How to Find a Target Market for Your Online Business

Mar 14, 2019 | Start an Online Business | 0 comments

So, you’ve come up with the perfect business idea that’s niched down and something you know you’ll enjoy doing.

You’re ready to take that next step to grow your business, but before you do that, your next task should be determining your target marketing.

For any business, the foundation of success is knowing your customer inside and out so you know that your product is the perfect match.

Read through this Target Market for your Online Biz Guide to get a better idea of who your ideal customer is, how you can identify them, and what you need to do to better serve them!

How to Identify Your Target Market for Your Online Business

To identify your target market, you’ll have to set something called a “buyer persona” up, which is like a snapshot of someone’s identity, their demographics, goals, values, and problems.

When you create a buyer persona for your online business, you’re going to be building your specific ideal customer from the ground up – you’re going to get down to the specifics like their name, age, and activities.

While creating this “imaginary” person may feel silly at first, it’s really going to help you understand who your customers are and how your products are going to help them solve whatever problem they have.

Whatever you sell or teach to your audience, you must figure out the core beliefs of your customers. You must understand how they think, what they care about, and what they are looking to solve through ordering your products & services, or reading your blog posts.

Once you can fully understand who your core customers are, you can tap into those emotions and beliefs by enhancing your branding in a way that quickly speaks to your customers.

They will easily buy into your philosophy, and become a devoted follower of your brand simply because you have a similar belief system and connection with your audience.

From there, you can continue to develop more ways to connect with these customers and keep them devoted to your brand as well as attract even more people to your online business who think in a similar way as your current customers do!

By understanding your customer, you’ll be able to:

  • Write specifically to them (while even using their own language)
  • List the best prices for your products
  • Market through the right channels
  • Create the right products
  • Design your social media platforms to inspire and inform your audience
  • Informing your audience with great ideas, inspirational tips and insights

When you create a buyer persona of an “imaginary” person, you’re giving yourself a “real” person to market and sell to.

Every business has different customers that think and feel in completely different ways. Once you figure out who they are, what they’re interested in buying, and how they think, you can use that to your advantage and develop you business in a direction that will be even more successful and sustainable in the long run!

Find Out Where Your Target Market Is

To create your buyer persona, you’ll have to answer a set of very specific questions about your customers.

Before you grab and pen and paper and go to town, you should not be answering these questions off the top of your head.

These responses should be calculated and accurate, meaning you’re going to have to do a little research beforehand to get it right.

Of course, you should already have a decent general understanding of who your customer is – stay at home moms, teenage girls, college students, etc.

Start from here and dig a little deeper. Find out where this general audience hangs out and observe them.

Note any similarities, common abbreviations, general characteristics, and use that information to complete the questions.

Great places to look for your ideal customers are:

  • Forums and groups related to your online business
  • Social media channels
  • Quora
  • Friends and Family
  • Send out surveys or questionnaires (to existing customers)

Who Are They?

Now that you’ve observed your audience, you’ll be better equipped to build your “imaginary” person for your buyer persona.

Keep in mind that this exercise is to get you to start speaking to only one person whenever you design a product, write a description, sell a pitch, or interact with your audience.

Going too broad with your target market is going to end up hurting you in the long run!

Plus, it’s a great way to ensure that you’re humanizing your brand.

Fill in the following information using your research.

Once it’s complete, you’ll have an example of a specific customer you’ll be trying to reach.

Have fun with it, but make sure every answer is based on real insight.

1. Personal

Name:
Age:
Job title:
Family status:
Favorite quote:

2. Goals

What are their goals?
What stands in their way?
What steps do they have to take to achieve their goals?

3. Struggles

What are their main frustrations?
What setbacks have they already faced?
Why haven’t they been able to achieve their goals yet?
What would help them?

4. Activity

What are their favorite websites?
What blogs or email lists do they subscribe to?
How do they get most of their information?
What social media platforms do they use the most?

5. Bio

What’s a 3-5 sentence bio that describes your ideal customer?

Want to go into even more details?

Download this in-depth Target Customer Worksheet, which asks even deeper and personal questions to ensure you’re finding the perfect customer to sell to.

Start With Your Customers In Mind

The goal of this exercise at the end of the day is simple:

Learn how you can best help your customers.

Knowing exactly who your customers are is the best way to achieve that goal.

Once you can pinpoint the specific person you’re trying to help, growing your business will become a lot easier.

You’ll know:

  • What products they want (or need)
  • How they think
  • How they talk
  • Daily pain points and aggravations
  • How much they’re willing to invest
  • Goals and values
  • Objections

Just remember, go through this with the purpose of learning how to solve a problem for your market.

Because the most successful businesses are the ones that truly help people.

Lastly, don’t get too hesitant about making it a specific group of people. Remember that it’s just a guide. However, if you have a spectacular product or service, there will be plenty outside your target market who will buy from you.

I hope that you found this guide helpful and that you’re on your way to creating a buyer persona to niche down who you’re selling to! Let me know your thoughts and comments below:

  • What does your buyer persona look like?
  • Did you enjoy this exercise or did you find it difficult to come up with characteristics?
  • Have you created a buyer persona before? If so, how did it help you in the long run?

Hey babe! If you’re ready to create the online biz you’ve always dreamed of and complete it all in a way that you actually have time to manage, then you are in the right spot!

Welcome to the blog! It’s where I share my best tips & tricks for growing an online business fluff-free.

P.S. You can download each blog post too! Click a post, and you’ll find how to download a printer friendly version near the top.

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