You probably won't find a vegan bakery in a town without a single vegan. Yet in some neighborhoods, you might find a few right next to each other. Sounds a little illogical, right? Here's why it makes perfect business sense.

Any successful business strategy revolves around reaching the right people. Maybe you've developed an app that has the potential to go viral or updated your existing product to be more inclusive. No matter the effort you've put into creating something new, if it reaches no one, the hard work has no impact.

That's where audience analysis comes in. Defining your audience and nurturing potential customers is perhaps one of the most important steps of market research, however, it does have its challenges and pain points.