Successful marketing is influenced by the promotional content used. The more it fits the target market, the more it will attract attention. Thus, the potential for product sales can be maximized. Your target market will determine whether the promotion will be carried out through print media such as newspapers or magazines? Or just social media marketing? This requires a data-driven consideration, i.e. your target audience. One example of data-driven marketing can be seen by people who hire ott advertising companies. Their ads can be shown to users who use streaming services by utilizing their data.
By knowing your target market, it will be easier for you to communicate with your customers. The goal is to understand customer needs. The communication you do can be using a survey or other methods. Because you already know your target market, you know who you deserve to be involved in these activities. The information obtained will be very precise. This is important to determine the new product that you will create. Of course, the product that the user needs will be easier to sell, right?
On the other hand, investment is one of the most effective ways to develop a business, especially for small and medium businesses. If you want someone else to invest in your business, show that the business is well planned. One way, shows a clear vision and mission, including understanding the target market you want to reach. Thus, investors will be more confident to work together to develop your business.
If you already have a product that is being marketed, you can see your current customers, then create a potential target market for your product.
For example, your product is a youth fashion product that has an attractive design and is priced at an affordable price. These products are easily purchased through various marketplaces, apart from your online store.
So, your target market is young people who tend to want to be different with unique designs. They are active smartphone users and love to shop online. Also, your target market is those who buy a product by considering the price factor.
On the other hand, if you are just about to create a product, you can try to make assumptions about your product and who is the target market.