In this lesson, you will learn about:
- Identify the demand for your product
- Find your target market
- Learn how to target your market
The first thing to do before we dive head-first into marketing is to define your target market. We want to try to figure out who those people are who really want or need whatever it is you’re offering online. For instance, my Great Uncle Morty in Nebraska is probably not looking for surfboard wax online. Shredding some waves in the midwest on the weekend is just not his bag! By taking some time to identify YOUR market means that you will be able to EFFICIENTLY use your marketing resources. You’ll also be able to really WOW those potential customers by catering to them as you promote and grow your business.
The first step is to identify the need for your product or service or perhaps the problem it solves. That’s just basic business!
Then, refine your market by identifying people who have bought your product or service before. If are just starting a business, you can take a look at your competitors to generate some ideas around typical traits your potential customers may have.
As you are gathering intel ask yourself if you are making any assumptions - assumptions are nogoodsky. For example, if you want to start a home decor business, you might know everything there is to know about the industry but your target customer might not. They might call embossed wallpaper, “that textured wallpaper” or “wallpaper with bumpy things on it.” Yeah, conducting solid research at the start of things is REALLY going to help you as well as your customers.
As your business grows you should continue to evaluate, and possibly change, your target market. Heck, down the road you may want to expand your business’s reach and sell internationally.
Or, you might think you are catering to teens, when in all actuality, it’s Moms shopping for their teens. Knowing who you’re targeting, and continually refining it, can ensure that you’re consistently on the right track for growth.
So, whether you’re having a little trouble getting started or if you have been running your business for awhile, we recommend you answer the questions located we have placed in the additional resources section below. These questions will help be certain you have the right target market in your crosshairs to ENSURE you sell more with us here at Bigcommerce.