This post is one in a series designed to help SME businesses benchmark their business and create a best practice business improvement plan across all of their business processes. You can find the links to the full series here.
What is understanding your target market so important for a successful business?
One fundamental problem most businesses have as they try to grow is the inability to really look at what they are doing from an outside perspective. That is the perspective of the consumer. A clear understanding of your Target Market and Buyer Persona will address this.
To get noticed today you need to understand your audience’s top concerns so you can address their problems by building a brand, and then formulating marketing messages, around how you solve their pains, wants and needs.
How does your business measure up?
Here’s a checklist to help you determine how well you understand your target market, ideal clients and buyer persona
- We have a clear understanding of what business conditions or personal circumstances trigger our ideal buyer to look for a product/service like ours.
- We have a clear understanding of what top 3-5 benchmarks our ideal buyer uses to evaluate/compare products/services like ours.
- We have a clear understanding of what results or outcomes (rational or emotional benefits) our ideal buyer expects a product/service like ours.
- We have a clear understanding of what attitudes or concerns prevents our ideal buyer from investing in a product/service like ours.
- We have a clear understanding of what process they follow and resources they use to explore and select a product/service like ours.
- We use our understanding of our ideal clients to inform new product and service innovation, branding development, marketing strategies and tactics, and customer relationship processes.
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