Researching Your Target MarketLean Startup Series #2

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About Me

Art Lee is a seasoned digital marketer with extensive experience in leading and managing technical projects across APAC and U.S. He has both extensive technology and business skills which are both required to effectively manage any digital marketing campaign and to ensure business objectives are met. The skills that are most valued by clients is his ability to listen and to create solutions.

Session #1 - Idea generationComing up with your own ideas

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Helping business owners to build their own businesses on a lean(er) budget

To educate business owners to make informed decisions (simple and effective)

Accommodate lowest common denominator - semi-seasoned business owners

Encourage audience participation

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Where to start

How to approach your target market research

Where to start your search

How to apply it to your product/service

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Multi-pronged Approach

BehavioralDemographicGeographicSocialgraphicPsychographic

Behavioral

Observing behaviors How are people using

Facebook

What conditions a person Normal reactions

How to reinforce a behavior Serving a specific

behaviorImage: danieleizans.com

Demographics

Statistical characteristics of a population.

age

income

education

employment

locationImage: blogs.oregonstate.edu

Geographic

Population, industries, etc., of a region or regions.

Image: userinterfaced.com

Psychographics

Study of personality, values, attitudes, interests, and lifestyles.

activity

opinion

attitudes

behavior

needs

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Sociographics

Integration of Demographics & Psychographics. Listen to the needs, values, and behavior of the influential.

personal needs

personal profile

personal attitudes

social graphs/friends

personal passions

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Not a Debate of Analysis

Demographics

Psychographics

Webographics

Relationship with the business

Specific Goals / Needs

Context of Usage

Interaction of Usage

Information of Usage

Emotional Goals of usage

Sensory / Immersive character of usage

Accessibility issues

Integrated Research & Analysis

Analyze

Website

Social Media, Mobile

Print, Advertising, TV

Feedback

Data Analysis Report

Customers

Competitors

Where you want to be (viability)

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High Value

Not Useful

Low Value

Very Useful

Caffé Habitu Promotion

A Society Slow to Change

Some Things Don’t Change

Case Study:Need more FB

Likes

All Likes do not equate to real conversion It expands total eyes from

extended networks

Likes from anywhere? The more the better

Worried about fake profiles? My boss just wants me to

get more likes than competitors

Exercise

iPhone (IOS) Samsung Galaxy (Android)

BehavioralDemographicGeographicSocial graphicPsychographic

How and where to researchDefining the Goals and Purpose of Your Campaign

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Look for Promoting Brand Advocacy

Product or Service Experiences

worth advocating, sharing

Discover Hit the Heart & Mind

AdityaKedia.com - Emersense

Identify Social Segments

Tools Locating Culture, Discovery, Real Time

Data, etc. People look for other people

like themselves, which is called group affinity.

Locate new Micro-Communities (offline/online)

Listen to customers & influencers

Using Facebook

Research Groups based on keywords

Ads based on profiles

Competitor ads

What is being shared

Engage in group

Using Twitter & Tools

Search hastags # (keyword: topic, industry, product)

Find people (influencers), Observe who follows

Observer news people engage with most

Using Linkedin

Keywords for people and groups

Engage with groups, share your idea

Find what motivates, what people want

Using Blogs

Track buzz, what’s going on

Comment on blogs

Share your idea

Use Discussion Boards/Forums

Track buzz, what’s going on

Comment on blogs

Share your idea

In-Person

Networking Events

Organizations

Coffee Meetings

Meet competitors

Meet industryrelated companies

Exercise 2

Phone Case Come up with phone case idea that serves a specific

customer based on your research. For example (30s, female, smartphone size, colors,

lifestyle, usage, etc.)

Digital Marketer

Many companies offer direct solutions (FB Marketing, list building, mobile apps, social media)

What people really needed was a strategy and justification of approach, that fits their budget

Serve underlying need to increase sales leads Part time and small sized businesses Growing businesses

Research Points

Understand what people want (can be unrelated to you), what they need (PAIN)

Understand what drives competitor businesses

Compare what you have to offer

Further define the characteristics of ideal client

Image: freemarketingmadeeasy.com

Good Luck!Come talk to me if you have any questions.

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