Which comes first:
Your product?
Or your target market?

Ask a Marketer, Product Manager, Brand Strategist, etc. and you’ll probably get the same answer from all of them:
Your Target Market.

Here’s why they’re ALL wrong.

Ok a little harsh… They’re just not exactly right…

When it comes to creating a new financial service or fintech product, it’s CRUCIAL that you build something that you can build REALLY well.

If you just look for the most profitable market to serve without considering how well you can serve them, you run the risk of building a mediocre product that has a tough time getting off the ground.

You might eventually get it going, but it’s going to take some time.
And remaining solvent through that period will be a battle.

A much better approach is to consider your strengths and what you could BEST build.

Only once you have a decent understanding of your best options should you start researching your target market.

Now you can go find the target market that matches your best skills.

And that’s how you create a winning product that has strong demand from a target market.

*Caveat: this is completely irrelevant to companies with large amounts of funding.

Digging deep on banks is what I do.

🔔 Find me here, weekdays at 8:30 EST, for insights on banking, data science, and some of my crazy adventures. 🔔

Looking for a competitive edge for your bank?
Visbanking has 600+ Million records on over 10,000 banks so you can make confident business decisions.
DM me to request a demo.


Learn more on this topic

Related Insights