Why target market insights are crucial (before spending money on marketing)

Like in life, marketing can be super easy or complicated, depending on how much detail you go into. They say the devil is in the details, and in marketing, that devil lies in insights gathered before actual marketing. There are certain questions your marketing team should understand about your Ideal Customer Profile (ICP) before crafting actual messages, visuals, and ads. So let’s go them over.

What are the top pains your Ideal Customer Profile faces?

If you are in a business, you most likely solve someone’s problems. Your marketing team should know what those problems are and understand the frustrations associated with them.

How do you know them? Well, the best way would be to ask. While assumptions and logical hypotheses can provide a foundation, the best and often surprising results – if there’s a budget and time – come from asking directly from your paying customers. Pay close attention to the vocabulary they use when describing your product or service and its benefits. There is a chance that more of your targeted ICPs use the same lingo.

So first, you need to know what causes your ICPs to seek solutions like yours. 

Why solving these problems is transformative?

What’s at stake if your ICP doesn’t find a solution to their challenges? In other words, how big is the problem, and what happens if it stays unsolved? Understanding these factors helps everyone in marketing (messaging, visuals, strategy) to illustrate the journey from the current state to the desired destination. A common yet ineffective approach is to position your products or services as suitable for everyone, which they typically are not. Instead, focus on your Ideal Customer Profile and highlight how your solution can be transformative to them.

Which information channels does your ICP trust to look for solutions like yours?

Sure, your marketing team is experienced in specific channels – social, paid ads, print, outdoor media, etc. But are those the channels your ICP is using for their research? If you ask them, you may discover untapped potential in channels you haven’t used or focused on. On the other hand, if your ICP lacks trust in advertisements on social media, what is the point of spending your marketing budget on those channels?

What is their understanding of the market and competitors?

Most likely, there are some household names in your field. Often, those are the ones your ICPs know and trust already. What would make them consider alternatives? Yes, price or cost would always be at the top, but maybe there are other aspects you can take advantage of. It could include delivery speed, personalized assistance, or additional services that enhance the customer experience. Use those aspects in marketing to differentiate yours from others.

What do their buying processes look like?

Who tends to hold the budget, and what steps do they take to purchase? Knowing that helps your marketing to communicate with the actual decision-makers. Particularly in B2B contexts, the beneficiaries of yout products or services may differ from the ones who hold the budget. It’s not rare that messaging and marketing communications focus on benefits to the user, not the buyer. Knowing the difference would be crucial for conversions.

Investing a fraction of your marketing budget in gaining insights into your target market will make the other 99% go much further. If you need help with that, feel free to get in touch.

Further reading