How to define your target market
A common reason fashion start-ups fail is because they haven’t taken the time to get to really know their customers.⠀
How much do they spend on clothing? Where do they hang out? What’s their social calendar like? Who are their friends? You need to know to ensure you match your product with the right people.⠀
In order to market your products or service effectively, it is imperative that you tailor your marketing and sales efforts specifically to your target market and here four steps that’ll help you define it.⠀
1. Identify why a customer would want to make a purchase⠀
The first step is understanding what your products/services have to offer to a group of people. By knowing what your product/service has to offer and what will make customers buy, you can begin to identify common characteristics of your potential market.⠀
2.Identify your current customers & segment them⠀
If you’re not sure who buys your product or service, consider asking your team for this information. It is also necessary to segment your types of customers. For example, you may categorize customers based on location, budget, or needs.⠀
3. Identify your competition⠀
It’s likely you know who your obvious competitors are however a quick search on google and social media can reveal upstart competition you may not have been aware of.⠀
This is an easy way to develop an idea of who your competition is and fast.
4.Identify what customers stand to gain from choosing you (instead of a competitor)⠀
What features do you offer that no one else does? Is there something you can do better than anyone else?
By the time you’ve identified all these points, you’ll have a better understanding and be able to define your target market.⠀
Whatever you do, don’t try to sell to every section of the population. Hone in on who’s going to enjoy your designs and be able to easily incorporate them into their wardrobe.