The science, technology and engineering sectors provide very specific services and therefore have very specific target markets. Clearly identifying those who will be benefit from your products or services helps with crafting the perfect message to attract them.
Identifying your target market requires specific information about your business, your product and your potential clients.
- What are you trying to achieve in your business?
This is in relation to a specific campaign or product, your business goals and how the campaign fits into the long-term vision. Identifying the campaign’s objective helps with targeting the right messages at the right people.
- Who are you trying to attract with this campaign?
Do you want to attract more clients, high calibre staff or investment? If all three you will need three different campaigns with three different messages, as what attracts a client, isn’t going to interest an investor. A common mistake is to target ‘companies’/’organisations’ rather than people within those companies.
- What do these clients need?
Once you know who you are trying to attract, you should create an avatar or profile of them – identifying their needs, their problems, and the type of person they are, relevant to your campaign. Going down the route of working out what this person usually has for breakfast is probably only useful if selling breakfast cereal.
- Who is your competition?
By researching your competitors and their services you are better placed to identify your unique selling points and what sets you apart from them. Be aware but don’t be a slave to competition however, pave your own way.
A changing market
If 2020 is teaching us anything, it is that the science, technology and engineering marketplace is constantly changing. Therefore, what may have worked to attract customers and investment in the past may not be successful in this current volatile climate.
Therefore, it is important that your market strategy is agile and can be adapted in line with your customers’ needs. As customers are the cornerstone of every business truly understanding who they are and what they need can help you reach them more effectively.
If you would like help identifying your ideal market and gaining clarity on the profile of your ideal client, partner or investor contact Priddey Marketing.