Everybody Loves...Something They

Can Relate To

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.

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

© 2005 Rosemary Walter, all rights reserved. You are free to use material from Mosaic's Monthly Marketing Tips in whole or in part, as long as you include complete attribution, including a live website link. Please also notify me where the material will appear. The attribution should read:

"By Rosemary Walter of Mosaic Marketing Management, Inc. Please visit Rosemary's web site at http://www.MosaicMM.com for additional marketing articles and resources on marketing for business to business companies."