How To Find Your Target Market

Business Owner Thoughts

Owning a business means long days, hours and working to finish the killer service or product you offer your customers and clients. The problem that arises for many business owners is how to intro the product or service that you offer to the right people. It is simple to develop advertising that goes out to everyone, but this isn’t budget friendly nor is it necessary. You don’t want to offer your makeup products to middle age men generally, so why send them an ad? Take the extra time to market to the right clientele and you will find that it is worth it when you see the results.

Knowing your market

Advertising a child’s toy to a grown man or woman without children rather than to the couple with three kids is silly. When we at Seven Networking create a listing, we don’t place a business in a category that is unrelated, if we did, you would never find what you were looking for! When you are aware of the market that you need to reach and the right time to reach them, you will see a greater return rate for your marketing.

Focus & Be Determined

Narrow the gaze down a bit, or in a word, prioritize. Here are a few tips on what to focus and prioritize for your marketing. Who is going to need or use your product? Focus in on the details here, what age, what gender, what income range, what location, and are they married or single? These factors are important to determine as a single parent of three will have different needs and tastes than a newly graduated high school or college student.

Now narrow this audience down. Start with gender, is your product gender-specific? If so you can narrow your market by that, then move on to age. What age range do you want to sell to? Then take a moment to explore income level, the person buying the  Gucci label is not going to be the same market as those that thrift shop or look for the best deals. This will really help you to focus in on your target market for your services or products.

Survey & Gather Data

Finding out what your target market is takes gathering a bit of data and surveying groups based on the data you get. You can conduct email blasts, newsletters, or surveys to find out what the public think of your products and services. If there are other services or products similar to what you’re going to be marketing, be sure to do your research on what results these companies are getting. They will give you a host of data for your target market. Take advantage of the friends and family you have and ask them to test your products or services. Ask them if they would buy what you are selling. Have them be a focus group for your idea. There are also colleagues and other people you know that fit in this category. Take every advantage you can and grow your network for the products or services you have to offer!

Karen