How to Identify Your Target Market

How to IDENTIFY YOUR TARGET MARKET Analyse your product/service. Make a comprehensive list of the benefits related to your product or service. For example, if you're a web designer, the service you provide will benefit potential clients by increasing their customer-base, helping them to expand and create a professional image for the business. A good place to start would be to then actively seek out businesses that are in the process of expansion, along with all of the other items you have listed. Choose a demographic. The demographic you come up with should include the fype of people who need your product or service as well as those who are most likely to buy. Here are some examples of what to look for: Age Income Ethnic Background Gender Education Family Status Location Marital Status Occupation Study the psychographics. After securing your demographic, the next step is to delve deeper into their lives. To do this you'll need to find out things like their personality, values, lifestyles or behaviour for example. This way you can establish whether your product or service will indeed fit into a potential client's lifestyle, how it will fit in and what it is exactly that appeals to them. What's more, at this stage you can work out marketing strategies related to their habits. Keep asking questions. Throughout the whole process you should be evaluating whether potential targets really could be your customers. Do this by asking questions, such as: - Are there enough people in this group? - Can they afford what I'm offering? - Will they actually benefit from my product/service? - Can I reach out to them easily? PREMIUM LEAFLETS Source: http://www.inc.com/guides/2010/06/defining-your-target-market.html