Understanding the 'who'
Your success lies in how well you know, treat, and manage your customers. Ultimately, your paycheck comes from them.
One of the biggest traps in marketing is that marketers think that they can sell to everyone. They see companies like Apple, Nike, and Coca-Cola that target the mass market and achieve huge success, and they assume that this is the only way to build a successful business.
And they want to get the whole slice of that juicy, crave-worthy, and mouth-watering pizza.
However, what they fail to realize is that these companies have spent decades and billions of dollars building brand recognition and a loyal customer base.
So targeting the mass market may not be the most effective strategy for a new or niche business.
The truth is:
You don’t have enough time
You don’t have enough money
But these “limitations” are actually advantageous for your company.
Having a lack of resources is actually a good thing
A popular saying goes something like, “Cherish what you have, not what you don’t”, which is extremely applicable to such a context.
Instead of focusing on the limitations, what the companies should do is:
Be specific (psychographically) — to understand who the product is for, the motivations behind a purchase, their pain points, their desires, etc.
Pick a ‘who’, a problem they want to solve, whether they have the means to solve it, and whether you’re able to keep your promise
Practical tips to understand your customer better
'Crawl' inside your customers' heads and understand from their point of view (Eavesdropping, looking at reviews, comments, etc.)
Conduct surveys (e.g. SurveyMonkey, Google Forms)
Conduct focus groups, interviews, or any forms of interactions online and offline
Know where they usually reside
From a philosophical standpoint, Aristotle would put it, “Knowing yourself is the beginning of all wisdom.” Lao Tzu would add, “Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power.”
As a marketer, we need to understand the ins and outs of the product before even “pitching” to our customers.
Having a thorough understanding of the product allows us to tailor our approach and messaging to effectively communicate its value to our target audience.
But at the end of the day, knowing the ‘who’ — whether it is yourself or your customers, is a truly valuable skill and the beginning of all wisdom.
Till next time,
Alvis