Starting a business is like jumping into a deep blue ocean. Before you jump into any business, make sure you’ve thought about what you want to sell. You should have a clear vision of your business. Why clarity matter? Many successful companies started in the clarified market. Having clarity vision of your business can help you reduce the amount of money you spent on marketing, find the right networking, and help you reach the right consumer. If you already have a specified market, it is easier for you to gain feedback from your customers to provide and upgrade better products in the future.
A clarified business will be a needle that leads you to stitched your business up.
The road to product/market fit is clarified; get clear on:
- What you’re making
You need to set your product correctly before you sell it. Figure out your product strengths and weaknesses. By knowing your work, it can ease you to educate your consumers or clients. Here is the key to finding out what kind of product that will be suitable for you to sell:
- What type of product or service that needed around you.
- Know the opportunities, is it profitable?
- What kind of specialty you already have.
- How many funds do you capable - Who you’re making it for
A 50-year-old dad wouldn't interested to buy your gaming headphones. Instead, he would buy your big garden knife. A single marketing strategy can’t be applied to every product. Every product has a different market. To reach this clarified market, you need to know your product segmentation. These points of customers demographic will define the segmentation:
1. Age
2. Gender
3. Income
4. Ethnicity/religion
5. Marital status - Why you’re making it for them
Keep making better products to gain customer’s satisfaction. They would repurchase your products if it pleased their expectation. After all, It will bring you a long-lasting customer relationship. Loyal customers might be an asset to your marketing strategy. They might voluntarily spread the awareness of your products from mouth to mouth. - How you can efficiently reach them
By looking at market segmentation, you can easily choose the right campaign strategy to sell your products. It will cost you less on the marketing campaigns, no need to spent over an excessive amount of money to advertise your product. The message you deliver on your marketing campaign also could easily be digested by your right customer. Using the latest technology on data analytics can also increase the number of customers interested in buying your products. For example, the Instagram algorithm and analytics will bring you potential customers with the same interest, hobbies, and many other demographic factors as you have segmented before.
These are some points and steps to get your product/market clarified. I hope that providing this article can help you find the right market and grow your business better.
Contributor : Abdul Hamid
