In this week’s podcast, we touched on the importance of knowing your markets. Looking back in our archive, I realised that we have never really done a post on the subject. Something I thought that needed addressing. So here goes.
One Market Many Segments
It’s a well known marketing fact that to be successful you need to know and understand your markets. But your markets are rarely simple. It is likely that you will be supplying multiple groups, each with different needs.
When looking at categorising or segmenting your markets. There are two key questions to ask:
- What benefits does the target of the communication gain from my product or service
- What message style will best engage with the group
For any group of customers, if the answers to these two questions match, then they will probably fall into the same segment.
At this point, I think an example is in order.
Segmentation and Slõ Drinks
One of our clients – Slõ Drinks, uses segmentation very effectively. Slõ supply a drink additive, that allows people living with Dysphagia (Difficulty swallowing) to make their preferred drinks safer to swallow.
If you would like to hear more about them, Check out this weeks podcast where we talk Marketing with Slõ Drinks MD Mathew Done.
Broadly, Slõ split their marketing into 2 segments:
- Health Professionals
- End Users
Whilst the core message is the same for both groups “Slõ Drinks make drinks safer to drink for those with dysphagia” The way this is communicated needs to be subtly different for the two groups as the benefits they see are slightly different.
Segmenting your messaging
Understanding that you are supplying multiple markets naturally leads into the idea that your message needs to be segmented too. In Slõ Drink’s case, the messaging looks different for each of the two groups, each message focusiing on the needs of the recipient, and how Slõ Drinks can deliver benefit.
Health Professionals: Slõ drinks provide a fantastic cost effective solution for your patients, which is soundly backed up by scientific testing. So you know if you recommend Slõ Drinks, it is a good decision both clinically and financially.
End Users: Slõ Drinks offers a safe and tested way to make living with dysphagia less intrusive. With Slõ Drinks, you can get on with enjoying life knowing that you are managing your dysphagia.
For both the core message “We make drinks safer to drink for those with dysphagia” is consistent. It’s just the angle that is shifted to match the perceived priorities of each group.
All part of the same story
When looking at this subject, its easy to end up with a highly fragmented approach to marketing. To avoid this, the objective is to be consistent in the central messaging, but then tailor this communication to the needs of individual groups. This is the key to successful segmentation.
As we discuss in the podcast, at its core marketing needs to be consistent. But it also needs to be highly relevant to those reading the message, especially given how much we can know about our customers (but that’s a whole other post). The key to achieving this is market segmentation.
Getting your messaging right for each of the segments you are targeting is key. If you would like to talk to the experts about how best to do this, we would love to talk to you.