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10 March 2021
To achieve business success, it’s vital that you define your customers, understand the problem they are looking to solve and are aware of the wider marketplace, so that you can ensure your marketing messages are engaging and relevant to your target market.
Ask yourself the following three questions to help identify your target market and give your business a boost.
1. What do you know about your customers?
Demographic data and customer profiling are vital to determining your target market.
Take a look at your current customers; think about their age, income and occupation. By gathering as much information as possible, you can start to identify your ‘perfect customer’ then do everything you can to find more of the same. With a well-defined description of your ideal customer, you know exactly who to sell to, what they need and how to convince them they should buy from you.
2. What problem does your service or product solve?
Take a look at your service or product’s features and the benefits that they provide. How do these benefits solve your market’s problem? People don’t buy a service or product – they buy a solution. By understanding a problem and its solution, you’ll be well on your way to finding the customer that needs what you offer.
3. What is the competition like?
Competition is a great thing, it’s healthy for your business and also indicates a viable market.
Just as you are researching your demographic, make sure you’re also doing your research into your competition. Find out about who your competitors are, who they are marketing to and how. The more successful competitors in a market are definitely worth studying because they’re attracting the specific people that could potentially become your customers.
Once you know your target market, you can start to build a relationship with them and identify the best way to speak to them. If you are still struggling to define your target market, we can help. Give us a call on 01565 632 112 or email us at enquiries@boxedred.com