target demographic

9 Steps to Creating an Awesome Business Name: Part 2 – Target Demographic

Over the next few weeks, we’ll be sharing a series of posts outlining nine steps that will help you create the perfect name for your company, product, service, e-book, app, and just about anything else. This article is Part 2 of the series, focusing on finding your target demographic. Read Part 1 here.

In Part 1 of this series, you learned how to create a clear statement of purpose to focus your brand and its messaging. Now that your purpose is outlined, it’s time to ask “who cares?” Defining your target demographic is the essential next step in creating an awesome business name. By defining the people who want to buy your product, you can craft your name and messaging to appeal directly to your ideal customer.

Who is your ideal customer?

Take some time to sit down and sketch out which type of people will be the most interested in your idea. These people should be willing and able to pay for your product or service – there is no point in marketing to people who will be unable to purchase your product.

Ask yourself “Who am I naming this for?”, “Who should this name appeal to?”, and “What are the demographics of these ideal consumers?” The answers to these questions will help you to create distinct personas (also called avatars) that will represent your ideal customer as you continue with the naming process.

Create your personas

It’s now time to put together detailed information about your target customer. Essentially, you are creating a fake person with real details about your target customer. Information about your persona should include their name, an image (taken from Google or stock photo software), their age, gender, location, income level, characteristics, wants/desires, and purchasing habits.

While some of this information should be clear to you from the start, you can enhance your persona by conducting market research. Online statistics will help you understand the basic demographics of your target market better and narrow the focus of your persona, while a survey or poll on social media may give you deeper insight into the wants and desires of your persona.

Example of a Persona – WoofWatchers

Here’s an example of a simple persona for our friend who is launching the petsitting app:

Name: Jennifer
Demographics: Female, 30-40, living in urban area, moderate amount of disposable income, owns one to two dogs
Characteristics: Tech-savvy, enjoys the convenience of apps to connect with people, cares about the safety of her pets, loves to travel
Wants/desires: Wants to find a reliable petsitter with minimal effort, wants sitter who has been reviewed by others, looking for a way to make traveling easier, wants to compare prices to find the best deal

The creator of the petsitting app would also likely create several more personas, each representing another part of the broader target market. Other personas could include a petsitter or an older, less tech-savvy user.

What’s next?

Once you create your personas, use the information you compiled to help you find real people that match your avatar. They may be friends, acquaintances, colleagues, or people you surveyed online. Undertake some basic market research – run your Statement of Purpose by them, and get their feedback on your idea. Based on their opinions, it may be necessary to go back and revise your Statement of Purpose to better appeal to your target market.

Now that you have your Statement of Purpose and personas squared away, it’s time to move onto Step 3 – finding what makes you unique. Stay tuned for the next article in the 9 Steps to Creating an Awesome Business name series!

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