RESEARCH. The first and most important step in determining your target customer is to study your market and determine your product features. Focus your branding and marketing strategies on a specific group of people who genuinely have a need, want, or interest in your company.
TO DO: List all of your findings and product features on a piece of paper to then identify your target customer.
Below are the typical attributes to determining a target customer/market.
- Demographics - age, gender, location, income level, marital status, etc.
- Psychographics - values, attitudes, beliefs, pain points, etc.
- Lifestyle - geographic location, travel, leisure activities
- Purchase Habits - brand loyalty, impulse buyer vs. saver, price awareness, etc.
- Customer Need (very important) - Needs are stronger than wants and a customer is willing to hand over their money for that thing that meets their needs.
Once you have listed out your product benefits, solutions and who will purchase, you can now choose the best form of marketing for a specific group. This allows you to focus on some, not all and help you stand apart from the competition.