How to Identify Your Target Market
As a business owner, it’s essential that you identify, find and attract your target market.
If you don’t, your profits are likely to suffer and you’ll waste valuable time and money promoting your business to the wrong people.
With the economy low and times hard, it’s absolutely imperative that you find the right market, and that you find them quickly.
It’s a fundamental key that all business owners know but finding your target market can be hard without the right knowledge and the right approach.
Luckily for you, we’ve been working with London businesses for many years. Here are some top tips to help you find your target market:
Hugely specific. Don’t just target ‘gymgoers’ or ‘people with pets’.
Instead, target, say, people between the age of 20 and 30 who live in London and earn a certain amount of money… with a particular interest in what you’re buying. The more specific you are about who you’re targeting, the more you’ll focus in on what they really want. And the more you’ll appeal to their needs and wants. Because London is such a big city, your marketing and advertising needs to be hugely specific.
Think about the service you provide and the problems your products solve. Who is most likely to suffer from these problems? They are the people you should be targeting.
Look at your current customer base
Who are they? What do they do? What do they want? Do real research on who you’re currently selling to. Likewise, who are your competitors targeting?
Think about the personality characteristics of your target market. Where do they work? What are their hobbies? What are their attitudes? Their political persuasions?
What are the specifics of your business?
You may, for example, be an online IT support business. But, you’ll want to focus on your best offerings… so think about your niches and your expertise. When you identify those niches, you can further identify who could benefit from using them.
When you’ve defined these specifics, you then need to decide how to reach your target market. And with all businesses, whether big or small, it’s essential to consider print marketing, which reaches a massive audience.
It also reaches exactly who you want it to and finds your target market wherever they spend their time and money. Time and time again, research has shown that print marketing reaches a bigger audience than online marketing… and that its audience can be targeted more specifically in many cases.
For help with reaching your perfect audience get in touch with us. We’ll arrange all the materials you need to reach your audience where they are.
We craft flyers, leaflets, large prints, banners, posters, business cards and more. To find your target market, find us!