
So you have created a product or service, and want to make a business out of it. You show it to your friends and family, and they think it’s cool. Now you’re thinking “Yes! I can make this work! I just need to promote it right and I shall become rich and famous!
You then spend a bunch of money on promotional material for your “business”, and buy prime time spots on local TV and radio. You also have a cool website made, which you filled up with content. And then, you just sit back and wait.
One month goes by… nothing happens.
Six months go by… nothing happens.
A year goes by… and nothing has happened.
Now, as you’ve watched all of your money go up in smoke, you start wondering “what did I do wrong?”
What You Did Wrong
It’s very simple: you can’t just bum-rush your business concept into the open world thinking that everyone will buy based on the people around you liking it. It’s just not the way it goes.
Yet, even though it’s very hard to believe, there’s entrepreneurs who still launch products and services simply because their buddies think it’s awesome. If you watch Shark Tank on ABC, you may have seen a couple of these individuals come by.
You’ve Got to Know Your True Target Market
The success of every business depends on the ability of those running it to meet the needs and wants of their customers. To do so, you first need to identify the types of customers you’ll be selling to. They’re also known in the sales and marketing worlds as prospects or target markets / audience.
Before start creating websites and launching special offers on TV, you need to make sure who your target is. You have to know:
- if an audience for your business does exist;
- exactly who they are;
- what do they want form you;
- if there’s enough people out there to support your business;
- if they’re ready to understand what you have to offer;
- and if they’re ready to invest in you.
Once you have all of this knowledge at your disposal, you can move on to starting the development of your digital media kingdom.
“But… how can you gather all of that information?” – You may ask. Well, stay tuned because there’s more information on target audiences coming your way. You’ll have the tools you need to your customer better than they know themselves. And that is the ultimate edge in the battle for business supremacy.
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