You have to craft a specific set of people whom you will market and sell your products to. These people are called your target market. Knowing your target market is essential to the success of your business because, in order to sell your product/services to people, you need to understand them. So, selecting a market will help you focus your research on a particular set of people rather than everybody. Including people who have no business with your product or service. Finding a clearly defined audience will help you to strategies your marketing efforts more effectively. It will help you know where to find this audience so that you can market your product or services to them
Regardless of the nature of your business, Write your Responses to the below queries and you will gain a better understanding of your target market:
- Define The Unique Features In Your Product/Service.
One individual may face different types of problems. Find out which of the problems you want to eliminate. Is it relationship issues? Job issues? Laundry issues? Hearing issues? Yes, these are the type of questions you should ask yourself in order to get concise and specific answers.
- Identify Their Gender.
Male, female, or both?
- What Is Their Age Range?
Are they old people or young people? Write down their age brackets. For example, Student Ages 18-30. Women Ages 25-45. Etc.
- Where Are They Located?
You need to decide whether you want to target only the audience in your immediate geographic location or audience in a distant geographic location. Is your business limited to a specific kind of community or area? (Natural or self-imposed?)
- What Is The Nature Of Their Work?
Are they corporate professionals, attorneys, entrepreneurs, or doctors? What’s their profession?
- Identify Their Socio-Economic Status.
Do they belong to the upper class, the middle class or the lower class?
- Identify Where They Spend Their Leisure Time.
Do they go to the movies or dinner often? Do they spend much of their time on social media? Facebook, Instagram or Twitter? You can make some assumptions for now but as time goes on, you will understand your audience better.
- Know The Associations They Belong To.
Online or offline, when researching your target market, you have to know the type of associations or organizations that your target audience associates with. Once identified these can be excellent marketing places.
- Understand Their Media Habits.
Do they read the newspaper or magazines? Do they listen to the Radio? Find out which of the stations. What about the TV? What are their favorite programs? Do they spend time on the internet? Which websites do they visit? How do you think they get entertainment? These are all places with good marketing potential.
Lastly, the purpose of understanding your target market is to understand the marketing strategies that are just perfect for your startup. It will help you put out a marketing piece that speaks directly to your customers, and it will also give you the best channel to use for advertising your products/services.