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Researching Your Target Market - Lean Start Up Hong Kong


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Effective target marketing to reach a specific audience allows a higher probability to acquire your ideal client or customer. With changing technology and consumer behaviors, it has become …

Effective target marketing to reach a specific audience allows a higher probability to acquire your ideal client or customer. With changing technology and consumer behaviors, it has become increasingly hard to achieve results. As a lean start-up: Where do you start? How much money should you spend?

In this session, we will discuss the most effective strategies to perform local and global market research. This includes sizing up your competitors and figuring out whom you want to reach and where you need to market.

With this information, you are enabled to clearly define the features and benefits of your product and service. You are also able to create a stronger branding message that resonates with your target client or customer and effectively increase sales conversion.

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  • Examples to give?
  • Teams, Corp Consultant Freelancer, Big or Small Company, work together to provide an integrated research
  • Goal: People into seeing and hearing, within trusted networks
  • HEART: What makes it emotionally engaging?HEAD: What makes it logical and sensible?HAND: What makes it tangible and practical?
  • Transcript

    • 1. Researching Your Target MarketLean Startup Series #2Image source:,
    • 2. About Me Art Lee is a seasoned digital marketer with extensive experience in leading and managing technical projects across APAC and U.S. He has both extensive technology and business skills which are both required to effectively manage any digital marketing campaign and to ensure business objectives are met. The skills that are most valued by clients is his ability to listen and to create solutions.
    • 3. Image source:  Session #1 - Idea generation Coming up with your own ideas
    • 4.  Helping business owners to build their own businesses on a lean(er) budget  To educate business owners to make informed decisions (simple and effective)  Accommodate lowest common denominator - semi- seasoned business owners  Encourage audience participationImage:
    • 5. Where to start  How to approach your target market research  Where to start your search  How to apply it to your product/serviceImage:
    • 6. Multi-pronged ApproachBehavioralDemographicGeographicSocialgraphicPsychographic
    • 7. Behavioral Observing behaviors  How are people using Facebook What conditions a person  Normal reactions How to reinforce a behavior  Serving a specific behavior Image:
    • 8. DemographicsStatistical characteristics of a population. age income education employment location Image:
    • 9. Geographic  Population, industries, etc., of a region or regions.Image:
    • 10. PsychographicsStudy of personality, values, attitudes, interests, andlifestyles. activity opinion attitudes behavior needs Image:
    • 11. SociographicsIntegration of Demographics & Psychographics. Listen to theneeds, values, and behavior of the influential. personal needs personal profile personal attitudes social graphs/friends personal passions Image:
    • 12. Not a Debate of Analysis Demographics Interaction of Usage Psychographics Information of Usage Webographics Emotional Goals of usageRelationship with the Sensory / Immersive business character of usageSpecific Goals / Needs Accessibility issues Context of Usage
    • 13. Integrated Research & Analysis Analyze Feedback Website Data Analysis ReportSocial Media, Mobile CustomersPrint, Advertising, TV Competitors
    • 14. Where you want to be (viability) High ValueVery Useful Not UsefulImage source: Low Value
    • 15. Caffé Habitu Promotion
    • 16. A Society Slow to Change
    • 17. Some Things Don’t Change
    • 18.  All Likes do not equate to real conversion Case Study:  It expands total eyes fromNeed more FB Likes extended networks  Likes from anywhere?  The more the better  Worried about fake profiles?  My boss just wants me to get more likes than competitors
    • 19. ExerciseiPhone (IOS) Samsung Galaxy (Android) Behavioral Demographic Geographic Social graphic Psychographic
    • 20. Image source:  How and where to research Defining the Goals and Purpose of Your Campaign
    • 21. Look for Promoting Brand Advocacy Product or Service Experiences worth advocating, sharing
    • 22. Discover Hit the Heart & - Emersense
    • 23. Identify Social Segments Tools Locating Culture, Discovery, Real Time  People look for other people Data, etc. like themselves, which is called group affinity.  Locate new Micro- Communities (offline/online)  Listen to customers & influencers
    • 24. Using Facebook Research Groups based on keywords Ads based on profiles Competitor ads What is being shared Engage in group
    • 25. Using Twitter & Tools Search hastags # (keyword: topic, industry, product) Find people (influencers), Observe who follows Observer news people engage with most
    • 26. Using Linkedin Keywords for people and groups Engage with groups, share your idea Find what motivates, what people want
    • 27. Using Blogs Track buzz, what’s going on Comment on blogs Share your idea
    • 28. Use Discussion Boards/Forums Track buzz, what’s going on Comment on blogs Share your idea
    • 29. In-Person Networking Events Organizations Coffee Meetings Meet competitors Meet industry related companies
    • 30. Exercise 2 Phone Case  Come up with phone case idea that serves a specific customer based on your research.  For example (30s, female, smartphone size, colors, lifestyle, usage, etc.)
    • 31. Digital Marketer Many companies offer direct solutions (FB Marketing, list building, mobile apps, social media) What people really needed was a strategy and justification of approach, that fits their budget Serve underlying need to increase sales leads  Part time and small sized businesses  Growing businesses
    • 32. Research Points Understand what people want (can be unrelated to you), what they need (PAIN) Understand what drives competitor businesses Compare what you have to offer Further define the characteristics of ideal client Image:
    • 33. Get Busy Doing or Get Busy LosingGood Luck!Come talk to me if you have any questions.