Finding and understanding your target market is an important component for all businesses and entrepreneurs. Knowing who is your target audience helps lead generation.
If you are a business or entrepreneurs looking for your potential customers, you can start off by doing simple target market research! Whether done in a formal or informal manner, target market research is one of the best ways to start finding your audience.
Here are 4 simple steps:
- Gather general information about the users and different platforms. Have a general understanding of different types of websites or mobile app users. Pay attention to user habits, different age groups, image usage, how to navigate, and etc. Also get to know about different social media platforms and research engines. They all have a great amount of traffic flow, and they are definitely the best advertising platforms today.
- Check out your competition. Assess what you like and what you don’t like. Avoid the mistakes, and apply the things you like to your project. Now you have a pretty rough estimate about who your ideal customer is.
- Design an ad, and make sure it engages your customers, this will help you understand your customers in more depth. Then run a few ads on social media or search engines. For example, Facebook Ad, Instagram Ad or Google AdSence. Increase traffic and collect analytics.
- Ask questions about the analytics and what you can do with them. For example, do they live in the suburbs or countryside (if your business requires target location)? Do they have any particular hobbies or interests? Are any colors or graphic images particularly appealing to the target audience? Write down these notes with many adjectives!
Now you can summarize everything you researched about, then you will be much closer to your audience. With the market research you have done now, you can take a customer’s perspective to find out what he/she truly is looking for.
You can also educate your target audience by defining the true benefits. Make them realize the value of your product and service. When it comes to future advertising, it helps to design, engage and advertise more precisely and accurately.