Research & Analysis of your target markets will help you identify what set of activities you need to carry out to reach your potential customers based on where they go and how they go about sourcing your products or services.
- Prioritise your markets by who will be the most important customer for your business in the future.
a. Please break out your target customers into groups, grouping customers with something in common and list them in order or priority, the first entry being the most important to your business. It may also be beneficial to break these groups out by individual / persona. If so please use a new row for each group of individuals/personas and then identify the other information requested for each of these more specific groups (e.g. if targeting consumers you may be targeting families. There may be two types of individuals involved in families e.g. the mother and the child in the purchase decision for brand of leisure for example. In the B2B scenario, you may be targeting both the financial controller who signs off on purchases, as well as the technical director for the purchase of a technical product or service.)
b. For each group, identify their motivations, triggers, interests in relation to your products or services. What creates the need for your product in their lives? What information would be relevant to them when they identify the need for your product or service?
c. What issues crop up for them that cause them to need your product or service?
d. Where are they located? Which geographical markets do you wish to target?
e. Please list the top search terms you think your potential customers would use when searching for your products / services in the geographical areas you cover. A keyword analysis tool can be used to give an indication of which key phrases/search words are most relevant for your business in each of the geographical markets you are targeting e.g. those that are most searched for. Please list for each identified group in the table below.