At the heart of your market sits your target market or sometimes called buyer personae. It is important you know who you want to sell to but it is also very important you understand why and how they buy. Information is criteria in today’s marketing and with the help of psychographic and behavioral marketing segmentation, you don’t just spend because you know where to spend your Ad budget.
You may have come to understand who your buyers are in terms of demography but have you taken the time to analyze why and how they buy?
The “how and why” people buy is much more than who they are. You may have the age range for your product but you still need to narrow down to who are interested in your product and how often they may likely consume your product or service. This will help you in marketing and production or stock decisions.
For instance, you are a hair stylist and you found out that females between age 18-45 will be best suited for your service who lives in Ikeja and have a job. For your business, this is vital as it would be waste of time and resources targeting beyond this spectrum of targeting as you don’t have the intent of expanding at the moment.
You are not quite sure this information, but when targeting within your Ads, you need to eliminate those who belong to a certain group that is, not likely to engage you or those who are a conservationist. Who are so loyal to their friends who is a stylist. Those who don’t do the style of hair you do.
Bottomline, narrow down to the essence of your Ads goals.
When you don’t narrow down your target audience to the how and why you waste scarce budget and do not make the best of your investment.
Whichever channel you choose to use for your advert, ensure you understand if your kind of personae can be reached on the platform and narrow down to what gives you value for your money.
In Psyhographic Model for social marketing, things you consider are opinion, lifestyle, interest, personality, and value. Behavioral segmentation dwells on the frequency of purchase by your market and the usage rate.
These two guide to help you understand best ways to target your market and not waste your budget.