Whether you’re a start-up or an established business it’s essential to really understanding your target market. Spending time and money on market research now will mean your strategy, tactics, and marketing messages are much more likely to deliver the results you want.
At Sustainable Marketing Services we help new clients understand for example why their branding isn’t getting traction, or how they can raise awareness of their products by asking three questions:
1. What is the marketing issue or challenge?
That means understanding what clients are trying to achieve with their marketing strategy. Is it a general increase in sales or a focus on a new product? Who are you currently targeting and how are you performing against performances goals? Who are your most profitable customers?
Understanding your target market doesn’t just mean knowing it’s blokes aged 25 to 40 who buy most of your stuff; it’s about understanding what drives them to make the decision to buy, which leads to our second question:
2. What customer needs are you trying to meet?
The best way to answer this is to ask them; that means conducting market research, surveys, phone interviews, annual customer debrief surveys. Using a range of tools we build a profile of your target market, identifying their key drivers, and from there we build a marketing strategy.
Of course your business and the needs of your target market are continually growing and evolving which leads to our third question:
3. What’s changed?
Tastes change, and last year’s top seller can quickly be this year’s bargain bin filler. At Sustainable Marketing Services we work with you to understand your evolving business so your brand story develops with it. For example, one of our clients decided to change the focus of their sales strategy from consumer to commercial which meant identifying and understanding a new target market.
If you continually invest in your brand then your brand story will also evolve. When a dynamic start-up becomes an established player it has a different position in the market and needs to tell a different story.
What your customers valued about your business in 2016 might also differ from what customers valued in 2015, and how they describe your business might change. So it’s important to continually refine your message to keep it relevant.
Let 2016 be the year to take your brand story to the next level.
Book in for a coffee and an informal chat about how Sustainable Marketing Services can help you understand your customers better.