Last updated on January 13th, 2021. Posted in Find Your Business Niche.
One of the most important decisions early on in getting your online business started is selecting exactly which audience you'll serve. So, a big question is, who is it that you want to work with? What kinds of people do you want to help, day in and day out? Here are three guidelines to help you select the perfect audience.
Here are links and resources mentioned in today's video. Enjoy!
First, your audience must reside online...after all, it's an online business we're building here, right? So what this means is, your audience or the market you want to target has to congregate online...
In other words, there has to be forums, sub-reddits, websites, user groups, and other online places where your audience hangs out. And you could say that your audience really is a special interest group.
So, is your target audience skinny-fat college juniors who want to build muscle fast? Is it health-conscious dog owners who want the best for their pets? Or is it busy moms who homeschool their kids who want the best at-home learning materials?
And if your audience or your market resides online, then this makes it super-easy to conduct market research...and you can also totally focus your marketing efforts.
Here's the next guideline for determining your target audience: And this one's a big clue that's right under your nose: Very, very likely...like, there's a 98% chance...that you already belong to this audience.
In other words, you already share in the same special interest. And if you're already a part of your audience, then you already know a lot about them...what frustrates them, what problems and challenges they face, where they hang out online, and more.
So, if you're struggling to determine a target audience to serve, look to your own interests. What do you spend your downtime on? Where do you find yourself on Saturday mornings, Sunday afternoons, or during a weekday evening after a long day of work?
What do you spend money on? What are your hobbies and interests? If you won a contest where you could pick any non-fiction book on Amazon that you'd like, what topic would the book be on?
Finally, the third guideline for selecting your audience -- and this is an important one -- is that your audience must be willing to spend money to solve their biggest problems, pains, and challenges. Starving artists and broke musicians are very often a no-go.
Instead, your audience has to be a group of people who see and understand value...that a product or service that promises to solve big, painful problems for them is a no-brainer for them to purchase.
Now it's important to note that these three guidelines are just that -- guidelines. Further research into your potential market will reveal if this audience is viable and worth pursuing.
So, before you create a product, come up with a "magical big idea," etc., you'll research your potential audience to determine if the audience you have in mind is worth targeting in the first place.
Hope you enjoyed. See ya next time!