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Before starting a business or blog, it is important that as a business owner you determine your target market. Target market? What in the world is that? Well, to put it simply, it describes your ideal client or customer. That is those clients and customers who will benefit from what services or products that you offer. Here are questions you need to answer as well as ways that can help you when identifying a target market for your business.
First, let’s take a quick look at those of you who have an established business. One of the best ways to zone in on your potential customer is by analyzing your current customers. Identify who your customers are. What age are your customers? Are they male or female? Are they stay-at-home moms, or working entrepreneurs who want to quit their 9 to 5 to work from home? List some of the benefits your product or service offered to them. How did it help solve their problem or goal? Existing customers hold a wealth of information that you can use to determine your target market!
Finding out who your ideal target market is, is by far one of the most important aspects of starting your business. Your marketing time needs to be spent on those people who will benefit from your products and services. You do not want to waste valuable time and money marketing to the wrong people.
You can ask yourself similar questions as established businesses would (noted above). Start by answering these questions. What is their age range? Are they millennials, baby boomers, or Gen Z’s? Are they local or nationwide? What are their occupation and family income? Their hobbies? What do they spend money on?
For example, if your potential customer is Gen Z’s then you could use TikTok to market your business. However, if they are baby boomers, they are more apt to hang out on Facebook.
By determining what help or what goal your ideal customer is trying to achieve will help your marketing tactics. What does your ideal customer need help with? How will your products or services help your ideal customer? Will it help resolve an issue they’re having? What problems can it solve for them?
For example, if you are a Wedding Planner who helps brides-to-be who are on a budget, then your ideal customer may be someone who thinks they cannot have a beautiful wedding because their budget is limited. So, they will look to you for advice.
Conduct research using answers from what you have composed from the above questions. Take to social media to see where your potential customers hang out online. If your potential customer is predominately on Instagram, then concentrate your marketing efforts on Instagram. If they hang out on Facebook, consider starting a Facebook group and market to those users.
By establishing who your potential customer is and how they act can also assist in helping create long-lasting relationships with them. They will be eager to receive updates about new products, or even professional tips they can use to improve the service or product they purchased. Keeping in touch with your customer base is so important. Be consistent when sharing information such as emails or social media posts. Remember, they see you as the expert in the field, and staying in contact shows them that you actually care about them. I hope this helps you when identifying a target market for your business.
For more business tips and how to run your online business, see Business Tips.
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