Defining your demographic is not always as easy as it seems initially. When many business owners I speak with start to try to define their demographic, they typically begin with age ranges, genders, and other broad categories. The problem with this is, some males in their early 20’s may not be right for your product, other males in their early 20’s could benefit immensely from what you sell. While knowing the basics of your audience is a good starting point, your demographics need to have more substance in order to give you the tools necessary to market effectively.
Ready to get started figuring out who you should sell to in order to be successful? Let’s jump in.
First, define who isn’t in your target market. Who do you not want as a client? What type of person makes you cringe at the site of their email landing in your inbox or their name appearing on caller ID? Who would never pay the price you are asking (and know you and your products are worth)? These are the people who your product is not for. Clarifying this is a good way to block out specific demographics of people that you should not waste your time targeting. It is also a good way to get valuable insight into the people you do want to target.
Next, determine what void your product fills. Is the world completely devoid of your product (not likely)? Or are you building something better, faster and stronger than what is currently on the market? Research your competition and find out what it is that they are doing, and where you can differentiate yourself. Search for online reviews or give the competition’s product a go yourself. This will help you find where you fit in to the market you are entering.
Once you know who you don’t want to do business with and what the market looks like, start defining your demographic. Think about the challenges that keep the people in your market that your product is perfect for up at night. What pains them? What causes them to lose sleep? What type of language do those people speak? What do they value in life (family, career, money, you get the idea)? As you create a persona around your audience, you get a deeper understanding for the challenges they face, their pain points, and more importantly, the stuff that resonates.
With a clearly defined, detailed demographic, you can speak to your audience in their voice and use their tipping points to make your offer so enticing they cannot say no. Better yet, you stop wasting valuable time and resources on targeting the people who will have little to no impact on your business.
Now it’s your turn – have you used any unique methods to find your demographic? If so, what worked? And where do you still struggle to know who your most valuable audience is?