Know your Market!

How well do you really know your market?

The longer you operate in your market the better you should understand it. In this context, by market we are referring to the people and organisations that will purchase your products and services. Understanding it means being clear on the following;

The problem that you are solving for your customers. What it is that is so painful for them that they prefer to spend money with you to solve it than to continue to put up with the pain.

The emotional connection that your customers have with your brand. These are the (often intangible) aspects of your story that make your customers 'feel' good about what you are offering.

Where they are and how to get to them. Whether they are located in one or more accessible geographical regions. The method by which you can make them aware of your existence and then move them from there to imagining themselves enjoying using your solution to their problem

Who the players are in this market that will impact how the ‘story’ turns out for you. Other suppliers, competitors and potential partners.

The rules that tend to govern how the market works

It is never a bad time to re-examine your market knowledge. Whether you are preparing a new addition to your line-up or you are still within the first few years of your first release, you need to have this stuff figured out and have it figured out well.

Defining and targeting your markets is something we are very good at. We have firsthand knowledge about many of New Zealand’s major offshore markets including Australia, the UK, USA and parts of Europe. But far more importantly, over the last 10 years we have helped nearly a hundred organisations get really clear and focused on their target markets, how to approach them and what to approach them with in order to make the sales they needed to.

Using desktop or in-market research, a technique we call market mapping, networks and your own understanding we can quickly develop the accurate picture you need. This forms an essential platform for your strategy, your product direction and your decisions about your business model and your chosen infrastructure.

It usually starts with a coffee. To get a better understanding of what we can do and some good ideas for your market approach, get in touch and we can arrange a get together over coffee at no charge.