How to find your market niche!

An important part of planning your business is to know who will use your products/services. Finding your market niche is key to your business success!

The vast majority of small businesses will rely on their communities for sales. However, it is in your best interest to get to know everything you can about your community, and the type of consumers who will use your products/services.

Please don't spend advertising dollars on consumers who don't want or need your products/services. First, find out who are your potential consumers. This is where your marketing research will provide you with answers to the following questions:

Are most of your consumers female?
Are most of your consumers male?
Are they an even mix of male & female?
What is their average income bracket?
Where would these consumers generally congregate?
What are their interests?
What is the average size?
What is their average age?
What type of work do they do?
Do they live in apartments, houses or rural areas?
What is the average family size?
Which radio stations would they most likely listen to?

Researching the answers will enable you to define the physical limitations of your business and build a profile of your average consumer. Some of the most successful businesses know exactly who they are catering to. With the answers to the above questions, you can formulate marketing strategies aimed specifically at those consumers that need/want your products/services.

Break it down into demographics and the types of people who live there. Then you will be able to make informed marketing decisions. Finding out the income levels of your average consumer is vital. Don't waste your time trying to sell expensive items to low-income consumers. Study your consumers purchasing habits. Once you have a better idea of who you are targeting, you can then research the best way to advertise and promote your business in the right market niche!

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