For a market strategy to be effective and complete, you must answer the questions of
Who – your consumers are,
What – they would like to read or watch.
How – they consume your content,
Here’s a list that should help you form an effective market strategy. Read on!
- Identification of the Primary User
Identifying who your users are goes a long way in planning your strategy.
As a business, building a buyer persona will help you identify and understand your users. Buyer personas outline your customer’s age, educational background, occupation, consumption patterns of news and information and such other information.
Using all these characteristics, build a fictitious character. This will help you segment your market, and tailor your content appropriately.
Age group: 25-35
Interests: Motoring, Cookery
Age group: 35-45
Interests: Trekking, Literature, Arts
2. Identifying the needs of your Primary User
Great! Now that you know who your users are, the next step is to personalize your content based on their needs and interests.
Based on the buyer personas, Jim loves biking.
If your website talks about the latest launches in the motoring space – cars and bikes, Jim would be thrilled! Your content should be tailor-made to attract a typical 25-35-year-old biking enthusiast.
Likewise, Tracy would love to read an article on the best trekking destinations over the weekend.
Personalizing content increases the chances of users being regular visitors to your website.
- Winning your consumer against your competitors
To stand out from the crowd, you have to go the extra mile. Based on the buyer’s preferences and searches, you can provide and modify your content, to score above competitors.
A typical biker, for instance, may look for new bikes in the market, destinations, or a place to interact with other enthusiasts. Alter your content to meet the user’s needs.
Over time, Jim would trust your website as a go-to source for all his biking and motoring needs.
Congratulations! You now have a regular visitor in Jim.
- Adapting to changes in the market
Over time, customers are changing the way they consume information. As per a Google India report, YouTube has reported over 60 per cent views coming from mobile. This is a big shift from the desktop days.
As a publisher, you must keep pace with the latest means of consuming content and alter how you deliver content.
Reaching your audience will then be a piece-of-cake.
For a market strategy to be effective, it has to start with the customer and identifying their needs to address them better. Lastly, one must keep pace with the latest trends in technology and consumption patterns (of information), to stay ahead.