Tag: Target Market

Target Market Behaviours During Loss, Uncertainty And Change Craig Johns Business Coach High Performance Leadership

Target Market Behaviours During Loss, Uncertainty And Change

Posted on by Craig Johns in Article
Photo by NordWood Themes on Unsplash

TARGET MARKET BEHAVIOURS

By Craig Johns

What are the stages of target market behaviours that people are currently going through as they come to terms with loss, uncertainty and change living in a remote world of COVID-19?

As a leader, CEO, entrepreneur or influencer you are trying to figure out how to firstly retain, but also recruit in the future, your valuable clients, members and suppliers. You first need to understand your target market behaviours and then you can understand the importance of your digital presence right now.

People will go through these 7 stages at varying speeds, so it’s important to be digitally present right now to capture their attention. Here is a brief outline:

Stage 1 – DENIAL

When COVID-19 first came to light, most people brushed it off, as a concern in their world, and continued on with normal daily behaviour

Stage 2 – SHOCK

When governments started to enforce restrictions, peoples jobs were uncertain, they were unsure if they would be able to put food on the table and stock markets started to take a dive, people took notice and the shock of it caused them to start seeking as much information on COVID-19 as possible. They became totally infatuated and engrossed in it.

Stage 3 – OVERWHELM

They become overwhelmed with the information and any word starting with “C” creates a stress reaction, so they start to withdraw from the intense exposure of COVID-19. Less time watching news, less time on social media and taking a break from digital technology. They start to withdraw inside themselves.

Stage 4 – REFLECTION

The sudden change, chaos, loss and uncertainty, causes them to go inside their thoughts as they reflect on what is really important to them, what are their values, what is their purpose in life, why am I doing what I am doing and is there a better way. They begin to think about how they can upskill and upgrade themselves as a person. What am I learning about myself, that I want to change? They start to think about what personal and professional development they require to be a better person, better parent, better leader and create a positive impact in their world and hopefully as a custodian on planet earth.

Stage 5 – RESET

They start to create a new way they want to live, a new way of thinking and a simpler way of life. New behaviours start to form, they want to become a better person or a better leader, and they start to dream about new health and fitness goals, but they realise they don’t have all the answers and they need help.

Stage 6 – BROWSING

Internet has now become their new best friend. They start browsing or window shopping so to speak. What are the solutions in the marketplace to solve my problem of creating a better way of living. How can I be healthier, how can I improve my personal performance and how can I achieve my goals. It won’t just be solutions they are looking for, it will be how do they get RESULTS to the problems they are seeking an answer for. They will only be able to find solutions from the people who have a digital presence and are visible in the digital community of the internet and social media.

Stage 7 – PURCHASING

Once they have browsed they will choose the option that can show how they get RESULTS and that they trust. They will make a decision based on the information they can easily get access to and is SIMPLE to understand. Some will be ready right now, so they are looking for solutions that can be done easily via the virtual world of internet, video conference and phone call, that they can do in their comfort of their own home.

My question to you is:

How are you creating your digital presence and most importantly message, to not only solve, but show how you can help current and future clients, members or suppliers get RESULTS, starting today?

Understanding your target market behaviours to thrive, not just survive in COVID-19.

Want to learn more:

NRG2Perform www.nrg2perform.com
Craig Johns www.craigjohnsspeaker.com
Craig Johns craig@nrg2perform.com
Craig Johns LinkedIn

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How To Be A High Performing Leader In 2020 Read Article
active CEO Lessons In 2019 Read Article
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Unleash the Niche

Posted on by Craig Johns in Article, Leadership

By Craig Johns

What can your members not do without?

No organisation can be everything to everyone, no matter how big or small. Being able to narrow the focus of your target market, known as creating a ‘niche’, is key to success. By understanding what your consumers can’t do without and servicing that requirement, you will be a step ahead of the competition.

What is your place in the industry?

Niches do not exist, but are created by identifying needs, wants and requirements that are limited in the marketplace, and can be satisfied by developing, delivering and implementing products, programs and services that satisfy them. Having a strong identity and a clear understanding of who you are to the consumers, is very important.

What is your market?

Knowing what market you providing for allows you to specifically tailor content and services that connect with your consumers. People like to have exclusivity and know they are receiving special service. They want to feel cared about and being able to specifically make a connection with them should be a priority. If you don’t know whom you want to do business with, you can’t make contact.

What makes it different?

Do you know why your market stands out from the rest and what are the behavioural characteristics of your consumers? Understanding what makes it different allows you to create a stronger brand and identity to ensure you recruit and retain your consumers effectively.

Steps to success

  1. Create a list of who you want to attract and work with.
  2. Focus on what products, programs and services you are going to provide, based on your skill-sets, achievements, lessons learnt and style.
  3. Determine how your consumers see, understand and interact with their world.
  4. Synthesize your niche through ensuring it fits your long-term vision, it is desirable to your consumers, it is carefully planned, it’s one of a kind and has evolutionary elements
  5. Look at whether you niche meets the criteria of all aspects in step four and evaluate its viability.
  6. The one step that is most often forgotten or misunderstood is testing the niche with the market.
  7. Unleash the niche, into the market place.

 The Pressure Test

Once you have effectively implemented your niche and established your identity it’s important to regularly check its relevance in the marketplace. By asking key questions, you will be able to do a temperature test on whether it’s still ‘hot property’ or not.

  • Are your target consumers who you thought they were?
  • Do you stand up to the pressure test with your consumers?
  • Is it constantly evolving and moving ahead of the competition?
  • Are you offering what the consumers really want?
  • Do you have a connection, passion and focused energy with regards your niche?

Be one step ahead!

Are you looking for more insights and ideas? Then read the following inspiring and thought-provoking articles by Craig Johns: