One of the most important steps when planning and developing a relationship or marketing strategy is to identify the target market you want to reach, and subsequently connect with it to create awareness, TOM (top of mind) and TOH ( top of heart). However, this is not a task to be handled lightly, as the end results will depend on how well the process is carried out. So to know how to define your target market, you must follow a process. Here we give you the basic 1,2,3 for success:
Still don’t know how to define your target market? Here’s the key
1. How much do I know about my brand?
To be able to define who to reach or where to establish your market niche, you must know your brand or company inside-out. This does not just mean knowing what it does or what product it offers. It means understanding your mission and vision, as well as your values. This way you can figure out who should be part of your target market and why.
2. Environment analysis
Once you are clear about what your brand or company does and the resources at your disposition, you must focus in depth on the industry in which it operates and the behavior of the market. This is an ideal time to develop an analysis that allows you to understand your competitors, and the strengths and weaknesses that you must address in order to successfully reach your potential customers or users.
3. Strategic planning
At this point you already know what you have and the environment in which you find yourself. Now you should start to establish your goals and identify the resources required to meet them, as well as the tools you can use to achieve your positioning goals.
Among the things to consider when understanding how to define your target market is consumer psychology. What are the users who make up your market niche like (gender, age, geographical location, preferences, etc.). Once this is defined, start assessing how best to connect with them based on their likes, needs and affinities.
If you follow these three steps conscientiously, you will be on the right path to answering the question that brought us here: ‘how to define your target market?’ If at this point you still have doubts and believe that you may need the helping hand of an expert, here at Sherlock Communications we will be more than happy to help you construct the necessary landscape to connect with your audience easily and successfully.
