Tag Archive for: target market

Amazon’s Kindle Fire is a Smart Move

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Amazon’s new Kindle ‘Fire’ — is a brilliant marketing decision
Sure, the pricing is absurd.  Absurdly good.  For consumers.  Some believe Amazon’s losing money on every tablet they sell.  So the brilliance isn’t because of the extremely good price.

Kindle is playing on its strengths, not competing on its weaknesses
The tablet computer market is crowded.  Over-crowded.  So another tablet is not a smart idea.  Neither is creating an alternative to Apple’s iPad.  Kindle Fire makes neither mistake.

Kindle Fire is both unique AND beneficial
Kindle’s Fire is different and better than Android tablets that are both supported — and limited by — Google.  Amazon’s Kindle Fire is supported by Amazon’s version of Android and its own content — a far more extensive resource.  Also, Kindle is not seeking to woo a wide market like Apple is doing with the iPad.  Instead, Amazon is targeting its significant base of loyal Amazon customers who are seeking a convenient way to access Amazon’s content.

The Kindle Fire is also not as elegant as an iPad.  It doesn’t have to be.  it just has to provide access to Amazon’s extensive content.  Just as when Coca-Cola gave it’s vending machines away for free — because Coke™ made its money by refilling their machines. Brilliant!

KEY POINT:
“Never bring a knife to a gunfight” — Amazon is defining it’s own ‘Fire’ power and will likely be a winner because of it. 

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Moms Are Where The Money Is (DUH!)

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Is there value in targeting a ‘niche’ instead of ‘anyone and everyone’?

Well, if a 2008 college drop-out can start a firm that caters to ‘moms’ who want / need financial advice and last month raised $19 million to help it launch a round of new products, then . . . YES!  Yes, finding a niche seems like a damned good if not a great idea.

Started by Alexa von Tobel, LearnVest is an online site that caters to the unique needs of women to learn and practice financial principles for the good of their family and themselves.

Alexa’s choice of a well-defined, geographically-diverse and significantly-sized market segment is brilliant.  The fact that many companies and financial planners are not already targeting this rather significant group of household decision-makers is rather surprising!

Providing an easily accessed, women-centric version of financial education through a variety of highly interactive tutorials, checklists and other tools in a ‘cozy yet professional’ website seems to have been a smart way to differentiate LearnVest from the myriad groups of planners who all seem rather vanilla to most of us.

KEY POINT:
Finding a niche that needs what you offer and others aren’t = Ka-Ching!

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Strategy: MARKET NICHE / IDEAL CLIENT

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WHO . . . do you want to attract to you?
The people who can best understand, value, desire and afford the beneficial difference your Mission suggests, of course!

You want people who “see themselves” as part of any group that resonates with your Mission.  So consider defining your NICHE around any of the following:

Industry –– e.g. banking, financial services, healthcare, etc.
Function –– e.g. accounting, IT, sales, marketing, HR, finance, manufacturing, etc.
Situation –– e.g. relocating executives, turn-arounds, new start-ups, etc.
Problem –– e.g. employee skill deficiency, inadequate sales and revenues, etc.
Trend –– e.g. social media, online marketing, tele-commuting, distance learning, etc.

Your MISSION suggests your MARKET.  Your MARKET validates your MISSION.

KEY POINT:
Knowing WHY you’re valuable, suggests WHO cares and WHERE you’ll find them

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What’s Your Problem?

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Are you FRUSTRATED by your prospects?
Are people just not ‘getting’ how fortunate they are to work with you? Do you find yourself compelled to sell the value you offer . . . a little harder than you like?

Maybe you’re appealing to the WRONG people. David Sandler, founder of Sandler Training used to say, “There are no bad prospects.  Only bad salespeople“.  He was correct.

Marketing’s no different.  Your service is probably fine BUT . . . your targeting may be off.

You may be wondering, erroneously, “Is something wrong with my product or service?”. In fact, there may be nothing wrong at all.  Nothing, that is, except that you’re appealing to people who simply cannot understand, value and act upon the great value you’re offering.

KEY POINT:
If people aren’t appreciating what you do . . . change WHO you’re appealing to!

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