Six Ways To Identify And Target The Ideal Audience For Your New Product

The experts at Forbes Business Development Council are no strangers to researching and determining the ideal market for their companies’ offerings. We asked a panel of them to share their strategies for identifying a target demographic and catering to that audience through well-planned marketing and branding efforts. Here’s what they had to say.

Six experts shared their tips for targeting the right audience.All photos courtesy of individual members.

1. Do As Much Pre-Market Research As You Can

Pre-market research is everything. Find what you think is your ideal audience and ask them. (Find them on social media, email lists, community groups, and so on.) Consumers are surprisingly eager to provide feedback on ideas, so ask away. Ask them what they think about your product or service concept. That feedback is crucial prior to going to market. – Case

2. Test And Learn With Google And Facebook Advertising

A quick way to test a new product or service and understand the target market is to devote a small budget to Google Adwords or Facebook. You can survey those who purchase your product or service to understand their profile. With Facebook specifically, you can gain a rich profile of your users and then use that information to target that segment and test different messaging. – Gregory KimSlickdeals

3. Test New Products With Loyal Customers First

We have a very loyal base of customers. We listen to their suggestions for our existing products and also to drive innovation. We introduce our new products to our current users first through our website. After we find success through our D2C model, we expand to retail. – Melody ConnerSoylent

4. Pay Attention To SEO And Analytics

The scope of research that can be done through some of these SEO and analytics tools is truly impressive and heavily underutilized. Learning and implementing the proper tools can help you discover competitor insights, market trends, client information and optimal marketing audiences. The ability to have unparalleled industry insight is only an enterprise software license away. – Scott Douglas ClaryBedrock Affect

5. Create A Customer Avatar

When you’re selling a new product or service, you need to create a customer avatar, which is the ideal person who would buy what you are selling. This avatar will help with everything else involved. If you don’t know who your customer is, how much they make, their age, and so on, then you’re probably going to be spreading your product too far to start out. – Clinton SenkowInfluencive

6. Look For Trends In Client Requests

“Build it and they will come” rarely works. If you’re tuned in, the market will tell you what to sell it. If a client makes a request, it’s just that  a request. If it’s three or more, its something to pay attention to. If it’s ten-plus, it’s a thing. Work with those close clients to create the solution with a mind toward those clients and prospects who are just like them. Right-click, copy and paste. – Joe HipskyiraLogix

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