You may think that having a successful business is based around how much marketing or advertising someone does, how well they handle customer service, or some other reason. You may be surprised to learn that having a profitable business can simply come down to determining what your target market wants and what their needs are.
Your target market is the group of people that you are marketing your products and services to. Not everyone will want to buy your product or service. For instance, your whole town does not drive one type of car.
There are some people who prefer sporty sedans, and there are some who want minivans, and there are others who want SUVs. And then there are the people who want trucks, or motorcycles, or what have you. The point is, different segments of the population want and need different things.
To be successful, you will need to determine what your target market wants and needs, and then you will want to provide it for them. If you happen to be in your target market, you are off to a good start. You can start thinking about the things you want.
Now, if you are not directly a part of your target market, you can start off by putting yourself in their shoes. What do you think they would want? Picture yourself living a day in their life and imagine what types of products or services could make their lives easier.
You can also study the competition. Look at other products that are aimed at your target market and compare your products or services. What features and benefits can you offer that will give you an edge over the competition?
Try to find some websites that are dedicated to your target market and spy on them through the websites’ forums. You can learn a lot about your target market and what they are looking for by using this tactic.
Don’t forget to simply ask your target market what they want. You can create a form on your website that asks some basic questions about their needs and what they would like to see in the type of product or service you offer. Start asking your visitors or the people on your mailing list to fill out the questionnaire.
This is a great way to find out exactly what your target market wants and needs. Once you have that data, you can create the product or service to fill their needs. Since you already have their names and email addresses (from when they filled out the form in the first place), you can email them and let them know when the new product is ready. This could be a great way to jump start your sales.
Julianne Alvarez-Wish is a military wife, mother, business owner, professional writer, blogger and legislative advocate. She is the Colorado State Leader for the National Association for Moms in Business and the owner of The Wish Place. She is the Colorado Springs Stay-at-Home Mom Examiner for Examiner.com. She also blogs at A Wishful Thought. Her passion, purpose and goal is to help parents work from home so they can be home with their children.