Surviving in the business world is extremely hard especially if you don’t know what you’re doing. Evidently, most businesses close down after some time due to lack of knowledge about the marketing world. In order to get through the fire and brimstone that has been brought down upon you and your company, you must learn the ways of a true salesman. Your guts must be made of steel and your heart with platinum while your will with iron and your spirit with diamonds. It is better to be prepared than having to face the consequences of failure.

so what are the things that you should know about your target market? Are they really that important? Obviously yes! They will be the life source of your establishment and will be responsible for your success or failure. So if you really want to hit your target profit, you must know ten things about your target market, and they are the following:

1.       Your target clients
Identify your potential customers. Knowing who they are will define what services and products you will offer. Take time to know them and get as much information as you can.
2.       Client Lifestyle
Are they rich? Are they poor? Are they social? Are they inactive? These are just but a few things you would have to know about your client’s lifestyle. It will greatly help your marketing strategies since lifestyle can defines a person’s way of life.

3.       What customers like to do
Knowing your clients’ hobbies is just as important as knowing the clients themselves. This in particular will give you more leverage because knowing what a customer likes is like having a reference during a test.
4.       Client problems
Another important aspect in the marketing world is knowingwhat your client’s problems are or in other words the things that they do not have yet. This will give you an idea of how to present your product to the customer.

5.       Your products benefits
It is very important to know what benefits the clients may get from your product. This will make the sales pitch easier and better. Remember, customers are more interested in a product or service that will benefit them.
6.       How your product will help your customer
This is indeed one of the key aspects of hitting your target profit. Giving a detailed presentation and analogy of how your service or product will help your client personally or professionally is definitely a home run for you and your company.

7.       Your service or product’s place in the market
Remember, first impressions always lasts. Proving that your services and products are of top quality and ranking will definitely help you attract more potential clients and customers.

8.       Know the competition
It is very important that you get to know your rivals. Knowing what you are up against is a key role in surviving the marketing game and hitting the target profit. Know your enemy as well as your enemy’s enemy.
9.       Rival Weaknesses
Take time to observe where other companies are failing. Know what they are lacking and use it to your advantage. Create ideas from their mistakes and use them to get more customers.

10.   The IT factor
This just might be the most important factor of all. Knowing why you stand out above all competitors will define the number of clients that you will get and the amount of profit you will make.