Audience Analysis Definition
Audience Analysis refers to the research conducted by brands to understand their audience on aspects such as their behavior, interests, preferences, gender, location, age, demographics, and other relevant elements of a group.
First of all, when brands understand their audience correctly, they can plan and execute marketing campaigns and promotions easily. Audience analysis gives answers to typical questions such as –
– Who are our target customers?
– Which social media platform is best for targeting the right audience
– What are the best ways to enhance customer engagements?
A few decades ago, gaining an understanding of one’s audience was possible only by surveys and market research. But today, using social media data, audience analysis can be performed by brands to gain actionable business insights about their target audience.
Audience Analysis Advantages
1. Target right group:
Audience analysis allows you to focus on your target audience. It helps by eliminating people who do not fit your criteria. The insights derived from audience analysis is precious as it is essential to identify the target groups for your products.
2. Product Promotion:
With audience analysis, promoting your product to target audience becomes easier. Audience analysis gives access to the interests of your potential customers, thereby promoting your product better.
3. Beat Competition:
Audience analysis helps companies to discover not just their own audience but to identify the audience of competitors as well. As a result of audience analysis Brands can design strategies to capture the competition based on insights relating to the likes and dislikes of their audience.
4. Design Marketing campaigns:
Brands are using data-driven marketing campaigns that make use of customer data that can improve and optimize performance. Audience analysis enables companies to target the needs of their customers, thereby build high-performing marketing campaigns.
Audience Analysis Example
Fender maximized their click-through rate by conducting audience analysis. Fender, a music brand, launched the American Professional Range – five of their most recognizable guitars re-packaged for a new audience. They wanted to put the right message in front of its potential customers, for which they had to know their audience well. They examined their target audience and discovered their online activities. This gave most noteworthy details of the buying behaviors, spending habits, attitudes, social media usage, and lifestyles of consumers.
Furthermore, audience analysis gave clarity to decide where, when, and how to reach out to audience. Due to audience analysis, Fender could fine-tune the messaging to the extent of even suggesting which guitar model was most likely to strike the right chord.