In part 1, we discussed how understanding the basics of marketing and why it’s important while planning your strategy in 2019.
In this part, I’ll talk about how you can target your audience further, how to focus on the smallest viable market, how to cultivate your own core group of fans, and how to use your network to build a bridge between your initial fan base and the general public.
Let’s start with narrowing your audience further. Start by dividing it into two groups: adopters, who are receptive to change, and adapters, who are resistant to it.
Adopters embrace new things. These people love the sensation of discovering something that’s more effective and innovative than what they’ve encountered before.
Adapters are shy for trying new things. These people relish the sense of security that comes with familiarity.
Understanding the difference between these two groups is crucial because the product you’re marketing represents a new thing for everyone who hasn’t bought it yet.
You’re much more likely to persuade adopters to try out your product than adapters. So forget about the adapters. Your product isn’t for them – not yet, anyway. Instead, make the adopters your initial target audience.
If there are enough of them, they’ll become the smallest viable market – the least number of people who can make your product profitable.
To find your smallest viable market, one of the effective approaches is to go out to the extremes that haven’t been overcrowded yet.
Once you have your smallest viable market ready, let’s learn how to build your own core group of fans and expand this market.
To convert your target audience into a community, speak to them in a way they understand with their shared view towards them.
The prospective members for your community already exist. They’re just waiting for you to connect them into a new community and lead them to your product.
A community is a group of people who affiliate with each other and share a similar worldview – the set of assumptions through which they view the world around them.
Therefore, the next step of effective marketing involves creating, connecting and leading communities by telling stories that resonate with its members’ worldviews.
Your community will help you network with its members and the network effects provide a powerful way to build a link between your initial fan base and the general public.
To cross this gap between your fans and the public, you will have to perform the final step of effective content marketing, which is, building a link that will allow your product/service to spread.
They key is to have a powerful product which becomes more valuable as more people use it. Meaning, as more people use your product/service, the more useful it becomes and these people share with their peers and in their network. This brings in more people and hence it becomes more useful.
Your network can help your product/service go mainstream, and your initial users can lead the way.
In today’s age, marketers can no longer rely on advertising alone. Instead, they have to take an approach to the market that identifies customers’ needs. Then use these needs to develop a product and use creative-storytelling to build an initial group of users which will build your smallest viable market. Using this group, grow your network to the public and spread the message about your product/service.