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Or the importance of finding your niche

Targeting the right audience on a budget

Part 2 of 5 of our talks to young entrepreneurs during START UP BRITAIN week. Speakers: Les Mear & Philip Slade

Backed by the Marketing Agencies Association (MAA) www.startupbritain.org

www.marketingagencies.org.uk www.fanclubcommunications.com

Images used for illustration purposes only, no rights claimed

What we are going to talk about

•  Who are your audience? •  How to find out who could be your audience •  How to calculate who best to market to •  The free tools available •  A check list for your brand

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•  Who are you marketing to? –  Customers –  Fans –  Potential staff –  Investors

•  How many of them are there? •  Where do they live? •  Who influences them?

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Find your niche But be nimble enough to find another one

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Your brand cannot appeal to everyone

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Pinterest: Watch and keep watching who is buying your brand

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The old model was to elaborately test behind closed doors using endless focus groups. Nothing exciting came from this process.

The new model is get your brand out and learn in a live environment. More exciting, bigger chance of failure. But a gazillion times more profitable audience profile

Target Simplify Focus

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Burbn.com

“…We had built a really neat mobile web app that let you check-in to locations, make plans, earn points for your actions, post pictures and much more…we had a lot to tell people about”

Kevin Systrom, Founder

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Users were really only using the photo element. The founders took a deep breath and changed direction to focus on a single feature

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•  $500K in funding •  Less than 10K beta users •  $50 Million+ Funding

•  Purchased by Facebook for $1 Billion •  37 Million+ users

READ MORE it’s a great story: http://articles.businessinsider.com/2012-04-10/tech/31316229_1_facebook-mafia-wars-quora http://joel.is/post/22436341176/achieving-overnight-success-kevin-systrom http://www.fastcompany.com/1830143/facebooks-flirtation-with-instagram-how-kevin-systrom-couldnt-refuse-mark-zuckerberg-twice http://ecorner.stanford.edu/author/kevin_systrom

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To repeat our question. Who are your audience and what do they want?

Who are they now

Who could they be?

And who don’t you want?

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Good news, Facebook knows who they are

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Linkedin is also your friend

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But Google is your bestest friend

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So you know how many there are and where they live, but what do they look like?

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An example

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Building a picture of the audience using observational language

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(Diageo  example)  

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Simplify, be brutal, who might buy

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(Diageo  example)  

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Take one chunk at a time Invest in those talking about buying* Target the might buys, play nice with the will buys.

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Fast facts: Not definitive but these are sources we use most days

Facebook.com/advertising

Linkedin.com/ads

Google/trends

Pewresearch.org

igd.com

Statistics.gov.uk

Socialmention.com

Wavemetrics.com

Twentyfeet.com

Infochimps.com

Thinkwithgoogle.com/mobileplanet

Marketingcharts.com

Infosthetics.com

http://gorumors.com/crunchies

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A check list for your brand

•  Build a picture of prime, secondary and tertiary audiences

•  Re-check brand offer against audience lifestyle traits

•  Measure, adapt, refocus

•  Keep watching

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Did we mention it never stops?

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THANK YOU that was a topline on targeting.

Part 2 in our 5 part Start Up Britain session 19 July 2012

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Speakers: Les Mear & Philip Slade

Backed by the Marketing Agencies Association (MAA) www.startupbritain.org

www.marketingagencies.org.uk www.fanclubcommunications.com