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How to identify your target audience and choose the right crowdfunding platform for your project?

Are you going to start your own business? Have you already got a big idea for it? Before writing a successful business plan, you have to identify your target audience and define its needs in order to comply with them and make your product or service more desirable.

How to define your target audience?

First of all, analyze the following points: basic criteria, interests, needs and targets, ability to pay. The basic criteria are gender, age and geography. You should define either your goods or services are bought by men or women, teenagers or adults. The geography is also important as it will influence the logistics.

The interests are more difficult to define. You have to analyze the most frequent key words in the search engines and in the social networks. The latest will show you a list of people who are interested in your goods or services. The societies will also help you to find your target audience and better learn its needs. These societies will also give you quality traffic in the future.

Next step is to study the targets and the needs which your target audience wants to satisfy. Check if your business can help it with that. At this stage, you still can modify your project and make it correspond to your target audience’s needs.

Any entrepreneur should understand which income his or her target audience has. This knowledge will influence the pricing of the project. For example, you are going to sell premium watches for students. It goes without saying that the students will not have enough money to pay for your watches. In such a case you have to either revise your target audience, or your prices and products.

Which crowdfunding platform to choose?

After the business plan is ready, you have to look for the investors for your project. The crowdfunding platforms are the right place for the search. Decide if you are ready to pay any interest for the money received, if you are looking for the stakeholders or just want to get some charity money. Depending on your decision, you will be able to find the right platform. Kickstarter is the biggest platform which gives you maximum chances to raise the amount of money you need. Google the most popular crowdfunding platforms in your country and you will find a wide range of them. It’s more effective to use several platforms as it multiplies your chances for raising the money for your business.

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