Your company’s target audiences are like your vehicle’s tires — they’re necessary to operate! However, your target audience goes beyond the typical customer and business relationship we are used to. When companies understand the nature and needs of their target audience, their entire approach to business and their relationships change. It’s more aligned and comprehensive because you don’t see one without the other. Just like a car needs tires to move smoothly without damaging the rims, businesses need customers, especially their target audience, to stay connected to the energy of the culture and their industry. This connection helps them make significant progress ahead of their competition.
We can see the similarities when we think back to the vehicle and tire comparison to businesses and their target audiences. Not that people are inanimate objects, but when you think about it, just choosing any old tires won’t do. Your vehicle needs specific, targeted tires for an optimal driving experience. For example, tractor-trailers need a specific type of tire, and they also need more tires than the average car or truck. Four-wheel drive vehicles require all four tires to perform their job effectively due to their design and the equal distribution of driving forces to each wheel. Some vehicles need multiple sets of tires for the front or rear axles. Not to mention the variety of sizes! Additionally, there are different types of tire tread for all road and weather conditions, types of vehicles, and more. However, most drivers use one of the three most common types of tire tread designs on their vehicles. Similarly, businesses encounter three common types of customers, each with unique needs and expectations. Companies must adapt to these diverse needs, empowering them to cater to their customers effectively.
Just as you narrow down your choice of vehicle tires based on your needs, your business should refine its target audience based on your business goals and needs. Your goal should be to attract your company’s ideal customers, a group of people who share traits and interests that make them excellent prospects for your products or services. Your target audience consists of the kind of customers your business wants to attract and communicate with, the people who would benefit most and are likely to buy. Just like your car performs best with a particular set of tires, your business will perform best by focusing on your ideal customers. Therefore, knowing your target audience is critical to business performance and its overall success, just as your vehicle’s specific tires help it perform optimally.
Targeting your target audience involves the various ways businesses communicate with the customers they want to focus on and attract. Your business’s marketing is geared towards getting their attention and letting them know what you offer. Targeting your target audience takes more consideration than simply trying to reach “everybody,” but it can give you more bang for your buck when you reach the people who are truly interested in what you have to offer.
It can take patience and a certain amount of trial and error to see if your product has a reception in your chosen market and whether your target audience will respond to it the way it is presented. For example, if a luxury shoe is advertised as having the finest materials and craftsmanship but breaks in two weeks, that brand can not charge thousands for those shoes and expect their luxury clients to stick around. That brand isn’t living up to its claims of having the best products for the price. And that’s the same for businesses that undervalue their product – if you receive consistent feedback that you’re not charging what you’re worth, listen! Your target audience can also be considered a mirror; they can let you know how well you’re doing and areas where your business could improve. When your target audience is willing to drive near and far and show their support through word-of-mouth marketing while patronizing your business, you have created a perfect match between your business and your audience.
When businesses use that “mirror” within their target audience, they can always correct in real time. That’s the beauty of knowing your target audience, what they expect, what their needs are, and how to meet their expectations and needs – your target audience becomes your business partner. When customers can’t live without your brand, that is the ultimate customer-business relationship that every business strives to achieve. Like your first car, your initial target audience was modest. Over the years, your circumstances improved, and now you’re driving a luxury vehicle that drives beautifully on a particular set of tires and expects you to have experience driving because you know the power it possesses.
If you need help identifying your target audience or learning how to communicate effectively with them, contact Credico today. Our goal is to help businesses grow by understanding their target audiences.