To identify the target group for your product or TG is very important. It helps you advertise your product/ app to the most probable set of buyers. Entrepreneurs often wonder that almost everyone can use their app. But the probability of a 20 year old using their product will be very different from that of a 50 year old buying their product.
The better they identify, the higher conversion they can get. In the initial days of startup, we all know that funds are a big concern. Often startups cannot afford enough marketing budget as well. Thus identifying the right target group becomes very important. Now the next question is who is most likely to buy your product.
A good way to locate this is through customer surveys. Floating a survey to a market of mix of different age groups and demographic audience can help you understand the result. Often running ads open for everyone and then analyzing which TG is buying the product more – is also a good approach. Here are some set of TGs identified for certain startups.