Understanding your customer is the key to growing your business.
Easier said than done? Maybe, maybe not.
First, understand the problem that your product will solve. Now, who will buy it from you? Where will they look for a solution? A good way to determine buyers’ behavior is using Google Analytics – specifically Google’s keyword tool. See what people are searching for and determine if your product can meet those needs.
Next, check out the competition. Who are they selling to? How are they doing it? What are they offering that you aren’t? For example, are their prices lower? Or are their products of higher quality? Check out what they are doing on social media – what is drawing the attention of viewers? Examples may include a wide variety in posts, a strong community aspect, a friendlier tone, or even deals and specials. With all this information, you can make helpful changes to your sites to increase traffic.
Lastly, perform a SWOT analysis on your business. A SWOT Analysis can help you clearly see the changes that you need to make to expand your market. The acronym is as follows:
* Strengths- What is your business doing well? What’s working for drawing in viewers?
* Weaknesses- What isn’t working for your market? What problems do you notice?
* Opportunity- If changes were made, what kind of progress could you achieve? Take advantage of these changes, for they can help you grow more of a following.
* Threats- What’s out there that is threatening the growth of your market? This can range from competitor businesses to weather.
Defining your target market is the difficult part. Once you have that figured out, it is much easier to determine how to reach them.