Donald says social media is vital given that people always trust what their friends endorse over anything that an expert could recommend.
“Both online but also offline, you need to build ways for your current customers to share your business with their friends. Make it easy for them by offering them incentives for them to do so – discounts work well.”
Another tool is Google key words, says founder of Sydney digital agency New Republique, Nima Yassini.
“This will tell you how many people are searching for key words. And we know that Google holds 80% of the search market, so you can start to get a clear picture of the size of the market you want to tap into.”
Alternatively, opt for an online survey. SurveyMonkey provides tools for businesses to design an online questionnaire, or there’s kissinsights, which enables businesses to survey visitors to its website.
Yassini worked backwards when building his business. “Identifying your customers shouldn’t start until you firstly understand your brand and what your business is about. Be clear about the product or service you’re offering first.”
Yassini researched exactly what was out in the market and identified a gap in the market.
He then considered what type of organisations would have to pay for that product and contacted them with his offering.
He now counts a number of blue chip clients among his clients despite only launching the business 18 months ago.
Once you know who your customer is, you may need to consider adapting your service or product to suit their needs, says Tarrant: “Understanding your customer presents a lot of opportunities for a business.”
But the process of uncovering your customer base takes time and a level head, Yassini says.
“While there are numerous tools out there, there is no clean cut way to discover who your audience is. You have to navigate your own path,” he says.
Google key words: Key words enable you to get a clear picture of how many people are searching for your product or service online.
Focus groups: Conduct in small groups and make sure you reward those taking part with a discount or similar.
Social media: A page on Facebook could give your start-up the chance to see exactly who your customers are and what makes them tick.
Track purchases: Tracking purchases can enable you to see exactly who your customers are and what they like about your offering.
Work backwards: Work out what your offering is and then what type of business could benefit from that offering to uncover customers you may not have considered.
