Know your market- Your friends and family are not your target audience

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A lot of you are about to take offence to this one;

Your friends and family are not your target audience; they do not owe you the loyalty of always purchasing from you–the most they can do for you is to publicize your brand to their network of contacts in hopes that your go-to prospective customer is in the pile. That is how family and friends are supposed to support you.

Many people fight with their close friends and family because they expect them to patronize them first, but they owe you nothing unless what you sell is something they need. They don't have to spend their money buying products they don't need; everyone would be broke by now if they did that.

To help you, let's break down who your target audience is?

Your target audience or market are the specific groups of people you have decided to target with your products or services. Don't say your product is for everybody; you can't offer a single type of product for everyone.

Understanding that human beings have different personalities and interests makes it easier to differentiate who you want to sell to.

Identifying your target market–Who is your target market gangan.

Take a hard look at your product and competition to determine whose attention you want to your products or services–This is how you start to build a customer base for yourself.

How to identify your target customer?

  • Start by understanding your product and who you want to sell your product to
  • Then look for places where you can find these people you want to sell to, online (Instagram, Twitter, etc) and offline (your church, school, etc)
  • Identify what other businesses are selling something similar to these people already and how they do it - this will help you understand what your potential customers like
  • Then proceed to reach out to these potential customers by signing up on channels they are on, talking to them offline and implementing some strategies you've learnt from your competitors to attract these people to you. (It's even better to do something interesting that differentiates you from your competitors)

How to build a customer base (These are those customers who need what you sell)

  • Start by identifying what your ideal customers look like
  • Then determine what those kinds of customers have in common with one another
  • Then proceed to research who fits into which boxes and whatnot.

For example, your potential customers would be divided based on the following blocks if your business sells sportswear.

  • Active people who work out often
  • People embarking on a weight loss program
  • People who are sportsmen or women
  • Resellers, You get the idea, right?

This level of simplicity makes it easier to tailor your messaging to appeal to these individuals, even if your customer base is much broader.

Why Is Defining Target Customers Important?

Having a customer base to tailor your marketing efforts is the secret to your business's success. These are some other important reasons to define your target audience.

  • This helps you determine if your potential audience is enough for your business. (These means are there enough demand for what you sell)
  • This makes it easy to figure out how to gather a customer base interested in your product or service, thereby increasing your chances of success.
  • Defining a target market will not limit your business, you can still sell to whoever is out of your list of the potential audiences.

Finally,

In order for your business to succeed, understanding the prospects of defining your target customers and learning about your market is important.

Typically, your target market or prospects are based on proper research, observation, and intuition about the market. This also includes what your competition is doing and your industry as a whole. Next, you do research to learn more about your market, you need to ask questions like;

  • what are your target customers' buying habits?
  • what your competition is doing? etc

Run your business with Ease,

A crucial part of what the Kippa app does for your business is analyzing financial reports to help you make better business decisions; help you understand cash flow. And overall, it gives you insights that reveal the bigger picture of how your business progresses.

All the tools you need to start/run/ grow your business, your go-to bookkeeping, accounting and business bank app; Kippa gives your business a way to measure your overall performance. It also provides information to make decisions related to your business, and it helps you ascertain your revenue and income.

Hafeedoh Balogun

Hafeedoh Balogun