Customer identification is crucial to the success of your business. If you do this right, it will be easier to determine the strategies that should be executed to make them choose your company over your competitors. If you want an easier way to identify who to target, companies like Vivaldi Group can provide the services that you need. Whichever option you choose, you need to identify your target market.
In this article, we will discuss some of the best ways by which it will be possible to identify your potential customers.
Use their Demographics
Age, gender, economic status, and marital status are some of the common factors that are used in customer segmentation. By being able to segment your customers in these variables, it will be easier to determine which portion of the market is best to target based on the products and services that you are offering.
What is it that you are offering? This should be the first question, and from here, you can easily identify potential customers. For instance, if you are in the real estate business, your potential customers would be people with disposable income for a new house, preferably newly-married or long-term couples who are already contemplating of building a life together.
Evaluate their Psychographics
In a nutshell, psychographics deal with why your customers will buy your products. For instance, psychographic information can reveal that your customers are health-conscious, they emphasize quality over price, they enjoy being online, and they are concerned about their physical looks. It’s all about their interests, values, and personalities.
If you are selling mocha-flavored biscuits, psychographic information would reveal that you should target those who love coffee. On the other hand, if you are offering expensive gourmet diet food, you should target people who are health-conscious, but do not care about how much they pay.
Research about your Competitors
One of the easiest ways to identify potential customers is to have an evaluation of what the other players are doing. In your competitive research, you will identify the target market of your competitors. This can provide you with an idea of who should be your target as well. You might want to tweak product a bit so that you can capitalize on a niche market.
Know Your Product
In some cases, you do not have to look far to know who you should target. Evaluate the product that you are offering. What are the benefits that it can offer? What does it promise to do? How do you expect to have it priced? Once you have the answers to these questions, you will be able to tell who it’s for, and hence, who you need to target.
The task of identifying potential customers is never an easy feat. There is no exact science behind it. As shown in the discussions above, there are different methods by which this can be done. Use one of these methods and it will be easier to determine the most profitable segment of the market that you should tap.
