I can’t stop myself from seeing the magic of focusing on only one small segment of the market.
Today I was working on one offering after my team had yesterday isolated 3 possible segments based on data. Based on data I was to work on identifying the right niche for this product.
I have mentioned multiple times earlier and would like to recommend the podcast at Morecheeselesswhiskers.com. By far its one place where you will see how Dean Jackson goes about analyzing single target markets.
Coming back to my experience today. I first eliminated 2 of the markets because there was nothing to create a common strategy.
Then I came to what we club – as BFSI – Banking, Finance, Securities and Insurance. As I stated thinking about the geographic differences that can come into these customers. So I decided to stick to just North India.
As I started to think of the conversation going on in the minds of my audience I realized that I was thinking of the marketing heads, the CTO, the CIO. All 3 would have different things which keep them up at night.
While these differences not enough , I realized that even the marketing head of an insurance company would have different concerns than the marketing head of a securities company.
So now we had brought down our single target market to just the marketing head ds of insurance companies in North India. However I still have a nagging feeling that I may need to splice this further. But we will leave that for another day.
Till next time then.