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Finding Your Target Market and Using It To Your Benefit

The most important task for any small business is to find their target market. It lays the

foundation of your marketing strategy. Knowing your market will change everything, from the name of your services or products to the different marketing channels that you will use to promote your business.

What you should keep in mind is that not everyone is in your target audience. You must identify your unique niche that actually see value in your services and are willing to pay you what you're asking.

Knowing your target audience will not only bring you more money but it will also save you money. Having a targeted audience for your ads will increase your conversions because your ads won't be displayed to people who aren't interested in your services. If you can clearly define your target group, you will be able to better understand their

interests, and how to convert them.

There are 6 steps that can help you find your target market and how to use this data to your benefit:

1. Data of Current Customers

People who are already buying your services or products are the ones you need to start

with. Understanding the characteristics of your current customers will help you find the

similar new ones. Whatever information is available about your existing customers is an asset for you. Make a database of the information so you can track averages and trends.

Following are the points that you should know about your existing customers:

 Age

 Language

 Location

 Spending power

 Stage of life

 Interests

Your categories should look different if you are selling B2B services or products.

In that case, you should collect information about:

 Size of businesses

 People who make the buying decisions

2. Social Media Analytics

In this modern era, the right way to look for the information about your customers is social media analytics. It will also tell you who is visiting your social media accounts even when they are not buying anything from you.

The following social media platforms are the most popular ones: