Assessing your target audience is a critical first step in designing any communications strategy (social or otherwise). It’s impossible to reach and connect with everyone at once, so it’s crucial to focus your marketing efforts on the group(s) that are most likely to be receptive of your content and ultimately, what you or your business/brand represent and its significance to the group(s) you’re targeting. Identifying and getting to understand your target audience can help you discover the various elements and tools that will not only impact how a product or service can be pitched, but the success rate of those pitches.
A hobby/interest of mine is spinning (super fast/intense indoor cycling alongside some really great music, in other words). The studio that I go to frequently is called Elevate Spin, located in Barrhaven. Elevate has a pretty strong social media presence and loyal following, so I decided to use their business as an example to identify their target audience (based on personal experience and our course content).
Demographics
Age
I think the typical age bracket for Elevate’s target audience are aged between 20-30 years old (millennials). This age group has a more predominant use on social media than younger or older individuals, and spinning (or fitness in general) is a common, shared hobby/interest among this age group as well.
Gender
From what I have seen at the studio myself, most members/participants are women. However, this is not to say that Elevate appeals or markets themselves exclusively to women. I think men or women can be included in their target audience.
Ethnicity
I’m unsure how strong of a role ethnicity plays in identifying Elevate’s target audience, but I wouldn’t dismiss this component either. For example, some religious backgrounds could be accommodated if Elevate were to advertise women-only classes on their platforms to women within the 20-30 year-old age group.
Marital Status/Family type
Generally speaking, I think single, dating, or married individuals (without children) are most likely to attend or purchase memberships for spin classes (and let me tell you, they aren’t cheap!). These are the people who don’t have their funds tied to supporting a family and can make the commitment to attend classes and prioritize their personal health and fitness journey outside of work, their relationships, etc.
Psychographics
Overall, I would say a common interest among this target audience is taking care of themselves. Maybe you feel great about yourself and want to maintain that. Maybe you don’t and want to kickstart a new activity to get you on a better path. Whether you’re a new or seasoned spinner, if you’re in the studio, you’re taking that leap to better yourself mentally and physically.
I also think members of this target audience long to be part of a community. By attending classes, you get to meet new people and build a connection with the instructor(s). Elevate’s social media content leaves you with that “FOMO” (Fear Of Missing Out) feeling by posting engaging polls about the instructors, posting images of the instructors smiling (and sweating) after a class, announcing “theme rides” with fun and creative playlists (i.e.: 90’s music, Drake vs. Kanye, Flashback Friday) – all to show you what you’re missing. Not to mention, those who do attend classes frequently, often post about their experience on social media as well, which is subsequently shared on Elevate’s Instagram stories, further emphasizing the FOMO.
Tools
Elevate is only on Instagram, which can help or hinder the success of their online presence.
On one hand, they use one platform and they use it well, rather than having multiple channels/accounts with inconsistent or mediocre content. On the other hand, they are restricting their reach and online presence, and in a digital era, who wants that?!
Google Trends or an RSS feeder may help with determining what the people are saying and what the competition (i.e.: other local spin studios) is doing well.
Algonquin College Social Media Certificate Program 
Great read, @mpearce2099! Knowing your target audience is so important to be successful with any online marketing campaign. Great overview of demographics, too.