The Importance of Really Knowing Your Target Audiences

 By Berenice Mulubah 10/17/2016

Berenice mulubah

Good morning love ones. The sole purpose of this article is to help entertainers build a strong fan base.  The phrase 'target audiences' is a popular phrase in business, but not a familiar phrase to the Liberian entertainment industry, which is a young startup industry.  When you ask most Liberian musicians, who are their target audience, they will tell you, "the world."  Which is not a realistic goal. A major step in a successful business plan, is making realistic goals and having the whole world as your target audience is not realistic.  As you progress in your music career, one of the essential components to your success will lie in the establishment of a solid business plan. Let's get down to making that business plan, including establishing a target audience.

What is a target audience? (In my Liberian voice), dah pepo dem who will buy your music.  These are the fans who are going to attend your concerts, buy your shirts and even have your posters on their walls, so it only makes sense to figure out ways of appealing to these customers by letting them know that you recognize their love for your music and you have the perfect songs, videos and performances for them.  The whole world won't come to your concerts, but these people will.  They are the ones who are going to put money in your pocket.

Why is having a target audience so important?
As an ambitious musician, you may be tempted to market your songs to anyone and everyone, but this will only waste your resources and time because you’ll be marketing to consumers who either aren’t interested in what you have to offer or who wouldn’t benefit from what you’re trying to sell them. Think of it as fishing, if you know where the fishes are, you can cast your net knowing that you will catch some fish, without wasting time, instead of spending the whole day casting all over the ocean, hoping to catch something and you don't, or you only catch few.  
To guarantee the success of your music and to avoid wasting valuable time and resources, you need to perform target market analysis.  You’ll determine whether or not your demographic is correct or if you should be targeting another segment of the population. And you’ll also be able to determine how your products and/or services should be marketed before you even begin to offer them. Once again, it’s all about establishing the fact that you have an audience for your style of music before diving in only to have regrets later on. Once you have your target market in place, you can rest assured that they’ll be receptive to what you have for sale.
Learning about your target audience’s unique needs and expectations, will allow you to tailor your music to their needs.

What are the steps involved in target audience analysis?
 

In order to successfully target your audience, you’ll need to learn everything that you can about them. To do so, follow the tips below:

1. Establish Who Will Be Interested in Your Music
 
The first step involves establishing who you think your target audience will be and who you’ll be directing your marketing efforts towards. Consider the age, gender, culture, salary, location, and occupations of the members of the public who would benefit most from your songs.

2. Conduct Market Research to Learn Even More
In step 1, you’re making a lot of assumptions, but in step 2, you’re using actual research to be certain your assumptions are correct. You should take advantage of surveys to get in touch with your potential fan base and get to know them even better.  You may want to find out what their favorite genre of music.  If they love Nigerian music and other foreign music, ask them why, then you can use this information to target your products to them while offering something fresh and different from the competition that will make you stand out from the crowd.

3. Choose the Markets You’ll Target

 Based upon your research and the information you’ve gathered directly from fans, you should be able to find your target audience.

4. Include Your Target Market Analysis in Your Business Plan
 
Once you and your team have reached a conclusion with regards to your target market, it’s time to write all of the information in a clear and concise fashion into your business plan. Be sure to include a description of the industry you’ll work in and the customers you’ll cater to, as well as detailed information about your target market, your pricing structure, and your anticipated gains.
Target market analysis is a necessary step in establishing a successful business. It takes time to gather all of the information you’ll need, but it will definitely be worth it, as it will guide you in making the best decisions for your career. If you find yourself struggling with the process, though, consider taking a course in market research to gain valuable insight and tips that will make things easier and answer all of your questions.