Friday, March 6, 2009

Who is Your Target Market? Tips to Locate Your Perfect Customer

By Alice Seba

If you don't know the type of customer you are selling to with your online business, the chances of success are very slim. How can you sell to someone you don't know or understand?

Unfortunately, that's pretty darned difficult until you have determined who your target market is and what they want and need from you. So, how do you find out what type of person readily buys your products or services? Keep reading for tips to aid in growing your online business by getting to know your target customer.

Communicate With Your Current Clients

As a first step, if you have previous paying customers, find out what it is that makes them tick. Learn exactly what it is that they need from you. Many methods exist to do this. Here's a couple of tried and tested techniques:

Creating surveys and asking for their thoughts and opinions on your product or service after they make a purchase.

Another way is to utilize your mailing list and ask them what they would like to see more of from you in an email.

If you haven't sold any products, and you need to do some more research - how is it done? One good way to find out who your target market is, is to list down every benefit of your product you can think of. Come up with some ideas as to what your product or service does to help people. As an example, a couple of benefits may include losing weight or saving them time. Especially concentrate on benefits that help fix their particular problems. What does your product or service offer that enables your buyers life to become better or easier?

What research process do you use, if you have never sold a product before, and you have no list to speak of? In order to discover who exactly your target clients is, jot down all of your products benefits (not features). Brainstorm a list of things that your service or product does for people. Examples of this would be "makes them more money", "gives them more spent time" etc. etc. Also focus on how your product will fix any problems your client may be facing. What is it that you can do to help your buyer, that would help their lives become easier or higher quality?

When your list is complete, evaluate it. Let's say for instance you sold beauty products that reduced wrinkles and made your customer look younger. Your target market would probably be women in their 40s or older. By listing even more benefits you can go even more specific with your market and really zone in on the perfect customer for your beauty products. You might even realize you can have more than one target market and that's ok, especially since you are doing business online. This makes advertising and creating more than one site for each of your markets easy and inexpensive.

Discovering Information That's Already Out There

Using keyword research is a very effective technique to study your market place. Other methods include looking at material dedicated to your niche, including magazines, discussion groups, social network sites and clubs with common interests. Visit other websites that are at the top of their game, and find out what they are selling the most of. Your competitors can help you too, by showing you their most popular items.

No matter how you come up with your target market, remember to take the time to put yourself in your potential customer's shoes. Whether you're just starting out with a new product or are making changes to your existing service, don't be afraid to talk to people out there to find out just exactly who the target market for your online business really is.

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