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.
