© 2009 tab boards international, inc. all rights reserved. identify and understand your target...
TRANSCRIPT
© 2009 TAB Boards International, Inc. All rights reserved.
Identify and Understand
Your Target Market
© 2009 TAB Boards International, Inc. All rights reserved.
Introduction
Designed to help you:
Define, identify and locate your core customer
Manage your marketing function more effectively
© 2009 TAB Boards International, Inc. All rights reserved.
Who Are You? Internal understand of your:
Strengths and weaknesses Positioning in the marketplace
What are the features of your product or service?
Examples: One stop shopping Safety Private coaching
© 2009 TAB Boards International, Inc. All rights reserved.
Who Are You?
What are the benefits of your feature or service? Try to keep it at one or two benefits
Examples:
One stop shopping = Time and gas saving
Safety = Protect your family from harm
Private coaching = focus on your individual needs/wants
© 2009 TAB Boards International, Inc. All rights reserved.
Who Are You?
What emotional need, pain or challenge would a customer have that you can alleviate through the benefits of your product or service?
How do your benefits differentiate from the competition? Who are they?
Why do clients continue to work with you?
© 2009 TAB Boards International, Inc. All rights reserved.
Who are you?
Focus on owning a word in your prospect’s minds. Be sure no one else owns the word or focus.
Volvo = the safest car
Be sure you have adequate funding to complete your program.
© 2009 TAB Boards International, Inc. All rights reserved.
Research The following slides have questions
that must be answered to produce sales in your market.
Use questionnaires or phone conversations with your customers to gain insight.
May have to hire a research firm.
© 2009 TAB Boards International, Inc. All rights reserved.
Identify Your Customer
Use research to determine:
B to C Demographics: age, gender, geography, etc.
B to B Firmographics: industry, revenue, employee size, geography, etc.
What is a day in the daily life like?
Where can you reach them?
© 2009 TAB Boards International, Inc. All rights reserved.
Identifying Your Customer
Psychographics – how does your customer think?
What do they read, drive, eat?
What are their favorite activities?
What other companies do they support?
When and how often does your customer buy?
© 2009 TAB Boards International, Inc. All rights reserved.
Identifying Your Customer
Baby Boomers (1946-1964+/-) 81 million The “US” generation
Gen-X (1965-1979+/-) 46 million The “I” generation
Gen-Y , Millennials, echo boomers, baby busters (1980-1995+/-) 75 million The “All” generation
© 2009 TAB Boards International, Inc. All rights reserved.
Who Is or Could Be Your Target?
Do you know who your core customer is today?
Open your mind and ask yourself who else could use your product or service?
Redefine the definition of your core customer.
© 2009 TAB Boards International, Inc. All rights reserved.
Customers with Extreme Needs
Who can your product/service target focus?
Examples:
Elderly
Families
Business owners
Pet owners
© 2009 TAB Boards International, Inc. All rights reserved.
Challenging Customers Can you focus on opportunities that
others shy away from?
Examples:
Garbage removal
Toxic waste removal
Customers whom others do not want to deal with
© 2009 TAB Boards International, Inc. All rights reserved.
Customers Who ControlSpending Decisions
Who are the actual buyers of your product? Which customers control the buying decisions?
Example:
Architects
General contractors
© 2009 TAB Boards International, Inc. All rights reserved.
Customers with Varying Levels of Category
Experience Focus on new people to your product category.
These are customers who may not have an understanding or negative perception of your product.
Example: Wine tastings and lecture Solar energy educational TAB board presentations
© 2009 TAB Boards International, Inc. All rights reserved.
Narrow Your AimPositioning Statement
For (target audiences) Who are dissatisfied with (current
status) That provides (list the problem-solving
capability) Unlike (competition or alternatives) We have (list benefits) Your mission (list mission)
© 2009 TAB Boards International, Inc. All rights reserved.
Marketing TacticsMarketing includes an integrated mix of tactics to generate demand from potential and existing customers.
© 2009 TAB Boards International, Inc. All rights reserved.
Target Marketing
What is the most successful tactic to reach your current customer?
How do you know that? Does it fit your budget?
Blogging
Social networks
Non-targeted, broadcast pitches are spam
© 2009 TAB Boards International, Inc. All rights reserved.
Target Marketing
Telemarketing
Trade shows
Word of mouth (WOM)
Webinars
Wiki
Direct mail
© 2009 TAB Boards International, Inc. All rights reserved.
Target Marketing
Think about buyers preferred Media
Web content
Use your buyers words
All releases should contain keyword-rich copy
© 2009 TAB Boards International, Inc. All rights reserved.
Guerilla Marketing Unconventional Unexpected Energy and imagination rather than
a big marketing budget
© 2009 TAB Boards International, Inc. All rights reserved.
Conclusion
The most effective marketing is generally a mix of different methods and tactics.
No one person can be an up-to-date expert on all the marketing methods and tools.
© 2009 TAB Boards International, Inc. All rights reserved.
Conclusion
Your best marketing practices need to be continually improving with “fresh ideas.”
Remember, your competition wants to stand out.