17 Dec 6 Ways To Find Your Target Market
It almost goes without saying, but your SMB business or start up has to sell something that people actually want to buy. The closer you identify and aim towards your ideal customers, the better your business results will be. Here are the simple steps you can take to know who that market is and what they need.
What Are the Problems You Solve?
Nobody is going to buy a solution to a problem they don’t have. But if you can solve a specific problem, you’ll have a built-in target market lining up at your door to solve it. To narrow in on that problem, get to know the pain and frustration that problem causes for them. Is it restricting them from something?
Can You Describe Your Target Customer?
You can’t just say “The Average Everyday Man”, because if you target everybody, you’re going to appeal to nobody. What are their routines? What do they really love? What do they really hate? Where do they live? Do they have families? Describe an actual example of a person to narrow down your search.
Which of Your Target Customers Will Love You Most?
Figure out which of your target market will suffer the most if they don’t have your business in their life. If you didn’t exist, who would notice it the most? Think about aspects like emotional stress, reputation damage, loss of income, loss of opportunity and many more factors here.
Which Niche Would You Love To Help?
Personalized products that suit exact needs is what potential clients demand. Everything today is personanilized, we ask for tailored programming from Netflix, personalized clothing, cars and much more. Customers are willing to pay more for something that is tailored to them.
It might seem counterintuitive to narrow down your market to just one niche, but if you can be the big fish in that small pond, your business will thrive.
What Is Your Specific Expertise?
Think about where you are known as the expert. You could be very good at relating to lawyers. You could speak fluent “golf-ese”. You could know all there is to know about a certain geographical area. Thinking about your expertise helps you decide which groups to target, sharing your specific expertise with them.
Who Else Does What You Do?
It’s tempting to want no competitors, but that can mean that nobody wants what you’re selling. Instead, identify who offers something similar to you, how do they do it, and what can you do better? Because if the competition exists, you can determine which market wants what they offer.
Creating an ideal target customer and a persona of who that person is provides a crucial first step, in any marketing plan. Without this strategic step in place your marketing campaigns are not targeted and will not be efficient in delivering results.