Tips for Figuring Out Your Target Market

Posted by admin | December 6th 2016

A well-defined target market is probably one the most important factors in ensuring your app will be successful. Targeting a specific market lets you make smarter decisions when it comes to spending money for advertising. Your message can reach the right people who will actually be interested in what your app offers and pay for it. To identify your target market, you can follow these tips:

Look at your business plan

How does your target market fit into your business plan? If you’re a big business, you can probably afford to target a more diverse market. Small businesses, on the other hand, should start with a narrowed-down target.

Understand what your app provides and who will benefit from it

Identify what your app does for people and what makes it unique. Knowing your app from the inside out will help you find out who will use it. For example, if your app helps people focus on tasks then your possible target market could be college students or young professionals. Who will get the most out of your app? The answer to that question will be your target market.

Create a customer profile

Creating a customer profile helps you visualize your target market better. Chances are, your possible users share similar characteristics. It’s good to create detailed descriptions of them by researching and looking at demographics and psychographics.

Demographics include: age, gender, income, location.

  • Age: Are your users mostly millennials or middle-aged people? Age groups tend to have different reactions to what your app offers or how it’s designed.
  • Gender: Women and men have different needs and spending patterns that could affect your selection for target market.
  • Income: Lower-income users could be looking at apps that are practical or could save them money. Meanwhile, higher-income users might be drawn to apps that emphasizes high-end lifestyle or luxury.

Psychographics include lifestyle, interest and hobbies.

  • Lifestyle: Your users’ lifestyles influence the way they use your app. Your app should fit into your users’ life so as to stay relevant for them.
  • Interest or hobbies: Similar to their lifestyle, your users’ interests or hobbies will dictate how your app will be integrated into their lives. A photography enthusiast, for example, will be inclined to use apps related to cameras or photo enhancements.

Look at your competitors’ target audience.

While it’s important to look at your own target market, it’s also equally important to look at your competitors’ target audience. Who are their current users? If they are overlooking a market, you can use this to your advantage. You can create a whole new niche for your app.

Keep tabs on your target market.

Don’t lose sight of your target market! Track their usage and feedback. Respond to their feedback to implement improvements accordingly.

Have a plan for a growing target market.

As your app grows, so will your market. It’s best to have a plan if your market expands so you can adequately prepare for potential changes in your app.

Properly defining your target market will help you determine what approach works best to market your app. It also helps you understand your users in a deeper level so you can meet their needs and wants.

Let us help you determine your target market! Get in touch with us.

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