In the last decade, marketing strategies have greatly improved. Many brands have started using many channels to enhance their performance by employing innovative marketing strategies and trends. This may be beneficial most of the time, but it can be a source of distraction too. This, in turn, places emphasis on understanding your product and your audience.
Instead of wasting resources on implementing hit-and-miss strategies, brands like yours must research first. Doing so may help your brand mitigate any cost and it may as well help you with your career as well.
The issue therein lies with this simple thought:
Not understanding your product and your audience.
If you can’t understand these two fundamental features, then marketing will feel like a game of Russian Roulette. One wrong move and your business is done and dusted!
So, let’s have a look at some of the practical methods through which you can better comprehend your product and audience.
3 Steps in Understanding Your Product
As a rule of thumb, always select a certain demographic first before you do your research.
Plus make sure the demographic you’re targeting is suitable for your product.
You can also create time within your research schedule to learn about any closely-related niches to your product.
The goal is to walk away with as much data as possible to help you make a definitive statement about your target market.
2. See What the Competition is Doing
Contrary to popular belief, competition can be very healthy for a business.
It depends on whether you see the glass as half-empty or half-full. As an optimist, you’ll be looking at the competitors you share a target audience with.
What techniques are they currently applying that’s giving them success?
Start by analyzing the different kinds of advertising methods they use. Look at how they represent their brand and implement their overall marketing strategy.
You’ll be surprised to find that there are holes in their marketing armor! You can then use this knowledge to your advantage.
3. Identify Your Customer’s Persona
Who is your ideal customer? What kinds of people simply can’t live without your products? Finding your customer persona begins by collecting bits and pieces of information from all your customers. By doing so, it will be a lot easier for you to determine a customer persona!
Data can vary from simple info, ranging from their career, up to their personal life. In fact, you can even gather complex information like their character and personality traits.
This then brings us to…
Creating A Personal Relationship with Your Client
Unfortunately, this might not be so easy for a startup considering that it is, well…uhm… a startup.
On the bright side though, startups can take this as a motivation to take customer interactions seriously.
Because you’ll definitely want to know (down to the very last detail) what inspired these guys to give your business a chance before anyone else did
And from the information you’ve gathered, why not build a simple backbone for your marketing strategy and continue from there?
Remember though; all the information you’ve collected needs to have some sought of workable process.
Otherwise, it’ll just be a bunch of ideas without a realistic output, right?
Bottom-line is; you’ll need to have conceptualized the impact just as strongly as you have the idea!