Who is your target market? What are their demographics and psychographics? Why do they want your product?
All of these were such easy questions for me to ask (though extremely vital for any project), until the day I had to answer them myself…. That day was nearly 5 months ago now!
Well this week is the week I determine my target audience and finalize my rebrand of Designflair. Here are some of the questions I am asking myself to determine which market needs my services the most.
Where is There a Market Need?
- Don’t try to create a market to suit your own preferences and choices. Look at the market and see what voids need filling; there will always be a niche target market.
- Look for unmet needs and desires.
- Look for a reason or purpose for your business to exist.
- Even better, look for a business that others would be interested in investing in.
What are the Problems Caused by This Need?
- What doesn’t work properly?
- What difficulties are people trying to overcome in this niche?
- What makes people angry/upset/worried?
Describe the Pain.
- What Pain does the Problem create? Why?
- Who are these people experiencing pain?
- What are common traits or characteristics?
- (Details, these people are your target market.)
Develop Your Product or Service
- Based on the above Problems and Pains, develop your product or service.
- Focus on alleviating the Pain, this leads to stronger positive reactions.
- Look at current solutions available/competition and develop options that are better.
Develop Your Message.
- Explain how your product or service solves your target market’s pain.
- Explain your Unique Selling Proposition (USP), this is what sets your business apart from your competition.
- List your features and benefits.
- Explain how these benefits help your customer’s Pain.
Questions to Ask
- Why should they use your business?
As you can see, determining your target market quickly merges into determining your marketing message or USP. In a way, the two are intertwined; if you can’t differentiate yourself or give your target market a reason to use you over your competitors, you really don’t have a product to sell or a target market to reach. You don’t have a niche market and you aren’t fulfilling a need.
And without either a target market or a marketing message, you can’t create a brand. So this puts me back at finalizing my market and message to finalize my rebrand of Designflair.