25/11/2021
How do you identify your target market?
At this point you obviously have an idea; a product or service and you want to bring it to life. You want to establish your brand and you want to show the world what you’ve done and what you can do.
There are three steps to identifying your market:
1. Identify why a customer would want to purchase your product or service- What makes you, your brand and what you are offering so unique. What are you offering that no one else can offer? What makes you stand out. Why would someone need or want this product/service?
2. Segment your overall market- Divide your market into segmentations of existing and potential customers. Divide these into subgroups based on some type of shared characteristic.
3. Research your market- Understand this market, learn everything you need to know.
This will give you a clear understanding of who you are selling to and what they are looking for. It will allow your business to grow and develop and will also allow you to, in the future, expand.