Getting insights about your competitors’ target audience can give you an idea of whom to target and how to target. If you have just started a business but don’t know whom to target, this article is for you.
Here are 7 effective tips to help you find your competitors’ target audience — the customers most likely to purchase your product.
1. Identify Your Competitors
Before finding your competitors’ target audience, you must identify who your ideal client is and then who your competitors are. These are businesses that offer similar products or services to yours and operate in the same industry.
2. Analyse Your Competitors’ Marketing Channels
Go through your competitors’ websites and social media accounts. Analyze their tone, language, imagery, and topics they write about to get an idea of who they target.
You can also scroll through your competitors’ social media posts and analyze the type of people commenting, liking, and sharing their posts. The marketing materials your competitors use can give you a rough idea about the demographics and interests of their audience.
3. Examine Customer Reviews
Read customer reviews about your competitors’ products or services to know the types of customers they serve and the pain points they are addressing.
Examining the reviews will also give you an idea of the issues customers face with your competitors’ products, helping you launch a better product than them by addressing those complaints.
4. Website Analysis
Nowadays, most businesses have a website. By analyzing them, you can get to know a lot about their business and target audience.
It’s possible to check the website content manually. But to get technical information (which is crucial for competitor analysis), it’s necessary that you use an SEO tool like SEMRush. SEMRush will give in-depth data about your competitors’ websites, including:
- Website search volume
- Traffic distribution by country
- Number of backlinks
- Websites that have provided them with the backlink
- Keywords their website is ranking for
- Average position in the search results
5. Analyse Advertisements
Study your competitors’ advertisements, both online and offline. This can include Google search ads, social media ads, radio, TV, and print media. By doing so, you can get a clearer picture of the audience they intend to target.
6. Take Surveys
Purchase your competitors’ products and take their survey to know how they engage with their audience and their areas of product quality measurement. The type of questions they ask can give you an idea of whom they intend to target.
7. Attend Conferences
If possible, attend industry events or conferences where your competitors are present. Observe the attendees and gather insights about the types of people interested in your competitors’ offerings.
Conclusion
If you want an accurate picture of your competitors’ target audience, it’s crucial to combine multiple sources of information and make assumptions based on the data you collect. The tips mentioned in this article can help you significantly with this process and help you identify whom to target.
Struggling to grow your business? Want to multiply your profit? Book a coaching session with Ken D Foster. Ken, who has over 35 years of experience in business development, can make you realise the potential of your business and significantly increase your profit.
Follow Us!