There are more than 7 billion people in the world! It can be overwhelming to think about selling to all of them. If you are doing that stop, stop right now!
Take the time to identify the target market that is right for your brand.
What exactly is a target market? It is pretty simple actually. It is defined as a particular group of consumers at which a product or service is aimed. The whole goal of identifying your target market is to help you attract the customers that want to buy what you are selling.
Maybe you are creating a really niche product, like quick dry, cycling shorts for triathletes or maybe you are creating more of a mass market product like a line of t-shirts.
With either scenario (or anything in-between) you will want to take the following steps to really carve out your market and be able to speak directly to your ideal customers!
Start with demographics. This is the statistical information you want to know about your customer.
Some key things to consider are:
- Age or Age Range
- Marital Status
Once you have your demographics clearly defined, start thinking about the psychographics. This is where you dive deep, get specific and really focus on who your customer is at their core. It’s all about the details!
Define the following at this step:
- Values + Opinions
- Shopping Habits
- Interests + Hobbies
- Lifestyle + Behavior
- What Makes them Unique
NOW LET’S TIE IT ALL TOGETHER:
A DAY IN THE LIFE.
1. Select one person from your market. This could be someone you actually know or a fictional customer that has all of the demographic and psychographic traits you just laid out.
2. Name them! Sally, Jeff, Veronica, Jose, whatever you feel fits them best.
3. Think about an average day in the life of this perfect customer.
4. Write it down, map it out, create a story about how this person goes about their day. Really get into it, how do they commute to work, what do they do to relax, do they work out?
5. Analyze the results and how your product can help them in their everyday life.
6. Celebrate! You now know exactly who you are creating and designing for. Any decision made from this point forward will have to be run by Sally, Jeff, Veronica or Jose and will have to pass the test for their lifestyle!
The point of this day in the life exercise is to get to know more about your ideal customer. The more you know and love your target market, the easier it will be for you to create and design products they will come to know and love.
Once you start producing and selling your product you may find that your target market has shifted from the original customer you outlined. Or you may find that a secondary market emerges. All of this is totally normal and great news actually! It helps you find and pinpoint your #1 fans, your brand ambassadors or your tribe, and continue to make great products for them!