Clearly Defining your Target Market is a very important step in any startup’s initial days. Not having a defined target market leads to a loss of money and resources.
There are 3 steps in defining your target market.
Step 1: Start out with identifying the use cases for your startup.
Step 2: Once you have the use cases, define the users who would most likely use the product/service offered. Try to be as detailed as possible in defining users by stating demographics like age, sex, income levels, status etc. , whichever are relevant.
Step 3: Lastly define the location you intend to target in different phases of your growth.
Once you have the target market defined, it becomes easier to come up with a marketing plan which can be focused and targeted so as to get the best return on the marketing spend.
