How do I figure out the best target audience for my business?
The advantages of launching this advertisement on the Internet for users are quick viewing and the ability to compare the offers of goods of different companies with already indicated prices without additional transitions to other services, keeping up with marketing trends. Thus, the user saves time and money, because he sees offers of the same product in various online stores.
There are two main approaches you can take here as far as I know. One is the old-school approach: just ask people. Send out surveys to customers, find a company who can do market research for you, that kind of stuff. Of course, that method is expensive and slow, but it can lead to some insightful data if done right.
The second, more popular method is to work with an advertising agency that offers analytics consulting services — Metric Labs is a good example. Such an agency can run a variety of small-scale online marketing efforts to see how different audiences and age groups react to your brand and your ads. The resulting data from these marketing efforts can help you nail down with a surprising precision just who your ideal audience is and how you can best reach them. This approach is also generally cheaper and faster than traditional market research, so it quickly became an industry standard.
