Segment, Target and Position all the way!
Reaching out to the right audience is the key factor in any successful marketing initiative. You may have a brilliant product but unless it reaches the right audience it is of no value. Marketing contrary to popular belief is not about being able to sell a refrigerator to an eskimo rather it is ensuring that the eskimo knows why choosing your brand of heating system is the ideal choice that will give him the best value for money deal. In fact those who subscribe by the former value system have their own version of marketing that is spelt a little different, read: ‘conning the customer’, but each to their own.
Getting back to the subject at hand ‘reaching out to the Right Audience’ is the key and the very fundamental principles of Segmentation, Targeting and Positioning popularly known as STP across the marketing fraternity are of immense value. Today with the dynamics of the industry changing marketers tend to ignore basic yet vital concepts, STP being an important one.
You may have a brilliant product at hand, but your customer needs to be aware of its existence. In this world of information overload, spreading the word across all communication channels to everyone is not a wise decision. You may believe that the more number of eyeballs caught would translate into an increased number of sales but extensive exposure through maximum modes of IMC (Integrated Marketing Communication) channels will dilute your impact.
Your customer won’t be able to notice you in the sea of information that she is drowning in, moreover she might simply choose to ignore you based on your constant annoying appearance across her timeline, newsfeed, television and on billboards.
Your audience is like a large chunk of a pie, ideally if you Segment them into pieces based on their needs. Target the pieces whose problems can be solved by using your product/ services and then Position yourself appropriately using the right IMC channels to those pieces of the pie that matter.
A brilliant service that I came across recently is the ‘Startup India’ portal launched by the Government of India, this scheme was announced by our Honourable Prime Minister Shri Narendra Modi in his Independence Day speech in the year 2015. The portal’s design and services offered will truly blow your mind; because unlike the pre-set image of any official initiative by the GOI, the portal is bright and inviting.
It is up to date with technology and the services provided are well planned. It also provides accountability of the scheme’s implementation and progress. Their social channels are informative and are updated regularly. It has all the ingredients for becoming the perfect service portal but the big question is how many people know about this? And how many of them are budding entrepreneurs who will be able to reap the benefits of the scheme?
If we look at the numbers, their website’s (http://startupindia.gov.in/) visitor count shows about 5.6 million or 56 lakh (56,85,945) visitors, they have 49,835 – Facebook likes, 206K followers on Twitter and 3K subscribers on YouTube.1
As per India’s Census 2011, Youth (15-24 years) in India constitutes one-fifth (19.1%) of India’s total population which means that out of our pie of 1.21 billion the slice that this initiative should definitely target is this specific 1/5th. 2
Most of whom can be reached through their handhelds on which this service has a very good presence. Educational institutes at higher education levels are a vital audience bank that can be tapped, the IMC channels utilized need not be too extensive or expensive they simply need to reach out to this chunk of the pie using the channels that are already running well and the much needed match will be made.
Hence, it is not enough to simply create the perfect product, it is also not necessary to spend in large volumes and target the masses at large; Segment – Target – Position and use your IMC channels in the proportion required!
All figures mentioned are accurate as per the time of writing this article.
Youth in India, 2017, Central Statistics Office Ministry of Statistics and Programme Implementation Government of India (Social Statistics Division) http://mospi.nic.in/sites/default/files/publication_reports/Youth_in_India-2017.pdf
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Ami Pandya2 Posts
Ami Pandya is an Associate Research Fellow at The Observer Research Foundation, Mumbai she is also a Founder Member at Marketing 360 °