Every single CEO or business owner needs to understand who their company’s target audience is. Determining your target market requires a lot of forethought and extreme consideration. In fact, most business owners fail to take the necessary time out to figure out who their target audience is. As a result, businesses fail every day because business owners lacked the necessary knowledge to determine who the target audience was.
Examine Your Current Customer Base
Ideally, your current business already has some customers. Take a moment to examine the current customer base that is attracted to your company. This will provide tremendous insight into the target demographic that your company will likely want to attract. In fact, examining your current customers for common characteristics and interests is a wonderful way to gather valuable information towards generating a profile for the type of customers you want to attract.
Examine Your Competition
For the most part, business owners are aware of the competitors within their industry. In fact, any good business owner knows the crucial nature of staying up-to-date with their competitors. Examining the types of customers competitors are attracting can be a solid strategy when it comes to determining the demographic your business is looking to attract. Business owners may want to avoid targeting the same customers and instead find another niche that may be more fitting.
Evaluate Your Service or Product
Examining in detail your service or product can be a great way to understand the top features that your service or product provides. In fact, your value proposition help customers want to find out how you differentiate your company. As a result, determining what features of the service or product you provide can allow you to find the target demographic who would be interested in the type of service or product you provide.
Ready for your AHA! Moment? Call Allan Hirsh Advisors today!
At Allan Hirsh Advisors we believe in making a difference in the lives of CEOs and Business owners. We help you discover why you do what you do, understand your personal and professional visions. We ask questions, listen to you, give you feedback so you can make better decisions that align with your why and your visions and hold you accountable for your decisions. All this so you can improve your life and improve the lives of the people around you. If you are interested in taking your business to the next level then contact Allan Hirsh Advisors to learn how we can Create AHA! Moments for you.
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