A Simple Start In Determining Your Target Audience
You’ve done it. You started a business or become a part time entrepreneur. Congratulations! Do you know who you’re going to sell your product or services to? In other words who your target audience is.
Entrepreneurs get too excited about what they provide or sell. They often forget to think about who the audience is. Considering who your target audience is helps your business succeed.
Don’t forget the basics
By understanding who your customer is you can understand want your customer wants. It’s supply and demand. A basic principle that most people forget to think about before starting a business.
So how can you determine your target audience? First know the ins and outs of what your providing to people.
Know your product or service
What problem(s) does your service(s) fix? Then you can continue this line and ask who would benefit from this solution the most? The same goes for product based businesses.
To explain it in simple terms, if you are offering an anti-acne product like a soap or a cream, then your target audience would then be people who are suffering from acne breakout and other acne problems.
What is your competitor doing
As you have decided to focus on the same niche, then you can expect that the both of you would have the same target market. This may not always be true but for the most part you can find value looking into your competition.
Look at who is buying and why. Then watch how they advertise to the audience. You should begin connecting the dots around this point.
Define the characteristics of your customers
Think about your typical customer and list down their characteristics like what kind of lifestyle do they have, what age group do they belong, what are their hobbies, in what areas are they residing, how much income do they make, etc.
For example, if you are offering CCTV and other security systems, then your target market are likely to be property owners (both commercial and residential ones) who have properties in areas with a high crime rate.
Trade Shoes With your customer
Another helpful way to understand your audience is to imagine being one. Have some roleplaying exercises with yourself or your partners, if you have any. Pretend you are a customer and try to be as unbiased as possible. Being a critic would be very helpful.
Ask yourself would you be a customer/client?
Questions to ask yourself
- What problem does your service(s) or product(s) solve?
- Who would benefit the most and the least from my service(s) or product(s)?
- Who are the customers/clients of my competition?
- Why do they buy/work with my competition?
- How does my competition promote?
- Where is my audience: online or local?
- Why does my audience need my product(s) or service(s)?
The list can go on. However the 7 questions above will help you get started and brainstorm. In addition, a great way to learn about your audience is through social media. Read: Which social media platform is right for my business.
Finding your target audience will help your business produce revenue. Not knowing who your customer is blinds you.