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Business Tips #1 -Understand Your Target Market

Running a business can be a scary, scary deal. Knowing your way around the business world takes off a great chunk of that fear. One of the first things to know is that, you can’t run a successful business without knowing your target market. How do you do this? By answering a few questions.

-What are you selling?

Before you can gauge your target market, you must have an excellent understanding of your product. What exactly is your product or service? How does it fit into the average life of an individual? Which section of the population is most likely to use your product?

-What is your target demographics?

The next step is to understand the demographics for your target population. What is the age range? Gender? Location? Income? Education? And all the factors that define them as a common group.

-Would they actually use your product/service?

How likely are these people to use your product or engage with your service? The best way to do this is through product testing with the group that you think is your target market and another mixed group of people you don’t think are your market. With this, you can easily re-define the demographics of your target market or completely define a new target market.

There you go!

With these questions, you will have a solid market to launch your advertising strategy.