Discovering your Target Market

Discovering your target market with W5 Partners   Any business operating today needs to implement a marketing strategy, but you can’t create a strategy if you don’t know who you want to get the message. That’s why it’s vital for every business to establish their target market. It could be a small niche market or a larger market, either way, if you’re serious about growing your business, understanding your target market is also incredibly important. That’s why a more in-depth discovery is needed. Ask the right questions, look at more than just demographics. Look at where your market comes from, what they love, what makes them happy. In other words, define your market on a broad scale, make sure you dig deeper.

The 4 Most Important Questions to Ask

In order to define your target market, there are 4 important questions to ask. These questions will help you establish who your niche is, and assist your marketing team in helping you to make sure that your target market knows your name.
  • Who
Establish who needs your product or service. Look at demographics, family size, gender, age, etc. For example, if you’re selling baby car seats the “who” that needs your product would be woman between 20 and 40, with newborn babies who have cars.
  • Where
Establish where your audience come from. Knowing where they live (geographically) and finding out what’s around them, gives you further insights into the choices your audience make. Knowing the religious and cultural background of your audience is also very insightful.
  • Why
Establish why someone would like or need your product or service. What is it that your consumers think about, care about, enjoy doing? Why do they make the choice to go left instead of right? This is more about the physiological aspect of your audience. Knowing what makes your audience smile can dictate an idea for a great ad campaign.
  • How
Everyone buys a product to fulfil a basic need, but how is that need going to rank in their lives? And how can your product help make their lives easier?

The Difference Between Consumer and Target Market                              

No matter what you sell, you’re target market is never “everyone”. There is a difference between those who consume your product and those who purchase it. Yes, it’s more likely that the two will go hand-in-hand, but not all the time. For example, if your product is milk, barring the lactose intolerant, everyone consumes your product, but you can be guaranteed that 6-year-old boys don’t purchase it. It’s important to understand this and be aware of who your real target market is. You may decide that the best way to market milk is to say that it’s great for 6-year-old’s and their development, but the marketing campaign is going to use that message to target mom’s… not the 6-year-old’s.

Doing Your Research

W5 Partners are experts at assisting with consumer research and are able to help you establish focus groups and guidelines when seeking out your target market. And once you’ve established your market, we’ll build you a marketing plan and brand print to rival your competitors.

By Mzama Xala & Lisa Alton

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