Product Focused Approach
Posted: Sun Dec 22, 2024 7:10 am
If your product has unique features that can solve your customers' problems, use that as the basis for defining your target audience. Here's what you need:
Compare the characteristics of your product with those of your competitors and highlight 3-4 of its key features.
Survey your current customers to find out which features they value most.
Determine what needs your product satisfies.
Find out who exactly is using it by age, gender, income and profession.
Take a closer look at how your customers are divided by interests and purchasing motivations.
How did customers get information about this product?
In what format are purchases made - in a italy business mailing list real store, online, using non-cash funds or banknotes?
Product Focused Approach
Source: shutterstock.com
The information obtained will allow you to highlight the strengths and weaknesses of your product. This will help determine its promotion strategy and anticipate possible difficulties. And will serve as the basis for further segmentation of your target audience:
bought and are happy;
purchased the product but have complaints about its quality;
are planning to make a purchase;
do not intend to purchase the product.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow
Find out how
Market Research Method
It is based on the analysis of the market, potential audience and competitors. Technology:
Conduct a comprehensive study of customers, partners and competitors. This will help determine who currently offers a similar product on the market, how much demand there is for the product, and what promotion methods should be used.
Conduct a survey of existing and potential customers: what do they pay attention to when purchasing a product/service, what characteristics are important to them, how do they prefer to interact with your company.
It is recommended to conduct a competitor analysis by studying their products, unique offers and strategies for interacting with the target audience.
The best option is to entrust this task to experienced analysts using Big Data methods. Thanks to this, your audience profile, brand positioning in the market, the effectiveness of PR campaigns and the readiness to purchase your product will be studied in detail. The end result will be an accurate research report that will help to create hypotheses and make effective investments in advertising.
Social media analysis.
Use specialized tools for this. Parsers are a reliable solution for collecting and structuring data without the need for programming knowledge or hiring specialists. Just specify the parameters and activate the service. For example, with TargetHunter, you can get information about various characteristics, such as:
communities;
users;
news;
contact details;
video recordings;
activity.
Divide your audience into consumers and decision makers
Please note that the target audience of the product can be divided into two categories. These are end consumers and decision makers (DM). So, if you provide courses to prepare for the Unified State Exam, then schoolchildren are the first group, and their parents make the decision about the purchase. In some industries, the end consumer and the DM may be the same person. For example, in the restaurant or hotel business.
Recommended articles on this topic:
Example of a cooperation proposal: just follow the instructions
B2B Marketing: Key Features, Promotion Channels
Marketing Department KPI: 11 indicators and calculation example
Stages of target audience segmentation
Let's look at the main stages:
Stage No. 1. Formation of a list of criteria
We need to decide on the categories by which we are going to divide the target audience. For companies with a wide range of products, this step is especially important. Analyze the resulting list of features and exclude those that do not allow you to combine buyers into one group. Select 2-3 main criteria from the list. The rest will be used for a detailed description of each segment.
Don't try to segment without a full understanding of the market. Marketing research, market surveys, interviews with company executives, and communication with sales managers will help you, as they interact directly with customers.
Compare the characteristics of your product with those of your competitors and highlight 3-4 of its key features.
Survey your current customers to find out which features they value most.
Determine what needs your product satisfies.
Find out who exactly is using it by age, gender, income and profession.
Take a closer look at how your customers are divided by interests and purchasing motivations.
How did customers get information about this product?
In what format are purchases made - in a italy business mailing list real store, online, using non-cash funds or banknotes?
Product Focused Approach
Source: shutterstock.com
The information obtained will allow you to highlight the strengths and weaknesses of your product. This will help determine its promotion strategy and anticipate possible difficulties. And will serve as the basis for further segmentation of your target audience:
bought and are happy;
purchased the product but have complaints about its quality;
are planning to make a purchase;
do not intend to purchase the product.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow
Find out how
Market Research Method
It is based on the analysis of the market, potential audience and competitors. Technology:
Conduct a comprehensive study of customers, partners and competitors. This will help determine who currently offers a similar product on the market, how much demand there is for the product, and what promotion methods should be used.
Conduct a survey of existing and potential customers: what do they pay attention to when purchasing a product/service, what characteristics are important to them, how do they prefer to interact with your company.
It is recommended to conduct a competitor analysis by studying their products, unique offers and strategies for interacting with the target audience.
The best option is to entrust this task to experienced analysts using Big Data methods. Thanks to this, your audience profile, brand positioning in the market, the effectiveness of PR campaigns and the readiness to purchase your product will be studied in detail. The end result will be an accurate research report that will help to create hypotheses and make effective investments in advertising.
Social media analysis.
Use specialized tools for this. Parsers are a reliable solution for collecting and structuring data without the need for programming knowledge or hiring specialists. Just specify the parameters and activate the service. For example, with TargetHunter, you can get information about various characteristics, such as:
communities;
users;
news;
contact details;
video recordings;
activity.
Divide your audience into consumers and decision makers
Please note that the target audience of the product can be divided into two categories. These are end consumers and decision makers (DM). So, if you provide courses to prepare for the Unified State Exam, then schoolchildren are the first group, and their parents make the decision about the purchase. In some industries, the end consumer and the DM may be the same person. For example, in the restaurant or hotel business.
Recommended articles on this topic:
Example of a cooperation proposal: just follow the instructions
B2B Marketing: Key Features, Promotion Channels
Marketing Department KPI: 11 indicators and calculation example
Stages of target audience segmentation
Let's look at the main stages:
Stage No. 1. Formation of a list of criteria
We need to decide on the categories by which we are going to divide the target audience. For companies with a wide range of products, this step is especially important. Analyze the resulting list of features and exclude those that do not allow you to combine buyers into one group. Select 2-3 main criteria from the list. The rest will be used for a detailed description of each segment.
Don't try to segment without a full understanding of the market. Marketing research, market surveys, interviews with company executives, and communication with sales managers will help you, as they interact directly with customers.