By far the most important and effectively the base of any marketing strategy is identifying the target audience. This is the most basic piece of information upon which whole marketing strategies are built. Identifying the target audience can help in many ways. While it is important and helps build marketing strategies at every step, it is necessary to identify correctly. Here, let us discuss some points on how to correctly identify the target audience:
Understand the brand
Yes, the phrase has a nice ring to it and rightfully so, because it is after all such a crucial factor in identifying the correct target audience and this can lead to the success of a marketing event for a brand or the brand in general. For an event to successfully give out the right message to the right people, amicable relations and understanding between the brand managers and event managers is crucial as brand managers can provide deep market insights about the market scenario and customer expectations that will lead to the development of smart and effective marketing strategies.
Understand the market
A basic understanding of market expectations can go a long way when forming a marketing strategy. This brief understanding helps us to understand what points the masses have liked. This information of what the masses have accepted can lead to decisions regarding whether to continue with the same activities or introduce new activities that are of similar nature. The understanding of the market can also lead to well informed future strategies to take smart positions in the market and keep up with growing trends. For example, with a concert, it is common knowledge that the masses like a certain level of flamboyant which come in the form of flashy laser lights, confetti showers and the occasional flame throwing. The growing trend in this market is the so called “silent parties” which are just like regular concerts, but in this case there is more than one DJ and attendees are given headphones and can tune into a frequency that matches the one used by their fav DJ. This concept has worked beautifully with audiences and eases out noise pollution which is a bonus and can also be used as a marketing point.
Using current data
Using the current data about how many and what kinds of people have gotten involved with the brand is crucial because this tells us a few things. It could clear doubts about what kind of people can accept said brand, it could give an idea of changes that can be made to explore and tap a wider audience base, it could also give an idea of what to do to retain the current audience in a sustainable way.