It is a common practice for business owners first to find or develop a product and then find buyers.
But the quickest and easiest way is first to target a niche market and then find out what they need before you provide a product or service to satisfy that need.
Below are a few questions to consider in this infographic that will help you figure out your target market before you focus on your product or service.
Share this Image On Your Site
Who is most likely to use your product or service and who is not? Do you know what demographic to attract and what specific demographic to avoid?
Who are your current customers, and why do they buy from you? What requirements does your product or service fulfil in their life of your customers?
Where do your potential customers hang out online? Any website or blogs attracting the target audience that you can use for advertising purposes?If you can’t see a clear way to reach your market efficiently online, it isn’t the right market for you! Click To Tweet
Which of your existing customers bring in the most business? How do you gather marketing data from your customers?
Who are your competitors targeting and who are their current customers? What’s their market positioning? How about their pricing?
Do you feel there are enough potential customers within your target audience to start a brand new business? Will they come back repeatedly to purchase?
Don’t go after the same market but dig deeper to find a niche market. If you can’t see a clear way to reach this market efficiently online, that isn’t the market for you.
Now over to you! Have you figured out your target market before you focus on your product or service? Need help? Schedule your marketing consultation session now!
If you’ve found this post of value, please share it with your friends using the buttons on this page. Till next time.