When you start a business is essential to learn who your target market is. Not only to know if there is a market for your product, but you also need to understand how to sell it.
What information do you need?
Motivation, Psychographic, Behavioural and Demographics.
Let’s start with “the motivation”. We will understand why they do what they do, why they want what they want.
When you know “the why”, you can then you can answer their question. I like Simmon Sinnek’s example of Apples first iPod advert.
Instead of saying Say Hello to iPod with 5Gb storage. The customer motivation to buy such a product was to have as much music as possible in their pocket.
When you can answer in their own word you are one step ahead of your competition and on the right path for success.
This section is also interesting. Gives us a lot of information on where and how we can reach them. If we know their lifestyle, interests, personality, opinions and attitudes, we’ll know where to find them and how to speak to them. Want to play?
Behaviour is essential to know what is this segment doing, are they loyal to brands? How often would they use your service? By knowing this, you can then plan how much effort it will take to acquire and retain customers.
Note that I left demographics to the end. It is good to know things like Age group, gender, location, marital status, studies, occupation and annual income, but might not bring valuable information. The reason I left it last is that if you start with demographics, you run into the possibility to fill out the gaps with assumptions or prejudices.
Another game? Look at the description below:
- Female 60 to 65 year old
- Divorced with six children
- Dropped out of college
White down the following: Where do you think this person lives (In a city, suburb // In a flat or house? Where does she shop? What mobile phone does he have?
Now see who that person is. Any of the answers above have changed? Please comment section below!