Building a brand is a thrill, honestly (we wouldn’t be a brand design agency if it wasn’t ????????), but it’s important to have a solid understanding of your target market before diving in head first. Market research is the key to unlocking the full potential of your brand and setting it apart from the competition.
So here’s some market research tips that’ll give you focus and make your brand slap.
Define Your Target Market
The first step is the same in business as it is in finding your future husband on tinder. Identify your perfect match. Who is your ideal customer? What are their needs, interests, and demographics? Get specific. The more specific you are the easier it will be to tailor your messaging to appeal to them.
Now’s the time to get your hands dirty — get out and about and gather info about your target market. While you can get some general broad stats from websites and other online sources, the best info comes straight from the source — your target audience. Conduct interviews and make polls. Really get to know people that reflect your ideal client, you’d be surprised what you find out.
Is the grass really greener on the other side? Take a peek. Have a look at your competition, really focusing on their strengths, weaknesses and what makes them unique. Delve their strategies, target market and pricing to give you inspiration for how you can make your business thrive (and crush the competition xoxo).
Keep an Eye on Trends
Lastly, STAY CURRENT. If you’re not moving forward, you’re moving backward. Staying up-to-date with shifts in the industry and consumer behaviour gives you a real competitive edge. Just make sure you stay true to your brand vision and mission.
The Info. Simplified.
TLDR (too long didn’t read) — Basically, do your homework. Taking the time to gather data on customers, competition and the industry can easily propel you into places you never thought you’d reach. Be alert, be strategic and be confident.
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