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How do you track your target market changes?

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How do you track your target market changes? If you are a sales professional, you know that staying on top of your customers' needs, preferences, and behaviors is crucial for success. But how do you monitor and adapt to the shifts and trends that affect your target market? In this article, we will share some tips and tools that can help you track your target market changes and adjust your sales strategy accordingly.

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1 Identify your target market segments

The first step to track your target market changes is to define and segment your target market. You need to know who your ideal customers are, what problems they have, how they make buying decisions, and where they hang out online and offline. You can use various criteria to segment your target market, such as demographics, psychographics, geographics, behavioral, or needs-based. Segmenting your target market will help you tailor your sales messages, offers, and channels to each group and measure their responses.

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Dheeraj Kumar Singh

Senior Regional Manager North at Bajaj Indef
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Find out your ideal Coustmer. Focus on client who are more comfortable with technical solutions not on prices. Don’t go with mind that you have to sell your products, visit to understand client pain area and how you can help him in that.

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2 Monitor your target market feedback

The second step to track your target market changes is to collect and analyze their feedback. You need to listen to what your customers and prospects are saying about your products, services, brand, competitors, and industry. You can use various methods to gather feedback, such as surveys, reviews, testimonials, social media, forums, blogs, podcasts, webinars, or events. Feedback will help you understand your target market's satisfaction, loyalty, expectations, pain points, and opportunities.

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Dheeraj Kumar Singh

Senior Regional Manager North at Bajaj Indef
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Sales means listen more and more. Try to discuss the issues related to your products. Try client to feel comfortable with you so that he will share his issues. Relations building is much much needed.

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3 Research your target market trends

The third step to track your target market changes is to research and anticipate their trends. You need to stay updated on the external factors that influence your target market's behavior, such as technology, economy, society, politics, environment, or culture. You can use various sources to research trends, such as reports, publications, newsletters, podcasts, webinars, events, or influencers. Trends will help you identify your target market's needs, wants, challenges, and opportunities.

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4 Track your target market metrics

The fourth step to track your target market changes is to measure and evaluate their metrics. You need to know how your target market segments perform in terms of sales, revenue, profitability, retention, churn, conversion, engagement, or satisfaction. You can use various tools to track metrics, such as CRM, analytics, dashboards, or reports. Metrics will help you assess your target market's value, potential, growth, and risks.

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5 Test your target market hypotheses

The fifth step to track your target market changes is to experiment and validate your hypotheses. You need to test your assumptions and ideas about your target market segments, such as their needs, preferences, behaviors, or responses. You can use various techniques to test hypotheses, such as A/B testing, split testing, landing pages, email campaigns, or ads. Testing will help you optimize your target market fit, offer, message, and channel.

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6 Adapt your target market strategy

The sixth and final step to track your target market changes is to adjust and improve your sales strategy. You need to use the insights and data you gathered from the previous steps to make informed decisions and actions that align with your target market segments. You can use various methods to adapt your sales strategy, such as segmentation, positioning, differentiation, value proposition, pricing, promotion, or distribution. Adapting will help you increase your target market attraction, retention, and loyalty.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you track your target market changes?

1

2

3

4

5

6

7

1 Identify your target market segments

2 Monitor your target market feedback

3 Research your target market trends

4 Track your target market metrics

5 Test your target market hypotheses

6 Adapt your target market strategy

7 Here’s what else to consider

Sales

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How do you track your target market changes?

1

2

3

4

5

6

7

1 Identify your target market segments

2 Monitor your target market feedback

3 Research your target market trends

4 Track your target market metrics

5 Test your target market hypotheses

6 Adapt your target market strategy

7 Here’s what else to consider

Sales

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