Step two: Conduct market research
Market research is the process of finding information about your target market. By conducting market research, you can find out who to target and what influences people to make purchases. Additionally, you can understand what buyers are looking for and how to address any problems they may have. Doing this research includes looking at industry trends, determining gaps in the market, and evaluating your brand awareness.
Step three: Study your competitors
Your competitors sell products that are similar to yours, which means they’re likely targeting the same audiences. Once you’ve identified who your competitors are, you can use information about them to define your own target audience and find groups that you may be overlooking. Strategies for analyzing competitors include researching their current advertisements, looking at what audiences interact with them on social media, and determining the strengths and weaknesses in their marketing techniques.