Knowing and identifying your target audience is the most critical step to an effective SaaS Digital Marketing Strategy.
By following these five steps, you’ll be able to pinpoint and produce relevant content for your ideal buyer persona.
This article will outline everything you need to know about a target audience, the importance of knowing yours, and how you can identify your target audience.
Your target audience is comprised of potential buyers who meet your Ideal Buyer Persona while indicating they are likely to use your product. Some standard qualifying criteria include:
The most convenient way to sum up the characteristics of your audience is by creating a Buyer Profile Persona and naming it after your ideal buyer. This will allow you to put a face to your buyer and itemize their qualifying criteria. It also allows you to brainstorm, analyze and strategize around these personas for a more engaging content marketing strategy.
After you research, you may realize your target audience falls into multiple categories; for example, your SaaS product may be deemed beneficial by users in various industries. This case requires developing multiple buyer profiles to reflect the diversity and sophistication of your target market.
First, knowing who makes your target audience is vital because it allows you to align your product design and development with the current needs of your customer base. The more data you have on your target audience and their most pressing needs, the better you can design your SaaS to fill gaps in the market.
You are also strengthening your digital marketing campaigns by identifying your target audience. Whenever you know their interests, needs, and desired benefits, you can curate content that addresses their concerns, increasing the effectiveness of your marketing outreach.
The third reason why identifying your target audience is essential is that you can identify the best channels to deliver your marketing campaign. An example is if you know a large amount of your target audience is utilizing Facebook heavily, you can run Facebook Ads crafted to reach this market segment. It also contributes to more cost-effective marketing; when you focus your marketing efforts on your ideal audience, your paid ad campaigns become more effective, leading to better conversion rates and a better return on investment.
There are various methods when it comes to identifying your target audience correctly. I created this simple and actionable five-step guide that will help you quickly develop an Ideal Buyer Persona:
By following these steps, you can sketch a detailed profile of the main segments of your audience. Here are some tips that will help you execute each step successfully.
An efficient start to identifying your target audience is by analyzing who your current marketing base is compromised of. This approach can start with your actual leads and customers, which caters to objectivity and minimizes speculation. This is more reliable than relying solely on intuition or guessing to identify your audience.
Your current marketing base will be composed of:
Analyzing members of each grouping with these criteria will allow you to have a better picture of who your target audience is:
These criteria will allow you to create a scoring system for your leads and customers. Each measure met will add one or more points to their respective scoreboard. The higher the score, the more compatible you are with your ideal customer.
These criteria represent buying-oriented behaviors, or actual purchases will be given more weight than any other criteria since they are more likely to purchase or become repeat buyers. For example, someone who has already purchased your SaaS and renewed their subscription is expected to continue it if you approach them with a reasonable offer.
After thoroughly analyzing your current marketing bases, you can segment your marketing bases into one or more Ideal Buyer Personas. Segments can be created that represent a different portion of your target audience. You may also find that customers that purchase a specific product are more inclined to buy an upsell.
These segments can also be created based on where a lead is in their buying process. This allows you to segment the marketing for your leads and customers at different points of your SaaS sales funnel.
Once you’ve identified the characteristics of your current leads and customers, you can begin analyzing your market's pain points. Of course, pain points will vary by market, but here are some of the categories that pain points fall in:
These are general categories often applied across the board to most industries; within a particular market niche, you can deep dive into more specific pain points. For example, your target audience may experience difficulty integrating your product into another popular application which could fall into the poor UX category.
There are several methods to identify which pain points apply to your market:
After you have identified the pain points of your target audience, you should rank them by what is most important to your audience. This will help you determine which angles to empathize with your marketing and sales material.
You may find that different segments of your audience have various pain points or prioritize the same pain points differently. This must be considered when developing digital marketing campaigns for different audience segments and selling to individual customers.
After describing your audience's pain points, you should define clearly how your product is a solution to their pain points and back it with easily digestible/relevant social credibility. Similar to pain points, the benefits of your SaaS will vary from market to market but will generally fall into a few major categories:
As with pain points, these are general categories that can be niched down for specific audiences. For example, a SaaS-based around web design that uses a drag-and-drop interface will appeal to small business owners who don’t want to spend time learning code.
You can research what benefits are the most desired by your audience by using the following methods:
Just like pain points vary by market, so will the benefits of your product. For the best results, segment your audience while presenting the benefits of your marketing and sales campaigns and when presenting to individual customers providing only the most relevant information.
Surveying your customers about the benefits of your product is crucial as you’ll discover valuable insights on why visitors behave a certain way.
The next step is determining where your audience researches to find critical information about your industry. This determines the best promotional channels you should leverage to reach your audience.
Here are some things to consider when determining where your audience is looking for you are:
Tools such as Google Analytics tell you so much about the traffic being driven to your website! As the few things on this list display, you can expand your digital resources. First, however, you must consider all the help your audience might use to find you.
Knowing what your target audience is looking for will help you identify which authorities your audience trusts. This is extremely useful as you can tap into the credibility of recognized thought-leaders and have them lend some authority to your brand.
For example, suppose you know your audience follows a particular software review site. In that case, it may be in your best interest to consider offering that website complimentary use of your SaaS for review purposes. Similarly, by citing a thought leader in your industry, you can build the credibility of your blog and social media posts.
Quick ways you can identify thought-leaders in your industry:
Lay the foundation for your optimized digital marketing campaigns by identifying your target audience. A holistic marketing strategy that accounts for the entire customer decision journey is the difference between scaling your SaaS product tremendously and hitting growth bottlenecks.
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