Once upon a time, two brothers decided to make their father happy. The elder bought fruits while the younger one prepared a meal of roasted goat in red pepper sauce and a chilled glass of palm wine to wash it down. Which of the meal do you think their father would love? Your guess is as good as mine. Yes, the roasted goat in red pepper sauce was their father’s favourite. The father appreciated and blessed the younger brother for raking the time to find out what he loved and for preparing it nicely. The elder brother got angry.
This is the case with business owners today. They go ahead to make offers to clients without knowing what they like. Why are you angry that no one is patronising your business? Have you taken the time to know your customers’ needs and want? This article reveals “How to Know Your Target Market” so that you can provide products and services that will serve their need. There is a way to sell what your customers can't resist. But first we need to understand what target market?
Target Market is the specific group of people you want to reach with your marketing efforts. Target market may be known for a business, brand, location, product, sales or marketing strategies. Most of the times we see some companies conducting surveys among customers in its various markets, asking them to provide information such as age, education, employment, household size, income, status and more. Doing this, the company can create profiles of its particular customers.
How to know your Target Market
To build a solid foundation for your business, you must first identify your business; you must first identify your typical customer and tailor your marketing pitch accordingly. – Mandy Porta.
• Age and Gender: Knowing their age will give insight into what they love and the type of offering you will present to them. For instance, a company selling kids items will appeal more to children. Also know if your business caters for only men, women or both. If they cater for men, know what men want as well as for women or both.
• Location: Knowing their location and where to find them will help you plan marketing that’ll reach them.
• Educational Level: Their education level will say a lot about their mind-set and taste. Always bear this in mind
• Income: Know the income status of your customer. How much do they earn? Can they afford what you are selling?
• Motivations: What keeps them going? What inspires them? What motivates them? You need to know all of these to serve them better.
• Goals: Knowing what their personal and corporate goals are will give insight into creating products and services that will help meet them.
• Brand Affinities: What other brands are they in love with? This will reveal a lot about their taste and help you build your brand into one they will love
Finally, when you have identified your target market, it will be much easier for you to determine where and how to market your company.
Please don’t forget to write your views on the comment box, like and subscribe. Thank you❤
Good one