Why is the key audience more important than the target audience today?

The promotion of goods or services often relies on understanding the target audience, including their characteristics, behavior patterns, needs, and purchasing power. Advertising effectiveness heavily depends on accurately targeting the audience. However, in today’s business landscape, focusing solely on the target audience is no longer sufficient for achieving success. The importance of the key audience surpasses that of the target audience, as explained in Quarter Billion Agency Group’s blog.

In marketing, the key audience refers to a broader group of individuals who have the potential to influence the company’s existence or the success of a particular product or service. This audience includes authorities, investors, employees, media, partners, and others who play a crucial role in the functioning and promotion of a company. Engaging and paying attention to the key audience segment is essential.

Therefore, the key audience encompasses all the people upon whom the success of your product relies, whether directly or indirectly. Of course, your ultimate goal is to reach your consumers. However, your success will be determined by how well you interact with the key audience.

The dynamics of a company tend to change depending on its stage of development, as well as its products and services. For instance, in the early stages of a business, the primary focus will be on investors and controllers, such as authorities, who play crucial roles. If we consider the total attention as 100%, a significant portion, around 70%, will be allocated to these entities. The remaining percentage will be dedicated to staff, partners, and potential initial consumers. However, as the company progresses and stabilizes, the dynamics shift dramatically. Investors will receive a minimal amount of attention, perhaps as low as 5% or even none at all, while the focus will shift towards the staff and consumers, who will receive the majority of attention and resources.

It’s worth noting that the audience and its influence on your business largely depend on the chosen sector. Currently, there are four sectors: B2B Production, B2B Services, B2C Production, and B2C Services. Each sector has distinct differences in terms of their impact on your business. For instance, in the B2B Production sector (e.g., Gazprom, Lukoil), the audience hierarchy may be structured as follows:

Here is a representative list of key audiences in the B2C Services sector, exemplified by companies like Sberbank, IKEA, and Evroset:

When it comes to the target audience, it is an aspect that requires specific attention and discussion. The target audience is a widely recognized concept in marketing, yet only a few consider the mechanisms involved in identifying this group. Businesses often possess limited knowledge about their target audience, relying on fragments of customer interactions, transactions, and shopping data. They may have a general perception of their customers, but lack detailed information about their sociodemographic and psychological characteristics, as well as their buying motives. While there may be assumptions, certainty is lacking in this regard.

There are two approaches to address this issue: a complex one and a simpler alternative. The complex approach involves conducting thorough social research, which not only reveals the interest of specific groups in your products but also illuminates their position within the societal structure. However, this method is time-consuming and costly, leading many companies to opt for the second approach: leveraging existing, pre-developed classification systems of individuals used by major companies. While the separation criteria for these groups are well-known, the criteria themselves often remain debatable as they are based on social stereotypes and past experiences, which may not always hold true.

Nevertheless, this does not imply that defining a target audience is meaningless in today’s context. It is still crucial to identify a target audience; however, it is important not to overestimate the precision of these assessments.

In this regard, the key audience proves to be more reliable as you have a specific list of individuals upon whom the success of your business depends. Engaging with the key audience involves employing various practices tailored to their specific needs. It is crucial to demonstrate investment appeal to potential investors and sponsors. Motivation becomes a vital aspect when it comes to your employees. On one hand, each employee should understand their role as a key contributor to the collective success of the business. On the other hand, they should feel satisfied with the working environment and rewards. It is preferable for employees to have decision-making autonomy and a sense of their prosperity being tied to the company’s success.

An excellent example in this context is the distribution of 7% of Russian bank “Tinkoff” shares among 50 key personnel. When it comes to the government, media, and influential figures, a range of public relations (PR), government relations (GR), and comprehensive marketing initiatives are in progress.

Moreover, it is important to recognize that certain individuals, such as investors, partners, and employees, have their own network of relatives, friends, and acquaintances. If they are satisfied with your business, they are likely to promote your products or services within their personal circles.

The aforementioned applies to both the B2C and B2B segments. However, the B2B target audience is often defined with greater precision compared to the B2C audience. Therefore, it is crucial to give equal attention to the B2B target audience as you would to the key audience. In this case, the target audience comprises specific individuals, particularly decision-makers, rather than a vague representation of the average population.

On the other hand, if you have access to individuals who can influence your major customers, it is essential to consider them as part of the key audience. The factors mentioned above will significantly contribute to the success of your business.

Today, the intended recipients are frequently an elusive concept fabricated by marketers and determined by standardized attributes that often bear little relevance to your products and services, the region in which you operate, or the emerging generations shaped by a new information paradigm. A vital audience comprises specific individuals upon whom the success of promoting your products or services hinges. Consequently, in the present era, the crucial audience holds greater significance than the traditional target audience. It is worth noting that Quarter Billion Agency Group offers comprehensive promotion services tailored for the Russian market.