What is the concept of Target?

In business, strategically delineating target customer segments is crucial, directly impacting the monthly revenue of the company. This article helps you explore Target as the foremost element in the quest for potential customer sources.

1. Understanding the Target Concept

Target involves the analysis and categorization of customer entities that businesses aim to reach.

In other words, Target involves identifying groups of individuals and target markets with shared characteristics and mutual interest in your product, making it convenient for developing business strategies.

Precisely defining the target customer groups enables businesses to achieve maximum business efficiency.

2. The Role of Target in Online Marketing

Target in Online Marketing is extremely crucial, helping:

- Approach potential customer sources with utmost precision to minimize costs for unprofitable customer groups. In other words, it helps accurately identify the customer groups that businesses are targeting.

- Avoid widespread, costly advertising and strategically minimize playing dirty with competitive rivals.

3. How to Target Markets for Businesses

Clearly defining potential customer groups helps you avoid wasting marketing budgets. Target customers adapt quickly, and the percentage of them using and maintaining your product is substantial. Therefore, targeting markets is crucial and a top priority for marketers.

3.1 Define Customer Profiles

Usually, potential customer groups share common characteristics. To identify customer profiles likely to purchase your product, you need to determine:

- Who are they?

- Where do they reside?

- Occupation: What do they do for a living?

- Age: At what age does the potential customer group primarily belong? Are they Millennials or Generation Z? Tailor your product development based on the age of potential customers.

- Gender: The preferences and hobbies of females and males differ, so you need to categorize and develop ideas based on the gender of the potential customer group.

- Income Level: This decisive factor helps determine the pricing of your product. Does the potential customer group fall into the high or low-income bracket? If it's the low-income group, target convenient, affordable products with a focus on quality.

- Location: In other words, where does the potential customer group reside? There are differences in shopping habits between urban and rural areas. Therefore, depending on the location, you can tailor the development direction for your product.

Apart from the above characteristics, you should also delve into professions, marital status, hobbies, etc., to clarify the portrait of potential customers.

3.2 Determine Market Scale

Conduct research on the target market through primary and secondary market research.

To determine the scale, follow the steps below:

- Survey:

+ Utilize traditional methods such as on-site surveys in crowded locations for distributing flyers to gather opinions.

+ Utilize the Internet: gather opinions through email, websites, Zoomerang, or SurverMonley, …

- Interview: Choose crowded locations like shopping centers to understand their shopping habits.

- Focus on a Specific Customer Group: Gather customer feedback or build a Q&A to delve into the preferences of a particular customer group.

3.3 Evaluation

After identifying the potential customer group and the method to target the target market, you need to reassess once more to formulate a development strategy for your business.

4. Explore Targeting in Facebook Ads

4.1 What is Targeting in Facebook Ads?

Facebook Ads, or Facebook Advertising, is the core of advertising on Facebook.

Targeting in Facebook Ads involves defining the target audience for advertising on Facebook.

Facebook, being a vast market with diverse customer demographics, emphasizes the importance of precise targeting in Facebook ads for optimal effectiveness.

4.2 Effective Strategies for Targeting Facebook Ads

To target Facebook ads successfully, analyze your audience's age, interests, and monthly income level. After completing the analysis, input these targets into the Facebook management interface.

Currently, targeting on Facebook is based on the following 4 criteria:

- Geographical Location: Where are the target customers located? Proximity or distance plays a role in shaping shopping habits. Tailor your product development direction based on the location.

- Interests: This marketing category allows you to classify and identify potential customer groups based on their preferences.

- Age: At what age can your product be utilized? Age is a decisive factor in your business strategy.

- Demographics: In this business approach, narrow down your target to accurately reach demographics with a high likelihood of making purchases.

Here's an introduction to Target and how to effectively use it on Facebook to generate abundant potential customer sources. Best of luck to all of you on your journey to success!