Traditionally, defining a target audience involves determining their age, sex, geographic locations, and especially their needs (aka pain points). Check out usability.gov’s description of personas and how to do task analysis & scenarios for more details, or better yet, read Vanessa Fox’s upcoming book about personas related to search and conversion.

Tailwind is a super simple yet supremely powerful content scheduling solution for Pinterest and Instagram. You can use it to save time with bulk image upload, really easy drag and drop calendar, multi-board pinning and pin looping, hashtag lists, and more. Plus, you can automatically optimize your Pinterest and Instagram schedules based on when your audience is most engaged.
For example, let’s say I have a health site. I have several types of articles on health, drug information, and information on types of diseases and conditions. My angle on the site is that I’m targeting seniors. If I find out seniors are primarily interested in information on prescription drug plans and cheap blood pressure medication, then I know that I want to provide information specifically on those things. This allows me to hone in on that market’s needs and de-prioritize or bypass other content.

For example, let’s say I have a health site. I have several types of articles on health, drug information, and information on types of diseases and conditions. My angle on the site is that I’m targeting seniors. If I find out seniors are primarily interested in information on prescription drug plans and cheap blood pressure medication, then I know that I want to provide information specifically on those things. This allows me to hone in on that market’s needs and de-prioritize or bypass other content.
Want to see all of the images on a Web page along with their size, alt text, and a real-size display of the image? How about a list of all of your page links: external links, internal links, style sheets, XML, and other assets? Do you know which ones aren't working? Among our free SEO tools, this one is always popular for its multipurpose functionality!

This was all free information I found online in less than an hour, that gives me some great ideas for content, partnerships and potential tools to build into my site to be relevant and useful to my target audience. Of course this is just some quick loose data, so I'll emphasize again: be careful where your data comes from (try to validate when possible), and think about how to use your data wisely.
If you havent see it already, check out the links in shor's comment below - there are some great resources in there. In some cases you can also consider surveying your current audience or customers through email, on-site surveys or SurveyMonkey.  Be sure to ask for some profiling information that you can use for determining specific persona needs like age, sex, location, etc. (Probably best not to make it sound like a creepy text chat like I just did though...)  :)
This is excellent and should be intuitive for marketers (and SEO pros are marketers!) but we often take the short cut and neglect critical details. What would also reinforce the strategy is way of providing solid projections for SEO (these could be based on industry trends and statistics). Clients now ask for ways to calculate ROI and they need numbers to get budget approvals. Increase in traffic by X,  increase in qualified traffic and leads, conversions etc, some way of quatifying the expected return.
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