Become a Conduit to your
Entrepreneurial Can-Do-It

August 11th, 2020

Made your dream product from scratch and want to introduce it to the world at large? Well, this can be quite tricky if you don’t have a plan in mind on how to zero in upon your target audience!



be-a-leader-not-the-boss

Just the knowledge of the identity of your target audience and when do you need to put forward your product before them will lead to advanced and better marketing strategies rather than wasting thousands of dollars to cater to everyone.

However, it is not easy to identify a market for your invention in one day. It might take weeks, months, or even years to perfect and polish. Don’t get scared; the below tips will help you on your journey.

Step 1: Know the Problem You Solve



The secret to knowing your target audience is to identify how your product can help individuals to eliminate a certain issue from their life. Ask yourself, “does this make their lives easier?” If the answer is a big, firm yes to this question, then you have a product that can actually cause ripples!

After you are done identifying the problems that your product can solve, start drawing up a list of people who might face such problems on a day-to-day basis. Voila! You have a rudimentary list of your target demographic!

Step 2: Build A Customer Profile



Identifying the typical end-users of your product will help you to build customer-focused campaigns and engage the right kind of audience. Build a customer persona by trying to list out their interests, job roles, geographical locations, gender, socioeconomic status, aspirations, political leanings, and more. This data will be instrumental when designing packaging, setting a price tag, thinking store locations, and creating marketing messages.

Step 3: Study The Competition



Learn from the existing competition’s mistakes and keep a watchful eye on what they are working on. Read about their initiatives, their market positioning, and pricing, conduct customer surveys to know their experiences with your competitor’s products and study their social media profiles and bad product reviews so that you are well-equipped to provide your customers with a better alternative.

Step 4: Identify The Type Of Market



Who will be the potential buyers of the product? Individuals and households, companies and organizations, or wholesalers? It is important to take into account whether your product is for personal use, will be a part of another product, or is meant for use in a factory’s daily operations. This strategy will stop you from promoting your products to faceless crowds and help you to segment your target market properly.

Step 5: Why Should Customers Buy From You?



Are you the fastest, the cheapest, the most accessible, or the best in class in your product category? These are tags that will grab the average customer’s attention and give them a reason to choose your product instead of a competitor’s. Such added benefits will separate you from the sea of products in the market and help you carve a niche for yourself!

But of course, simply using these words won’t work. You will have to walk the extra mile to convince them that you are actually what you say you are!

Meanwhile, don’t forget to chat with your mentors, colleagues, and people whom you trust as you identify your target audience. They might have valuable insights that might just help you to tap into potential markets which you would have never thought about!

Build a strong strategy & a winning plan to boost your career, entrepreneurship & product invention efforts.

Connect with the Best Selling Business Author of Amazon: Dennis G. Shaver over a Complementary Strategy Call.