2. Know your Target Market
Now that you know what product you are selling, you need to understand your target market. Your target market defines the group of people whom your product is aimed at. Knowing your target market will help you focus all your marketing strategies at this group, rather than wasting time and resources aiming your product at random people. It plays a good role in improving the quality of your product, and it is also a cost-effective way of increasing your sales. Target marketing can be geographical, that is, focusing on the locations the products’ ideal customers are based. It can also be based on demographic pointers such as gender, age, income level, marital status, education, race, and religion. Your target market could also be people with a particular lifestyle like fitness enthusiasts, vegetarians, among others.
Your target market must be thoroughly researched if you want to succeed, conduct surveys if you have to. Knowing your target market will help you know what advertising medium to use, what social media platform to prioritize, how to design your product, and so on. For example, if your product is targeted at kids, you could make it more kid-friendly. Your ads will be more offline than online, and if at all you decide to take it online you could do so with the parents of these kids as the focus.
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