Identifying your Target Market
Once your business is up and running and ready to go you’ll need to introduce it to people.
It’s easy enough to introduce your products or services to everyone but is that effective? Will everyone have a need for your product or service? The answer is more than likely no. Segmenting your audience and figuring out what type of audience actually need or want your products or services will be a lot more effective.
First things first, you need to decide what demographics, psychographics, geographic's, etc. your audience can be placed in
Having a rough idea will help you in terms of the next few steps in finding your real target audience. This can be as vague or as specific as you want to begin with, for example in regards to age you can simply pick a large age range at this stage and filter it down as you go on or if you’re confident on the age for your product or service, you may have a specific age already chosen.
Sharpening your focus will make your marketing efforts a lot more efficient and effective
You need to determine what needs your product fulfills and who is most likely to have those needs. It may be useful to use a funnel approach, narrowing your audience down by one thing at a time, for example if your product or service is gender specific, this immediately narrows your audience down. Figure out the core values of your product or service, then link these core values to different demographic groups that may find these values important.
It’s crucial to get as much data as you can
Whilst it may be easy to take guesses on your audience and who your audience could be, it’s much better to draw conclusions from real data. You can gather your own primary data from things like surveys or questionnaires. The key to these surveys or questionnaires is to collect the data you need. Another option may be using secondary data. It’s always good to do your research anyway, but researching into audiences for your competitors will help you see their patterns in terms of social media, etc. Gather views of the different audience types/members and use these views to your advantage. One of the easiest options would be asking friends or family to help you. You can ask them questions related to your product or service and get a second opinion on audiences or how you can attract people.
Making sure you have a clear definition of your target audience and who your product or service will appeal to is vital.
Without this clear definition, your marketing efforts will become less efficient as they may simply be a shout into the void, with no clear audience. Not having a clear audience when it comes to marketing means those who are actually interested in your product may not see you as you’re not targeting your marketing towards them in particular.
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