Identifying Your Target Market
Identifying your target market can be really frustrating. Where do you begin? If you have launched a new product or website recently, then targeting the right audience is one of your most important goals. If you are selling bananas and are not attracting monkeys, then what are you doing wrong? Many different aspects should be considered when you are identifying your actual target market.
The best way to describe this process is to understand that you are trying to identify a target in which your product will sell and excel at its best. Another example would be putting an expensive restaurant that has an expensive menu right smack in the middle of “the hood.”
The people who live there would not be able to afford your food and your business would not be successful.
What is your target audience?
The best place to start in this process is to decide who you want to reach with your products. Is your target a group of young moms or a group of older moms? These are crucial points that could eventually make or break your business. It is worth spending money to identify who your product will sell its best to? Yes! You can conduct small market researchwithin your company for a small cost.
How do you find your target audience?
Everyone knows that your customers are not going to find you on their own. Most products are found through advertisement and word of mouth. You need to find a way to reach out to your target audience and catch their attention. There may be 101 products like yours but what makes yours different? Find your target audience by meeting them on their level and seeing what their ultimate needs are.
What is working for other companies?
Thousands of companies are identifying with their target audience and making sales. How can that be you? Figure out what is working for those companies. This does not mean copycat their system. However, you should research what is working for them and how they have become so successful. Those companies have most likely stepped out of the box and found a creative way to target their audience.
Is there a secret to identifying your target audience?
No, there is not a secret to identifying your target audience. Sometimes this is a process that your company has to figure out with trial and error. Some of the best advice that Cheeky Monkey Media can tell you is to: research your target, find your target and identify your target. Creativity is your number one tool in finding success in identifying your ideal target.