Identifying Potential Customers For Your Tech Startup
How well can you identify your target customers? The answer to this question depends on how well you can define the lines between your target customers and the rest of the market. What would make things easier is if you know where to catch them using the right strategies. In the end, this translates to knowing the market segment that your product or service resonates with and also knowing what the spending habits of these groups are.
Almost any services can be reached online these days, but we will not spend time emphasizing the importance of an online presence (as we’re sure you already know that)! Instead, we will help you to reach the right crowd when you are online. When it comes to marketing, SEO and website optimization, identifying your target market can be considered the first step. This is an important aspect as it will directly affect the content shared itself, in addition to the way it is represented, the functions that are displayed and the text that goes with it. So here are the right questions and answers to help you identify your target customers.
1. Whose lives are you making easier with your solution?
Each product/service needs to have a function that enables a group of people for certain tasks. Answering this question will lead you directly to your correct customer base. If you know which problems you are solving, you can address circles that suffer from such problems and reach potential customers instead of trying hard to get their attention.
2. Did you do the correct research and analysis?
Most of the firms that are out there keep their customer information hidden like a treasure. That’s because it really is a treasure! The details of the target customers give away their psychographic segmentation and reveal why they buy the things they do. So, dig in to the sales data you obtained from your customers or research, analyze reports and make educated assumptions that can relate to optimizing your strategy. Let’s say you are selling travel services; if your sales are spiking for domestic flights then you know you can reach your customers through local websites and ads easier or which special offers to use to touch their souls.
It is even possible to do a rival analysis from the comments their online visitors leave and see why they use that website instead of yours. This might help you discover an aspect of the business that you had neglected and not noticed until now! Afterall:
Research is to see what everybody else has seen, and to think what nobody else has thought. – Albert Szent-Gyorgyi
3. Have you segmented your target customer base?
Unless you are offering a very specific service for a specific group, you will want to be able to address a wide base and attract as many customers as possible. Being able to address different target groups and pleasing everyone simultaneously is your key to expanding. Are my customers mostly men/women? Middle aged or young? What occupations are they from, which hobbies do they have? Which language do they speak and how do they communicate? The answers will help you create segments which you can address independently. With this information, you can create content that is dedicated and attractive to them. Remember that addressing a wide base doesn’t necessarily have to be through same promotional material; like we said, communicate the same message in ways that each group resonates the best with.
4. What are the online habits of your customer base?
Knowing the online habits of your customers helps you to prepare tailored strategies that reach the right people through the right channels. The more you know about how often and what time your potential customers check their emails, what kind of sites they visit and what kind of interest they have, the better it is for your analysis.
5. How much are your target customers earning on average?
Knowing the average income of your target market will help you in adjusting your pricing policies to fit their needs. Remember that even if you hit the target market right on the bulls-eye; if your pricing is too high for this market, your potential customers will just admire and gasp at your product. In the age of high-tech, we know some products cost more by nature. But, still, you can try and compensate for this disadvantage by emphasizing the functions that increase the price. Finally, customers are more likely to respond to your product if you can offer them some ‘package deals’ as a sweetener.
It goes without saying that like in any well-functioning human interaction, your online customers and community are also looking for conversations that are interesting to them. Simply, they want you to take their preferences , capabilities and passions into consideration. Show them that it matters to you to offer them the correct incentives. Answer their questions before they ask them.