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Watching
the pre-show to the finale of Everybody Loves Raymond earlier this
month, one concept kept coming up when actors or directors were
asked why the sitcom had been so successful over the years.
The
concept was the show's ability to RELATE to their audience. Loosely
quoted, those in charge said things like "We make sure that
the situations we present are situations that the audience will
believe could happen in real life and will find humor in."
If
you have tuned into the show over the years my guess is that you
would agree with their formula for success.
Isn't
That What Marketing Really Does?
As
I listened, I realized this was a great newsletter topic because
"relating to one's customer target group or audience"
is really the crux of the discipline of marketing.
Marketing
must first define its target market (or audience) and then figure
out what that audience can relate to in terms of the infamous 4
P's - product, price, place, and promotion. Those 4 P's are the
tools that marketers use in the same way sitcom producers use sets,
situations, dialogue, and actors.
The
companies that understand their audience and relate to it the best
are the ones that will win market share, sales, and profits.
How
Well Are YOU Relating to Your Audience?
Answer
these questions to gauge how well you are relating your audience.
Do you really KNOW the answers?
Product
Are
your products meeting the needs of end users better than those of
your competitors?
Are
new needs, desires, applications, or materials emerging that make
your products less valuable versus competitive offerings?
Price
Is
your price to both the channel and end users acceptable and reflect
the value you provide?
Are
after-sales service, warrantees, and other "extras" included
in your price or is there an additional fee? What does competition
do? How are end users reacting to this?
Place
Are
your current and potential customers still shopping where your products
are being sold or do they prefer different outlets?
Are
your channel partners helping to relate your products to potential
cusotmers or are they only promoting your competitors?
Promotion
Does
your positioning and selling message resonate with your target market/audience?
Are
you delivering your story through media that they receive and are
attuned to?
How
Can You Be Sure You Are Relating to Your Audience?
See
below for a few suggestions and recent case studies.
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WANT
TO LEARN HOW TO RELATE TO YOUR CUSTOMERS THROUGH EFFECTIVE
MARKET COMMUNICATION?
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Rosemary
Walter is featured alongside marketing greats Jay Conrad
Levinson, Robert Bly and many others.
Her
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Ways
to Tell If You're "Relating"
Obviously,watching
internal sales and profit trends
is the most immediate and tangible way to see how well you are relating
to your target market. But to view only internal numbers is to miss
the larger perspective and, perhaps, a different conclusion.
What
if the market is expanding at 20% and you're only showing a 5% sales
increase? You may be reaching your annual plan goals, but you are
certainly NOT in touch with your market.
Field
visits
with key and potential customers is another valuable tactic. I am
currently involved with this kind of effort with one of my clients
and many great insights are coming to light. These insights that
will put my client in good stead for future market success.
Formal
market research is
another great method. This includes:
-
phone surveys
- focus
groups
-
internet
- mail
surveys
Mosaic
has recently completed formal market research for another client.
The results show how a larger group of potential customers can be
segmented into smaller groups that have more consistent needs that
the client's products can relate to. Again, great information to
act on to ensure continued sales and growth into the future!
Need
help with building a marketing mix that everybody in your target
audience loves? Give me a call, let's chat!
Remember,
Mosaic creates customers for business-to-business companies through
specific project work, on-going retainer assignments or marketing
coaching sessions.
Until
next time.....
Rosemary
Walter
847-483-5018
Rose1Walter@MosaicMM.com

Quote
of the Month
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"We
don't want to push our ideas on to customers, we simply want
to make what they want."
Laura
Ashley
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