3. Research Audience Demographics to Identify Potential Customers

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Transcript

Businesses conduct market research to learn important details about their potential customers -- this includes...

They use this information to determine what to sell and how and where to advertise their products and services.

In this video, you will research your potential customers to help you make choices about your online business.

Then, you will add the results of your research to your slide presentation.

This type of research is called consumer analysis, and it includes both demographics and psychographics.

Perform an internet search to start looking for potential customers.

Research successful competitors to your business.

...in other words, how they want their customers to perceive their business.

Focus on the most important elements of the demographics and psychographics for your specific business.

The owner of 1 type of business may be most interested in a customer’s education level while another might want to know where potential customers live.

Review the search results.

Look for credible sources such as major news outlets and advertising trade groups.

Read at least 3 sources.

When several sources agree, the information is more credible.

When you have determined the information you need, add it to your slide presentation.

Add a new slide after your business name page.

Title it “Target Audience.”

Then, record the audience information you collected.

Another benefit of market research is that it helps you keep your target audience in mind as you continue building your business.

In the next video, you will organize the information from your research and plan how you will reach these potential customers.

Instructions

  1. Go to Google.com to search for information on potential customers.
  2. Consult at least three reliable sources.
  3. Record the information you collected in your presentation.