Think about your current customer base. What do your customers love about your product? What have they complained about? Make a list of needs your product has fulfilled, and also include a list of needs your customers have but that your product has not always satisfied.
Next, consider your competitors’ target audiences. How does a competitor’s audience differ from your audience? What can you do to reach them? One thing to note, however, is that you may not want to go for the same audience as your competitors. You might lose your loyal customers in your niche. It’s good to weigh your options.
List every single benefit of your product and then next to each benefit, write down the type of people who need those benefits in their lives.