Defining Your Ideal Target Audience
Before you can create a great solution for your customers, you need to know who your market are. Defining your ideal target audience then, is critical to business growth.
Many business owners who are looking to grow their business focus on improving a product or service, with little consideration to who their ideal target audience is. The reality is, that if you’re trying to attract more customers, it makes a whole lot of sense to know who your target market are (or better yet, should be) and then start tailoring your solutions to meet their needs.
Three good reasons to define your ideal target audience
Ideal customers buy without discounts.
Ideal customers come back. Over and over again.
Ideal customers bring more ideal customers.
All three of these reasons drive the growth of your business.
Not sure who your ideal target audience are?
Start here.
If you are trying to identify a market to target, we recommend starting by looking at your best customers. First, what defines them as being the best, then, work out what these ideal customers have in common.
The 80/20 rule can be a useful starting point when looking at who your best customers are. We recommend looking at the following areas of your business:
Income: the 20% who provide the most income for your business
Profit: the 20% who are the most profitable for your business (this can often look the same as the Income list but often it will highlight some anomalies)
Referrals: the 20% who refer the most other customers to your business.
Issues / Complaints: the 20% who cause you the most problems.
Most enjoyable customers: the 20% who you enjoy working with the most.
We can help your business grow.
If you’d like help with defining your ideal target audience, or need to narrow down from a number of current target markets, we can help. Click the button below to arrange a free, no obligation chat.