How To Identify Your Target Market
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When the topic of marketing comes up the next thing that follows is people telling you that you have to identify your target market. We have all heard the old adage by Meredith Hill and countless others, “When you speak to everyone, you speak to no one.” So how do you identify your target market? The best way to answer that question is to start with defining what is a target market? It sounds complex and highly technical but it boils down to selecting who is the ideal customer that you want to sell your service or product to.
Investopedia states that “A target market refers to a group of customers to whom a company wants to sell its products or services, and to whom it directs its marketing efforts.” In addition, “Consumers who make up a target market share similar characteristics including geography, buying power, demographics, and incomes.” The process of identifying your target market is a critical step in developing your marketing strategy for your business. Marketing campaign efforts can get expensive if you don’t have a clear understanding of who your services or products will appeal to and where those folks might congregate online.
How To Identify Your Target Market
Here are a few steps that will help you to identify your target market:
Determine what problem you are trying to solve with your product or service
Brainstorm what type of people would be most attracted to what your selling
Choose who you would most like to work with
Do Market Research
Check out the competition to see who they are targeting to get some ideas flowing
Create your marketing message
Test it out
This list could go on forever but the main idea is to get started on the journey. I hope that these tips will help you to identify your target market and to start sharing your product or services with those who value it.
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