Target Marketing: Dig Deep…No, Deeper!
Who wants to buy your product? It’s too easy to think you know the answer. Target market analysis is about discovery, not assumptions.
In 2016, tech giant Samsung directed their sights for growth on small and medium size enterprises in 5 UK cities. The marketing team got to work: what was going on in the lives of the owners and staff of such businesses? Aside from having 10-250 employees, they uncovered most didn’t get much sleep, they rarely took enough time off, and were run off their feet trying to keep everyone else happy.
Samsung also found that this particular group is so reliant on technology that every day hangs in the balance as “good” or “bad” depending on technology working properly.
Hey, we understand you!
The “light bulb” went on over the marketing team’s collective head. The “More Good Days at Work” campaign highlighted the idea that every day—and every business—can be jeopardized by technology that lets you down (something, of course, Samsung technology wouldn’t do). In addition, the campaign included events, blogs and social activities that made the entrepreneurs feel appreciated and understood, with bonus gifts like free media space, product offers, even cupcakes and strong coffee delivered to their offices.
The campaign was a huge success, winning 'Best SME targeted campaign' at the B2B Marketing Awards 2017.
Never assume. Find out everything and then some
Target market analysis is about gathering as much information possible about your potential customers in order to figure out the best way to market and sell to them. The trick: don’t settle for a general description. You want to dig deeply into what makes these people tick.
Demographics are essential but don’t overlook psychographic characteristics such as values, attitudes, lifestyle, company culture, etc. What do they like? What drives them crazy? What makes them get up in the morning? What makes them want to quit?
Where are they active on social media (which is different than just being on social media)? A B2B buyer is probably on Linkedin but it doesn’t mean that they use it.
What makes them “feel” like you understand them? We believe you should pay particular attention to what you hear from your salespeople.
Your target market could be full of surprises. And if that’s the case, it’s a good thing you figured it out before you tried to sell them something.
If you need help to reach your target market, a specific service or a full go-to-market plan created and executed, let us help. We are a B2B Marketing Agency in Toronto that takes you where you want to grow.