Do You Know Your Target Market?

Do You Know Your Target Market?

When I mentor new business start-ups, one thing always catches my attention.

Newbies often know their product or service intimately. They usually recognise what they know and don’t know.

What they normally ignore is whom they are selling to. If they do know whom they are selling to, often they’ve done no valid research on what that customer base needs or wants or prefers.

Richard Branson gets the importance of this. He may not know his products or services deeply. He may nit know operationally how they run day-to-day.

What he does though is to talk with end-users, customers, clients, people to LISTEN to what they have to say.

He also knows the numbers.

That’s why he can run disparate mega businesses.

An eye in the numbers and an ear to the ground.

Have you got a clear picture of who buys from you? How do you get feedback on what they have to say?

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