Any business that wants to be successful needs to clearly understand who its ideal customer is. This is because, without this knowledge, it can be challenging to assess what marketing strategies will most effectively reach this target audience.
Additionally, a company that does not know its ideal customer will likely have difficulty creating a product or service that meets its needs. Luckily, there are a few tips you can follow to help you find your perfect customer base.
Tip 1: Define your ideal customer
Before you can start finding your ideal customers, you need to have a clear idea of who they are.
This was elaborated by Brian Tracy, Chairman and CEO of Brian Tracy International, in an article. Tracy says the ability to clearly define and determine the very best customer for your product or service determines your business success. How do you find more perfect customers for your product? How do you create new customers for your product? You need to define your unique value proposition and communicate this key benefit with every customer.
Businesses that cannot clearly define their target market are often the ones that struggle the most. “For this reason, they waste a lot of time and money trying to sell their product to people who aren’t good potential customers,” Tracy said.
Tip 2: Start with market research
One of the best ways to find out who your ideal customers are is to conduct market research. In this process, you will likely discover a lot of important information about your target market, including their needs, wants, desires, and how they make purchasing decisions. Additionally, market research can also help you to identify any potential gaps in the market that your business could fill.
There are a number of different ways to conduct market research:
Secondary research: This type of research uses data that already exists. It’s a great place to start because it can give you an overview of your industry, market trends, and demographics. You can find secondary research online, in libraries, and from government sources. The U.S. Census Bureau is an excellent source of demographic information.
Primary research: This type of research involves collecting data yourself through surveys, interviews, and focus groups. Primary research can be more expensive and time-consuming than secondary research, but it’s often worth it because you’ll get detailed information about your specific target market.
Tip 3: Use social media
One-third of customers use social media to learn about or find new products, services, or brands, while one in four individuals also make purchases using social media, according to research conducted by The Harris Poll on behalf of Sprout Social.
This means that as consumers increasingly turn to social media for their needs, businesses need to make sure they’re using these platforms to reach their target audiences.
Social media is a great way to reach out to potential customers and learn more about them. For example, look at who is following your competitors, and see if you can target those same people. Also, use social media to create valuable content that will attract your ideal customers to your brand.
Tip 4: Market segmentation
Consider using market segmentation to further target your ideal customer base. This is a perfect way to break down a large target market into smaller, more manageable groups. By segmenting your market, you can create targeted marketing campaigns that are more likely to resonate with each individual group.
When segmenting your market, there are a few different criteria you can use.
Demographic factors like age, gender, location, and income level can be helpful in determining which segments to target. Demographic segmentation, for instance, a Medicare insurance agency, might target individuals over the age of 65 who live in the United States.
Psychographic factors like lifestyle, interests, and values can also be helpful. According to Cory Greenhough, Managing Director of Fridge Freezer Direct U.K., “One tip for finding your ideal customer is to look at what they’re doing. If you know what kind of things they’re interested in, you can target your marketing more effectively.”
“For example, if you’re selling a new type of exercise equipment, you might want to target people who are already interested in health and fitness. Another way to find your ideal customer is to look at their values. What kinds of things are important to them? If you can tap into that, you’re more likely to make a sale,” Greenhough also cited.
Once you have identified your target segments, you can start to craft marketing messages that will appeal to them. You can also use this information to develop targeted advertising campaigns and find the proper channels for reaching your ideal customers.
Tip 5: Develop a customer persona
Creating a customer persona can be extremely helpful when trying to identify and target your ideal customers. A customer persona is a semi-fictional representation of your ideal customer based on accurate data and market research. Once you have developed your persona, you will have a much better understanding of who your ideal customers are and how to reach them.
For example, let’s say you’re a women’s clothing store. Your customer persona might be something like this:
- Name: Sarah
- Age: 25-34
- Location: Los Angeles, CA
- Income: $50,000-$75,000
- Occupation: Public Relations professional
- Interests: Fashion, beauty, travel
- Values: Style, quality, self-expression
By creating a customer persona, you can start to develop targeted marketing messages and advertising campaigns that will speak directly to your ideal customers. You can also use this information to find the proper channels for reaching your target audience.
A famous brand that has done this well is Glossier. Founder Emily Weiss created a customer persona for her target market, which she calls the “Glossier Girl.” The Glossier Girl is someone who is confident, stylish, and always on the go. By speaking directly to her target market, Emily has built a brand that resonates with millions of women around the world.
Another example is Everlane, which has built its brand around the idea of “Radical Transparency.” This customer persona is based on the values of quality, transparency, and sustainability. Everlane uses this persona to create targeted content and advertising that speaks to their ideal customers.
There are a number of different ways to find your ideal customers. By using market research, segmentation, and customer persona development, you can start to craft targeted marketing messages that will reach your target audience. You can also use this information to develop targeted advertising campaigns and find the proper channels for reaching your ideal customers.