime audience.
Why have a target market & audience
Your targeted audience might not be interested to buy any product or service immediately. However, they are crucial to your business as they are like seeds. Without this audience group, you will not have buyers checking out your website.
You can promote your business to your target market by implementing several techniques. Find out about people belonging to your niche segment with online profiles or websites. This allows you to promote your brand of products & services.