Target marketing presentation for Seedspot clients, presented in 2012. Helps startups focus on where to invest their time and energy. Exercises help early stage entrepreneurs think about the marketing strategies and sales strategies. Goal, find the buyer! Nothing happens until something is sold.
CHARACTERISTICS OF YOUR CUSTOMER Demographics Psychographics Associations Influencers
DEFINING CHARACTERISTICSDEMOGRAPHICS PSYCHOGRAPHICS Demographic segmentation consists of The science of using psychology and dividing the market into groups based on demographics to better understand variables such as age, gender, family consumers. size, income, occupation, education, reli Psychographic segmentation: consumer gion, race and nationality. are divided according to their Most available information about your lifestyle, personality, values and social potential customer is demographic. class.ASSOCIATIONS INFLUENCERS An organization of people with a The capacity or power of persons or common purpose and having things to be a compelling force or formal structure. produce effects on the actions, behaviors, opinions of others.
DEFINE YOUR CUSTOMER - EXERCISE #1Demographics Psychographics Associations Influencers (Behavior / Socio)B2C • Personality • Professional • Final Decision• Age • Values • Personal Maker• Gender • Attitudes • Social Graph • Inner Circle• Race / Ethnicity • Interests • Groups • Owns Your• Geography • Lifestyles • Affiliations Customer• Education • Needs • Community Relationship• Occupation • Activities • Media / Marketing• Employment • Social Profile • Social Contacts Status • Passions • “Like” Brands• Religion • Competitors• Household Income• Family Size• Marital StatusB2B• Industry• Public / Private / Gov’t• Revenues• Employees• Title
YOUR CUSTOMER DEFINITION (EXAMPLE)1. Business2. Decision Maker – Technology / Ops3. Competitive4. Smart5. Highly complex6. Lots and lots of data - disparate7. Technically adept8. Lack of information on what data tells them9. Unable to manage costs or data / lack of control10. Desire to be heroic, make a footprint, have a legacy
REACHING YOUR TARGETSLISTS AND LEADS ONLINE• Direct Marketing • Website• Advertising • Advertising• Sales: Telesales, Direct Sales • Social MediaPARTNERS AND CHANNELS ASSOCIATIONS• Distributors • Networking• Buying Groups • EventsPOS: • Groups• Retail INFLUENCERS• Onsite
FINDING YOUR CUSTOMERS – EXERCISE #2LISTS AND LEADS PARTNERS AND CHANNELSONLINE ASSOCIATIONS
ENGAGING YOUR CUSTOMERSSTART THE CONVERSATION…• What is the need?• Is it a problem or opportunity to change /improve?• What is the cause of the problem or creating the opportunity?• How long has it been a problem or desire?• How much is it costing to go without?• What are you doing about it?• Is there urgency to buy now?
THREE DISTINCT TARGET GROUPS – EXERCISE #3TARGET NEED COST RELIEF
RELATING TO CUSTOMERS - DRIVERS Benefit Feature Need
INFLUENCERS – EXERCISE #4Key Influencers Passions Where Are They? How They Influence Your Buyers
NURTURING YOUR CUSTOMER Buy Follow Conversation Raving Fan
LOYALTY LADDER: CREATING RAVING FANSObjective: Move customers up the loyalty ladder to create Raving Fans May invest In you Seeks to collaborate on new product development Willing to pay Most Valuable Customers premiums Resists competitors’ blandishments Endorses product Wants to grow relationship Commodity buyers
LEADS AND BUYERS ARE AN ASSET Customer Relationship Management
COST TO ACQUIRE A CUSTOMER• Know What You are Willing to Spend• Set a Budget• Define Your Marketing Mix• Measure Results of Acquisition• Measure Customer Profitability• Use Customer Intelligence - DATA• Focus on Profitable Customer Relationships
START MARKETING NOW…1. Build relationships2. Listen to the buyer3. Join the conversation4. Influence decisions5. Manage your reputation6. Be in the game
WHERE TO MARKET – EXERCISE #5Build Listen Join Influence Manage Be in the game