7 Steps for Defining Your Target Market
Defining your target market is an essential component in laying a foundation for your business. When you identify your typical customer, it allows you to laser focus on that specific market and create relevant messaging. One of the biggest mistakes a business makes is trying to appeal to everyone. You can never be all things to all people.
How to Define Your Target Market
1. Look at your current customer base. What do they buy from you? What do they like about your brand? What are their common interests and characteristics? Find other people similar to them.
2. Understand problems you solve. When you know what it is you do well, you’ll know who will best benefit from your product or service.
3. Analyze your product/service. List the benefits of your brand item. What does it fulfill? Now make a list of people who would benefit from that.
4. Find your niche. You are not like everyone else. Even if what you do or what you sell is very similar, identify a unique feature that serves the specific customers you want.
5. Check out your competition. Find out what they are doing and don’t go after the same market. What makes your product or service better than anyone else? Your target audience will want that.
6. Choose specific demographics to target. The more specific you get, the better. Ask:
- How old?
- Male or Female?
- Where they live?
- What are their buying habits?
- How do they consume info?
- What content works best?
7. Identify your target’s motivations. Once you understand your target, think about what gets them to engage and buy. Why will they read something? Why will they click? What makes them turn to you?
Bonus: Create personas. Don’t be general about it. Put together a composite sketch of a person or people based on the key segments of your audience. Naming them and identifying everything about them lessens the guessing game. Plus, everyone on your team will understand when you say, “We’re selling to James Frasier. He’s 32, lives in a condo in Santa Monica and only buys organic food”
Need help defining your target audience? At T.E. Digital, we do digital differently and can help. Give us a call and we’ll explain how.