If you have a business, you need a target group. These are the people you want to reach with your product or service. One of the biggest mistakes does not happen while actually defining the target group but prior to it. It’s trying to appeal to everyone. Better imagine it like a game of darts: you have to aim to hit the bull’s eye.
Target group analysis: A Life Model?
Hard to believe but we are already going through the process of finding the right target group at an early age, already. Just think back to your childhood. If you wanted something specific, you knew exactly which parent gives you what you want. The choice of father or mother as the person to turn to was made wisely.
This is an example of the definition of a target group. Companies go through this process day after day to be more successful. It makes no sense to try to please everyone. Invest your time, energy and money in a specific target group.
Define your own target group step by step
Start by figuring out what problem you are having with your product or service. Once you have a clear idea of it, you will identify the buyer personas who have this problem
List all customers who suffer from the problems you have solved. After this you have a clear picture of your customers. Sort your target group according to place of residence, professional groups, gender, hobbies, relationship status and other relevant key data.
Ask yourself who benefits from your offer. For whom are the problems from Step 1 the most serious? Who has the most to lose if he does not address these issues?
Think of niche markets. It is a more effective strategy to be a big fish in a small pond than vice versa. The web is great for delivering personalized products and services and eliminates many of the earlier challenges in sales.
Take your own business under the microscope. Do you have special subjects? Do you have a lot of experience in certain markets? Do you have unique knowledge? All these factors can help you create a particularly attractive offer for your target g
Find out about your competitors. Look at the market and find out how to differentiate yourself from your competitors with your business. Only if you stand out from the others, you can be successful with your offer.
Conclusion - define target group
Defining a target group has to be done before entering the market no matter if creating an app, providing a service or launching a product. It’s the only way how to make your offer able to compete and prevail against the competition. You will see: A target group analysis pays off!