In order to have a successful business, you must consider many aspects. On the one hand, we have brand awareness, which refers to strategies entrepreneurs use to make people notice their business; brand awareness makes people distinguish your product and enterprise from the rest of the competition.
On the other hand, we have target markets, which are more related to the type of audience you want your brand to aim; target markets are a way to advertise your product specifically to the consumers that likely need your services.
However, the question remains, which is more important?
Both Are: Every aspect is essential, mainly if we are referring to two points that are so closely related. You will know the difference between both features and recognize their importance.
Brand Awareness: If you want to have a boom in your sales and reputation, then you must be aware of brand awareness (pun intended).
Here You Will See Some Aspects To Take Into Consideration Of Brand Awareness:
1. Be the figure of authority: If you never travelled by sea, then selling boats might be hard for you. Nonetheless, if you´re not updated, then your experience might not have the same impact. The key to making consumers look up to your brand as an authority in your field is research and an experienced team. An investigation can make you write informative articles so you can answer the questions your clients have always had about your area. Moreover, having an experienced team might help you go beyond the information there already is in the subject.
2. Who are your consumers? Even though most entrepreneurs seek for their product to be used by everyone, the reality is that you must go from small to big, i.e. from specific to general, if you want your product to be notorious. You must divide and keep dividing the market to find your perfect audience that suits your product. However, this is the part where target markets get mixed.
Bullseye: If you want to segment the general audience, then you must know how to differentiate them. Take several aspects into consideration such as gender, income level, or marital status etc. Who are your perfect consumers? Those who want your product badly, and to know who they are, you must answer questions to know exactly who they are. Are your perfect clients married or single? Are they young or old? Do they live in a specific place? With these results you will know how to design your brand and also where to advertise it; thus your product will be placed in the exact position you want it to be.
To wrap up, we have seen the differences between brand awareness and target markets, but we have also seen the way they are deeply related. If you don´t want your brand to be invisible, then you will have to seek for the proper public; therefore both are very important.