Here are our 3 top tips to help you define your target market:
1. Research Your Current Customer Base. Look at the common characteristics and interests of your current customers, in particular: who are they and why do they buy from you? It's quite likely that other consumers similar to them could also benefit from your product/service.
2. It's always beneficial for any business to have a look at your Competition. Look at your competitors who are they targeting? And who are their current customers? Then see if you can find any a niche market within your industry that they are neglecting.
3. It is now time to analyse your Product/Service. Take another look at what you are offering your customers. Write out a list of each feature of your product or service. Next to each feature list the benefits they have – then the benefits of those benefits. Once you have this make a list of consumers that have a need which your benefit fulfils. This may be a bit general but you now have a great start.
Stay tuned for some more helpful tips!!
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