How to define your business purpose and target audience.June 9, 2021 2021-06-17 12:04
How to define your business purpose and target audience.
Every business has a purpose that differs from the general notion of purpose which is defining your brand and how it engages with your customer. And also, the major reason the business was established.
To understand your business purpose, it is important to separate it from your company’s vision or mission statement.
This is a very important part of the entire digital marketing process, if not the most important part because what we do now will affect all we would talk about later in this article both in content marketing, social media, and digital advertising.
In this article, we’ll discuss how to define your brand and target audience by covering these topics;
- DEFINE YOUR BUSINESS PURPOSE
- POSITION YOUR BRAND
- UNIQUE SELLING PREPOSITIONS
- BUSINESS SELLING PREPOSITION
- BUSINESS PERSONALITY
- FINDING YOUR AUDIENCE
- VALIDATE YOUR BUSINESS IDEA
- AND NOT EXCLUDING REAL-LIFE CASE STUDY
If you are interested in these topics or you know your career direly needs these ideas, then this is the right article for you.
- DEFINE YOUR BUSINESS WITH YOUR AUDIENCE:
For you to define your business, here are some questions you should ask yourself:
- Why do you want to make the world a better place?
Most business owners believe that the purpose of designing a business is solely to provide solutions to customer’s needs and not to make the world a better place.
Well, this is not wrong because not all companies would have to make the world a better place to be successful. How would you feel if your business is not in the pattern of just striving to be productive but making her productivity valuable to making the world a better place?
Let’s take a look at some companies in reality that creatively maximize this notion.
Canva: This creative design company donated a large portion of its proceeds from the sales of premium props to victims affected by COVID.
TOMS: This shoe-making company gives away a pair of shoes to the needy for every pair of shoes purchased. So, you buying a shoe is you paying for them to send shoes to someone in need.
Another question you should ask yourself is;
- What problem are you solving?
For instance, let’s use our parent company “Princesage Online Branding”, and our digital academy “POB ACADEMY” as our case study.
POB ACADEMY is a digital institution arm of PRINCESAGE Online BRANDING saddled with the responsibility to simplify digital marketing for business.
Princesage Online Branding is a digital agency committed to providing marketing, management, and advertising services to entrepreneurs, institutions, and marketers, using available resources online.
Below are the problems and challenges our target market experiences.
What are the known Problems or challenges your target audience is currently facing?
|Princesage Online Branding – Parent Company||POB Academy – Training Institution|
We provide well-structured, Digital Marketing tools and services to simplify, manage, marketing and advertisements. In addition to the training that is proven and tested to improve conversion.
Convenience and ease of use are our focus when assisting our customers.
Also, we groom and train highly professional freelancers to execute jobs for clients. We take responsibility for business trade secrets and job completion as oppose to other public freelance websites or companies.
Create simplified digital training materials, guides and checklist online that can be accessible to business owners, entrepreneur and organization’s employees.
Subscribers will get access to actionable steps and guides at their disposal.
Convenience to learn at your pace with a wide range of support.
Your employees over time can learn, and take actionable steps that will yield returns on investment for your business.
After stating your “problems and solutions”, come up with a statement that it’s not technically your mission statement but a statement of your purpose.
POB ACADEMY is saddled with the responsibility of simplifying digital marketing for businesses to boost conversion and returns on investment.
Princesage Online Branding: To creatively use digital resources to simplify marketing, management, and advertising. Thereby, Moving your brand around the world.
Now you understand how to define your business purpose. Get a pen and paper to write these problems you are trying to solve. Also, don’t forget to state your business solution to the problem statement that would make the world a better place.
Now you know the problems you are trying to solve; the next step would be to know how to position your brand.
- POSITIONING YOUR BRAND WITH YOUR TARGET AUDIENCE
Brand positioning is the way you position your brand image in the psyche of your clients. More than a slogan or an extravagant logo, brand positioning is the procedure used to separate your business from the rest.
It is how customers identify and connect with your brand.
It is a way of setting up your business to differ from its competitors to be preferred by your target audience.
When you think of soft drinks or soda, the first thing that comes to your mind might be Coca-Cola or Pepsi. These brands have positioned their products in the very best way possible above their competitors to dominate the world of soda and soft drinks.
Another example of brands that comes to your mind when you think of shopping online in Nigeria are Jumia, Konga, and Jiji, but when you want to run international shopping online, the first brands that come to your mind are Amazon, eBay, and Alibaba.
These brands have built their personality and services in such a way that they do it better than their competitors.
To better position your brand, you’ll need to understand what makes your brand different from your competitors, and the right positions that would help you sell your products or services better.
How Can You Position Your Brand?
There are a few questions that we’ll run through using our brand “Princesage Online Branding” and its digital training institute “POB ACADEMY” as a case study or example.
After reading this article it will be reasonable to fit these formats into your business.
– What makes you different?
|Princesage Online Branding – Parent Company||POB Academy – Training Institution|
|Convenience and ease of use are our focus when assisting our customers.||Convenience and ease of use are our focus when assisting our customers.|
|We have highly professional internally trained and experienced freelancers at POB.||Our training only focuses on what is important to boost your business|
|We ensure that our prices are reasonably at per with the market value for each job per freelancer. Also, our services are rendered at a different quality level that fits your budget.||Our training is affordable for the budget of your business size.|
We ensure we deliver quality services at prompt deadlines.
|Our training is socially interactive in brand voice but we still maintain a high quality in content delivery.|
We take much effort to understand customers’ brief, companies’ core ideologies, fears, and overall goals when executing our tasks.
Easy to understand. You or any college-level undergraduate can start implementing our guides using actionable formats, checklists, templates, and video lessons.
Exclusive Support via live chat, tickets, social media, and emails.
Exclusive Support via live chat, tickets, social media, and emails.
– Why do you do what you do?
- The question you have to ask yourself is “why are you running this business”. Perhaps, you are in business just to pass time or raise money. These are not good reasons to start a business.
- As a business owner, you should have a cool reason why you’re running your business. You can refer back to our earlier discussion of how we are using our business to making this world a better place.
Using our company “Princesage Online Branding” and our Digital Marketing Institute “POB ACADEMY” as a case study.
- To help brands simplify marketing, management, and advertising using digital resources to improve productivity and increase sales. This will overall boost the Gross Domestic Product of the economy.
- To eradicate unemployment amongst our growing population and increase their skill set while delivering their services to employers or clients.
Once you’ve answered these questions, they can help you with your actual positioning statement using these templates:
FOR (Target customer)
WHO (statement of need or opportunity):
(Product name) is a (product category)
THAT (statement of key benefit)
UNLIKE (competing alternative)
Product name) (statement of differentiation)
This may be a little confusing, so let’s just go through an example using POB ACADEMY as our case study;
For Example, (POB ACADEMY)
FOR business owners and entrepreneurs (TARGET AUDIENCE)
WHO wishes to use online marketing to sell and manage their business products and services (STATEMENT OF NEED OR OPPORTUNITY).
Princesage Online Branding Academy (PRODUCT NAME) is an institution (PRODUCT CATEGORY)
THAT helps people learn and improve digital skills (STATEMENT OF KEY BENEFIT)
UNLIKE Traditional schools, blogs, or YouTube tutorials (COMPETING ALTERNATIVES)
Princesage Online Branding Academy (PRODUCT NAME) teaches online digital courses to take your business from absolute beginner to advance mastery (STATEMENT OF DIFFERENTIATION).
You can look through a few case studies to do this yourself.
Take that structure for the positioning statement, answer the previous two questions mentioned above, come up with your business target audience and its differentiation; then put them all together.
You can as well summarize your position statement like the position statement for our company “Princesage Online Branding”, as seen below:
- To be the leading Digital Marketing training brand in Nigeria
- To become the best Digital Media Solution Provider for SME’s and Medium scale businesses
- To be Nigeria’s number 1 Digital Consulting agency
- To create a Digital hub platform for experts and Professionals that delivers digital solutions
- The first name to remember when starting a business in Nigeria
Let’s take what we’ve learned earlier a step further. Now we would be talking about your brand’s UNIQUE
- UNIQUE SELLING PROPOSITION
This is similar but also a little different. This separates your brand from the competition and knowing this would help you sell your products and services in a way that you’ll use copy and language to determine why you’re different.
A Unique Selling Proposition (USP) is a unique selling point or slogan that differentiates a product or service from its competitors.
A business can fix its USP on item qualities, value structure, position method (area and conveyance), or limited-time system.
Knowing this would help you sell your product and services in your unique style and personality to your target audience.
The first question to ask is:
- WHAT OTHER COMPANIES ARE SIMILAR TO YOU?
By knowing this, you understand how you can differentiate your brands from them.
For POB Academy we’ll be looking at Digital marketing skills institute.
Digital marketing skills institute is an amazing company with lots of online high-quality courses for digital marketing.
- WHY WILL SOMEONE PICK YOUR PRODUCT OVER YOUR COMPETITORS?
Princesage Online Branding Academy is more focused on business owners, entrepreneurs, and institutions to maximize and implement digital marketing strategies that increase brand awareness and returns on investments.
Our courses are user-friendly to assist business owners and employees with actionable work-through guides. We only teach you what your business needs.
Our collection of courses are more affordable than that of our competitors.
Let’s look at some other case studies;
It states that “When it absolutely, positively has to be there overnight”.
Even though they don’t make use of this slogan too well, it was listed among one of the best USP (Unique Selling Proposition) out there.
The company tries to set its brand different from other companies that cannot guaranty overnight packages.
- M & M
It states that ” The chocolate melts in your mouth, not your hand’
They are competing to set their brand apart from other chocolate companies that sell chocolate that melts in your hands on a hot day.
Toms Shoes are quirky, comfy, light, and inexpensive. That alone perhaps isn’t enough to make a company stand out in the shoe business.
The unique and interesting part of the TOMS shoe story is that they give an extra pair to a child in need for every pair you purchase. That is a unique selling proposition and other companies have taken in line with this as well.
For example, many companies give back to support causalities during an outbreak like Canva donating each prop purchase to the covid crisis.
Nike is one more organization known for selling shoes. However, Nike is different from Zappos and Toms since they center principally around athletic shoes with unmistakable sponsorships to star teams in competitions.
Their USP (Unique Selling Proposition) is that they give the best quality shoes, kits, and wellness to star teams in a competition.
POCKET REMINDER AND ACTION
Start brainstorming your unique selling proposition because if you know and have one it will help your business do well.
You must have something which your customer can relate to. This leads us to our next point.
It is important to have a personality in business. It does not mean to act in a certain way, but you have to understand what your personality is and use it to your advantage.
Your personality should match your target audience. You should have a personality your target audience can relate to and connects with.
- WHAT IS YOUR BUSINESS PERSONALITY?
A business or brand personality is something to which your customer can relate. A powerful brand expands its brand equity by having a consistent set of qualities that a particular portion of your customer appreciates.
Business personality depicts how a brand sees and reacts to existing potential dangers and openings in a business environment. It is the composition of everyone that makes up the association–their conduct connections, values, image, cycles, and customs.
It is your voice, your style, and your place. This means what you sound like and the type of words you use and how you use them. Are you casual? Are you very professional? Are you more modern? Are you a little old school?
Your style: This cuts across the type of content you put out, your graphics, your colors, fonts, etc.
With place: This cuts across where you are.
Are you on social media? Where on social media are you? Are you on the old school traditional Facebook or the new school places like Snapchat, Instagram, and so on?
These define your personality.
- HOW IS YOUR VOICE HEARD?
In the entirety of digital marketing, your voice can be heard in the content of your website, your emails, the videos you make, and your ad copies.
Now, let’s look at some examples,
- POB ACADEMY PERSONALITY
- Down to earth
- Peer to pressure
- Confident; we are confident in what we say and what we know.
Let’s take another look at some other case studies to see the personality of other companies.
- COCA COLA
Within the class of soft drinks, Coca-Cola has the most grounded points of separation on the measurements of earnestness, refinement, intense and passionate feeling.
Coca-Cola has been the main beverage brand for a long time and her strength and dominance could be easily related to her ability to drive customers discernments that her brand is the best among all other soft drinks.
Also, when compared to other beverage brands like Pepsi and Bigi Cola, you’ll notice that Coca-cola places more emphasis on happiness.
For example, depicting more stories and scenes of refreshing and adorability in their advert placement. These efforts by Coca-Cola have empowered the brand to inspire a more prominent feeling of happiness among customers, and this clarifies why customers opt for Coca-Cola when they want to feel refreshed or ignite their feeling of happiness after a stressful day.
One of the best ways to find a company personality is by checking out their social media pages, so we would look at the brand “Chubbies” (the maker of shorts) Instagram’s page as an example.
They filled their Instagram page with customer’s stories and submitted pictures.
After listening to the CEO’s interview, we discovered a lot of these pictures have been sent by their customers over a long period. This is lots of content done for their Instagram team.
This works so well because a large audience can see other people like them put on these shorts in style as compared to sleek tall models.
The content delivery team only added brief text and graphics to these pictures to make them funny.
This is their personality. (Chubbies Personality)
- FIND YOUR AUDIENCE
Now you know your personality; you know why you’re different from your competition. So, let’s get to know your audience, how do you find your audience in the first place?
First, let us get started with the broadest circle of people who might be interested in your product or services in the first place, and then we are going to narrow it down a little.
For us at PRINCESAGE ONLINE BRANDING ACADEMY (POB Academy), the broadest circle we can operate is;
- BUSINESS OWNERS, ENTREPRENEURS, AND INSTITUTIONS
Any business owner, entrepreneur, or institution that exists in the world.
That’s a broad circle because it entails both business owners or experts who desire to use digital marketing to grow their brand and those who don’t.
There are billions of business owners, entrepreneurs, and organizations around the world. Even though, it is great to have a big audience, most times it is harder to sell your business to an audience that is so big.
Streamline your audience to a more niched-down audience and may expand it in the future, like people who wish to maximize digital marketing for their business.
This led us to narrow down our academy to focus on digital marketing for business.
- ANYONE THAT WANTS TO LEARN DIGITAL MARKETING
It will be great to teach digital marketing to just anyone who desires to learn digital marketing but not streamlining it to digital marketing for business will put us in a bubble.
Some audiences might just wish to learn digital marketing for their hobbies, like owning entertainment blogs and vlogs just for fun or some will love to gain digital marketing skills to become freelancers (experts that help companies fix immediate needs).
Covering these markets is sort of going outside of our target audience.
- ANYONE THAT WANTS TO USE DIGITAL MARKETING TO GROW THEIR BUSINESS
The reason we chose this niche was not just because we desired it or found a hobby in it, but because this niche best helps us to quickly reach our organizational goal and value proposition.
The majority of our customers who buy our courses are people who want to learn digital marketing to improve their business.
We found out that gearing our content marketing and advertising strategy to that type of audience has helped our business grow faster than we imagined.
- WHAT PAIN POINTS ARE THESE CUSTOMERS EXPERIENCING?
What are the pain points these customers or target audiences encounter?
If you understand their pain; you could solve their problem. If you do this so well, you could sell your solution to them.
The first pain point we found is that our target audience lacked the technical know-how of maximizing digital marketing to aid their business.
The second pain point is that most of our target audience does not know how to use digital tools or should we say, use them properly to maximize returns.
Most businesses will love to hire out their digital services to expert agencies and freelancers but are concerned about their brand’s voice and trade secrets.
Another pain point that is particular to most business owners and entrepreneurs (especially small businesses). They do not employ highly trained digital experts or agencies to manage their business but can and will educate their in-house team to do it for them or apply the use of DIY (Do it Yourself).
We are committed to teaching them only the most important implementation strategies to maximize returns on their investment using digital marketing.
In addition, assisting them to implement these strategies on projects, using our team of expert freelancers and lead consultants. So, you can focus on doing what is important to your business.
- UNDERSTAND WHERE YOUR AUDIENCE LIVES?
We live in the modern internet age. In terms of places on the internet most times, we are talking about Facebook Twitter, Snapchat, and Linked In, etc.
On LinkedIn, you have a lot of DIY-type people while on Instagram you have a lot more high and fashionable people.
Understanding how these different social media works are good so that you can figure out if your audience is there or not.
By answering these questions, you understand who your target audience is and by knowing this, you can now move forward with your content marketing, advertising, and social media strategies.
- VALIDATE YOUR BUSINESS IDEA.
Business validation is testing and validating your business idea; before launching your brand name, product, service, or website.
Validation of business ideas is as important as the product or service you are providing. It is one of the first real headaches any serious startup business faces.
If you have developed a brilliant business idea but you’re not sure if there are people who would love or desire to purchase your products or services; you can ask your friends, colleagues, or family members about their view on your idea.
You can also run a research and development process to test your product ideas before they’re launched to the public.
If you have got a business idea, and you are not sure how to go about it, there are two types of validations you could use to have a better chance of launching a successful startup.
- TYPES OF VALIDATION
Most businesses don’t fall bankrupt because they are under-capitalized, but because there were not enough research, testing, and preparation done at the initial stage.
The validation is;
- SOFT VALIDATION
This is the type of validation without the use of an audience.
It means doing a little market research yourself. Using tools like Facebook, Google, and YouTube to see what topics are popular.
Using Google to do researches about your business and getting to know your competitors in your area of focus helps to give you an edge over your competitors.
For example, launching a clothing business would require you to use Google, Pinterest, Instagram to make research on other leading clothing brands to check how customers accept and relate with their brands.
Doing this will give you an edge as a startup, in knowing how to take charge of your business.
Soft validation might be a good idea for a company but not be a good fit for every brand because this leaves out many people who might be interested in your business and services.
- HARD VALIDATION
This is a little different from soft validation. Hard validation would only give a better idea if your business idea is valid.
Experts or agencies who are consulted by companies to help them conduct researches on their business validation mostly do this.
- Cold calls
It is a way of communicating with people, by asking them various questions like;
- Is this an excellent business idea?
- What does their target market want?
With this, you could build up your social media reputation, and also build up your email list so you can send your questionnaires.
Besides this, you could also run surveys with Google forms to easily get feedback from prospects.
Business validation is done to maximize the risk of starting a business idea no one wants or isn’t willing to pay for.
The main problem business startups make invalidating their business idea is that the assumptions are mostly different from the actual challenges. Whereas the primary purpose of business validation is to make sure your business idea has a great potential to succeed and these business ideas are valid.
After reading this article, we hope this article helps you reduce the risk of making mistakes in your business.
Defining your business and knowing your target audience isn’t enough to guarantee your success, just as we said earlier; you need to properly research, create and market the products or services you offer to your target audience.
Knowing and understanding your target audience; who they are, what they are, where they stay, and what their purchasing habits are, will be a grand strategy to dominate the competition and maximize sales.
For you to effectively explain why your brand exists (be able to see your “why”), you will need to efficiently convince your prospect in a way that your brand story gives them more reason to choose you over your competitor.
To have loyal customers of your brand if you judiciously follow these steps.
We would be so glad to hear about your unique business idea and how this article will help your business achieve its sales goal in the comment section. We will highly appreciate other ideas and suggestions.