One of the great challenges when opening up a new business is working out who we should be targeting our products to, and how we can reach them in the wide market. Target audience is a crucial part of successful business because it allows you to sell your product or service to people who truly want the product and people who will benefit the most from it.
But how can you find your target audience?
Understand the problem you solve
The first rule of successful sales is to not sell the product itself, but instead to sell the problem it can solve for the consumer. For example if you were selling a cordless vacuum cleaner to your audience, you can say that it solves the problem of having a hefty machine with cables being dragged around the house behind you. Now that you know what problem this solves you can say that this product should be targeted at people who own a home. Typically this will be adults from the age of 25 and upwards. There is no point showing this to a teenager because they will never need it.
Imagine your target customer
Now that you have your issue you can start to build a clearer picture of the people who may benefit from the item you have to sell. If you are selling makeup or hair products you will be wanting to aim this at women, and particularly at the younger generation because it is popular amongst the ages of 16-25. By narrowing down your search you can start to see the kind of people you are talking to. If you have a website already you can even use an Anonymous Visitor Identification system to see what kind of people visit your website and see who seems to be interested in which products. This can help you refine your marketing and sales techniques.
Niche markets are something which are on the rise these days because people have much more choice over what they do, what they buy and the way they live their lives. If you can find a niche and use that to your advantage you will suddenly be surrounded by loyal customers who believe in your product and who love everything that you do. For example, you might notice that many vegan people live a lifestyle which is also cruelty free. This applies to makeup and cosmetic products and also clothing. If you can find a way to make products without testing on animals or running a sweatshop, you can market yourself as a vegan manufacturer and immediately gain interest in the community for your ethics. This will bring you a loyal following who love your company and will share your positive message.
What’s your expertise?
The best way you can decide what market you want to work within is to think about who you are and who your employees are. If you are all men over the age of 50, then running a fashion brand for young women probably isn’t going to be your strength. Think about the things that you experience in your own day to day life and this might help you to come up with a product that will appeal to similar people as yourself. Run polls on social media to see if people struggle in certain areas of life and take note of what you are good at in your business.
Who are your competitors?
Once you have formulated a plan for your business and then worked out who your target audience is going to be, you need to take a look at the market and scope out your competitors. The only way you will ever stand out from the crowd among many others is to offer something special, something unique and something which none of the other companies do. It pays to take the time to look at your competitors and see what kind of things they sell, how they promotes their items and the way they speak on social media.
This will enable you to go one step better and grab your target audience’s attention. Take some time to refine your own brand and make it stand out as well as offering the best quality products you possibly can. It might even be a good idea to send your product to a few influencers and get the ball rolling with dragging them in. This will bring attention to your brand and you will gain your loyal following in no time.