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Foundations for Marketing Success: Understanding your Audience
- 2. CUSTOMER FOCUS Their common link? Make decisions based around information about customers' needs and wants rather than what the business thinks is right for the customer.
- 3. SO WHAT? IT HELPS YOU CONFIRM Product Price Place Promotion
- 4. YOU CAN DO IT! STEP 1: RESEARCH STEP 2: SEGMENTATION STEP 3: TARGETING
- 5. STEP 1: MARKET RESEARCH
- 6. RESEARCH – GETTING TO KNOW THE MARKET Who Why WhatWhere How Don’t exclude anyone at this point. It’s everyone: the good, the bad & the ugly!
- 9. GROUPING YOUR CUSTOMERS Each group needs to be unique. No one person can be in more than one group. And remember it’s the whole market: The good, the bad & the ugly!
- 10. OUTDOOR ACTIVITY Explorer Challenger Fitness in Nature Tribe Member Adventurer Learner Freestyler Thrill seeker 2m £180m £90 530k £45m £90 640k £10m £15 850k £25.5m £30 290k £35m £120 0 £0 0 £0 670k £21m £30
- 12. LIMITING WHO TO MARKET TO Yes!! 1or 2 groups maximum - You only have limited time & resources - Gives you a focus - Means you only target your best customers
- 13. THINGS TO CONSIDER Who you aren’t going to target What your business objectives are Which groups influence each other
- 14. INFLUENCERS Uncool kids 16-24 who want to be that attractive all American kid Those over 24, who want to continue to be cool
- 15. OUTDOOR ACTIVITY Explorer Challenger Fitness in Nature Tribe Member Adventurer Learner Freestyler Thrill seeker 2m £180m £90 530k £45m £90 640k £10m £15 850k £25.5m £30 290k £35m £120 0 £0 0 £0 670k £21m £30
- 16. WHAT NOW?
- 17. PERSONAS Sketch of your target audience Think about: Why they buy the product Why they don’t buy the product What their lives are like, any pain points What other service they would buy other than yours How they find us
- 18. YOUR POSITIONING/ PROPOSITION What you stand for in the minds the target audience Always start with the customer How does the competition stand up? Make sure you can deliver on the promise! Customer CompetitionCompany
- 19. CONGRATULATIONS! You’ve created your top-line Marketing Strategy Now to look at…….. Product Price Place Promotion
- 20. KEY TAKEAWAYSResearch • Start with your customers • Google is your friend Segmentation • Keep it simple • If you can find it on the internet, use that! Targeting • This is for marketing, it doesn’t exclude everyone else • Think about influencers • Create a persona for your target audience Positioning • Think customer first • Make sure you can deliver on any promises you make