The document discusses leveraging market research for business differentiation and branding through competitor analysis and understanding target markets. It emphasizes the importance of defining brand identity, analyzing customer data, and adapting services and marketing strategies based on findings. Additionally, it provides a roadmap for reaching target markets effectively, establishing a marketing plan, and using regular market research for continuous improvement.

1. Using Market Research to
leverage Business, Branding,
and Strategic Marketing

2. What We’ll Cover Today

3. What We’ll Cover Today

4. Spy on your competitors:
What do they say about themselves?
How are you different?

5. Where can you research them?
Websites
Networking Events
Google
Press Releases
Social Media
Ask mutual contacts

6. The more you understand
your competitors,
the more effectively you can
position your company!

7. How can you differentiate from them
to stand out in your markets?

8. Define your brand identity. Get
beyond your services list to what
makes you different – an elevator
pitch could capture this.

9. Focus on talking about WHY
you are a better choice
We can help you grow your business
We can help you streamline operations
We can help you expand your capabilities
We can help you make better products
We have the best customer service
We have the most experience
We have the lowest price (be careful with this)
We are local

10. What We’ll Cover Today

11. Who buys from you?
Do they all look alike?

12. Or are they all a bit different?

13. The more you understand
your different target markets,
the better you can structure
your products, services and
marketing efforts.

14. Start by analyzing your
existing customers
Look at your revenue and profitability data by customer and customer
segment. Are there any trends? Any customer profile that is NOT
profitable? Any that were more profitable than you realized?

15. Target market examples
Men who like to go fishing
and live in Alabama,
Tennessee, or Georgia
and make at least $60,000
per year

16. Target market examples
Women between the ages
of 25 and 65 who live
within 30 miles of Decatur,
Alabama

17. Target market examples
Small businesses with at
least 5 employees and
revenue of at least
$750,000 per year

18. Target market examples
The HR Directors at major
industries in Decatur such
as BP and 3M

19. Target market examples
Government Contractors
in Huntsville

20. Understand the value and
potential of each of your
Target Markets

21. What does your own data tell you?
 3 year dashboards
REVENUE BY
SEGMENT
2012 2013 2014
Government
contracts
$3,100,000 $4,300,000 $2,600,000
Industries $1,500,000 $1,600,000 $1,800,000
Institutions $800,000 $650,000 $950,000

22. What does your own data tell you?
 3 year dashboards
PROFIT
MARGIN BY
SEGMENT
2012 2013 2014
Government
contracts
5% 5% 3%
Industries 12% 14% 13%
Institutions 8% 9% 9%

23. What does your own data tell you?
 3 year dashboards
REVENUE BY
SERVICE
2012 2013 2014
Fabrication $4,200,000 $4,300,000 $4,400,000
Engineering $2,200,000 $2,300,000 2,500,000
Service $800,000 $850,000 $950,000

24. What does your own data tell you?
 3 year dashboards
PROFIT
MARGIN BY
SERVICE
2012 2013 2014
Fabrication 8% 10% 9%
Engineering 11% 12% 12%
Service 3% 4% 5%

25. Ask your existing customers
(survey)
 What products/services do you wish we
offered?
 What is your biggest need that you think
we can help you with?
 Do you foresee that your need for our
services will expand or contract over the
next 12 months?

26. What do industry or other
sources tell you?
 What is the buzz on industry blogs
and social media channels?
 What are demographic trends?
 What do industry trade publications,
seminars, or trade research tell you?

27. Do your own market research
on a LinkedIn group page

28. Do your own market research
on a LinkedIn group page

29. Prioritize your target markets
1 2 3 4 5
What resources should you put into servicing or
growing each target market?

30. What We’ll Cover Today

31. First define your services &
message for each market
Should your services be packaged or marketed a bit
differently for different markets?

32. Do this in Excel
AUDIENCE PRODUCT/SERVICE MESSAGE
General Business Branding, print
design, web design,
marketing & social
media consulting
We can help you be
more strategic with
your marketing so
your business grows
Economic &
Community
Development
Organizations
Web design, retail
recruitment guides,
presentation
materials
We can help your
community attract
the attention of site
selectors and
retailers
Existing Customers All services – with a
focus on new
services
Don’t forget we can
help you with a wide
range of services
List each
Audience…
…and the
service/product you
want to provide each
…and the
message you
want to tell each

33. Next, determine the best way to reach each market
AUDIENCE PRODUCT/SERVICE MESSAGE BEST WAY TO REACH
General Business Branding, print
design, web design,
marketing & social
media consulting
We can help you be
more strategic with
your marketing so
you get results
Networking, public
speaking, sales reps,
referral program,
social media
Economic &
Community
Development
Organizations
Web design, retail
recruitment guides,
presentation
materials
We can help your
community attract
the attention of site
selectors and
retailers
Industry
Tradeshows,
sponsorships,
referral program, e-newsletters,
blog
Existing Customers All services – with a
focus on new
services
Don’t forget we can
help you with a wide
range of services
Social media, Direct
mail, referral
programs, e-newsletters,
calls
List each
Audience…
…and the
service/product you
want to provide each
…and the
message you
want to tell each
…and the
best ways to
reach each

34. Research your options
 Are there industry associations that allow
networking, tradeshows or advertising?
 What local events do women go to and
what local groups do they belong to?
 What magazines or newspapers do my
customers read?
 What websites do my customers visit?

35. Where can you reach each
target market…
Newspapers
Direct Mail
Trade
What ad size will work? Publications
How many people will it reach?

36. Buy a database

37. Where can you reach each
target market…
Claim Google My
Business, & Bing
Places listings
Online
Advertising &
Pay per Click
Social Media
Advertising

38. Where can you reach each
target market…
Television
Radio
Billboard
What are they watching/listening to?
What times? Where are they driving?

39. Where can you reach each
target market…
Community
groups
Trade
Associations
Conferences

40. What else can I use?

41. How do you choose?
 What can you afford?
 Spread out your visibility over time
 What can you consistently deliver? Is a
monthly e-newsletter realistic?
 Biggest rule: Have a presence in as
many places as possible within your
budget: a small ad four times is better
than a big ad once

42. Develop your 12 month plan and budget
Do date/pricing research for print ads, events. Then plug in around those.

43. Develop your 12 month plan and budget
Do date/pricing research for print ads, events. Then plug in around those.

44. Build in Structure and
Accountability with Monthly
Marketing Meetings
 What happened last month? Did it yield results?
Should we do anything different?
 What is coming up? What do we need to
prepare?
 Anything anyone is seeing in the industry as an
opportunity or threat?
 Any customer feedback on products or
services?

45. What We’ll Cover Today

46. Rule #1:
Regularly
pulse your
company with
market
research –
PAY
ATTENTION!

47. Rule #2:
ADAPT
QUICKLY!
• New services
• New products
• New marketing
strategy
• New positioning
statements

48. Bottom Line:
You don’t have to be perfect.
You just have to be better
than your competitors.

50. Download this presentation at
www.slideshare.net/ellendid4
Please connect with me!
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