The COVID-19 pandemic has been one of the worst and the best times to learn more about your business and your target audience. Worst, because of the uncertainty and the challenges it brought along, and best, because of the opportunities to implement anything new and experiment with all the out-of-the-box ideas. Several brands across the globe established their foundation stone during the pandemic. They had a presence of mind, so they either took this chance to remodel their existing business or stepped into new industries. While several others also faced unthinkable adversities, they are still suffering because of the business loss and incapability to take advantage of the situation. Do you think the brands and businesses that failed couldn’t have done anything to grow or at least just sustain?
Here are our thoughts on why understanding your target market and market potential during the pandemic is so important.
- A target audience is a group of people who want or need the solution your brand offers for the prevalent problem identified in the market by these sets of people. But the efforts will all be worth it when you will be able to reach out to these people in the first place. And therefore, the entire market targeting comes into play. It is most important to first identify your audience to cater to their needs. Once this is accomplished, the company will be able to feature its products and reshape them according to the needs of the audience.
- Understanding your audience and their problems will not only help you in solving it through the strategies and solutions that your brand offers but will also help you connect with your audience on an emotional level. The fundamentals of this connection are essential as it chips in to make the gap between your audience and the solution narrower.
- When you identify your customers and reach them strategically in targeted ways, you will be able to make the best use of your content strategies and hence, will get the most out of your marketing budget, whether it is digital marketing or content marketing; branding budget, or any other marketing medium that you use.
- Identifying your market gives you a clear idea about the marketing tools you should be using. The techniques, strategies and materials will thus be used in a way to reach a large number of people and to gain maximum output from them. Through the implementation of Inbound Marketing Strategies and Tactics, the marketing tools could further draw in not just traffic but business as well.
- A successful marketing campaign can be formed for the products or services once the idea of the demographics and psychographics you want to reach is clear to boot. A well-made foundation makes the edifice strong and stable. Similarly, an audience that is understood minutely will be a strong foundation for the strategies to be built on it.
- The wants and needs of the audience will impact the strategies of the brand out and
out. The multiple brand strategy development tasks are also built based on the audience. The brand strategy elements, be it the competitors, positioning strategy, brand expression, or any other element, are entirely supported by the audience targeting, a shortfall of which will rumple the brand strategy development.
In these difficult times of the pandemic when people are struggling with keeping their business alive, following the strategy of audience targeting will not only form a funnel for you to concentrate your efforts in the direction of success and will grow exponentially. We at Samaara understand these strategies rightly and have been working outrightly to take care of our branding and marketing across the globe, in the difficult times of pandemic. This has helped us immensely and we have thus seen a 200% growth in revenue even after the market scenario has been adverse. We, therefore, zealously advise following this unfailing strategy for all those businesses who are working day in and day out to keep their business going.
Article By Mr Dheer Shah, CEO, Samaara Tea