Whether you are an ethical brand or not, the challenge of correctly identifying your marketable audience is paramount to business success. When your product is sustainable, green or ethical the task can be more challenging still. This is because quite often you are not simply looking for a life stage driven cohort. It isn’t enough for instance to simply pin your hopes on the much talked about Millennial market or hope that the Baby Boomers are travelling in the same conscious direction as you. Instead you are looking for a mind-set, an attitude that has perhaps formed over time, maybe grounded in personal experience, or which has been born out of a deep sense and awareness of right and wrong.
Of course this attitudinal approach has to be combined with the correct identification of your target market from a psychographic point of view; the basics of marketing segmentation should never be ignored. However, you may conclude that this is tricky stuff to achieve, and you would be right.
However, there is a solution that makes this all much more achievable which at Good Karma Media we call Audience Discovery. To assist with this process we have developed a friendly analytical framework for the ethical market called Karma People which allows us to lift the bonnet on the market and to understand what drives the attitudinal facets of conscious consumerism. (Built, we should add, with the help of useful sector research by KPMG and Deloitte.)
Our recommended approach is linear so it is simple to implement and efficient at achieving its end goal of identifying your best actionable prospect audience.
At the outset we work with you to map your current and target audience onto our Karma People framework. This helps us all understand how well your current targeting is performing, to validate your market size and to test the dynamics of existing marketing propositions. This can work particularly well when considering the performance of attitudinal triggers.
The next stage is pure #datascience. We take your existing customer data, or if this is unavailable a pseudo random sample of your ideal customers, and build a probabilistic model to identify a target audience that is most likely to be similar. This model is built on deep socio-demographic data using dozens of data points to ensure that it is replicable across the market as a whole. This results in each adult individual in the entire UK being statistically scored for their potential to become a customer of your brand. This then allows us to intelligently select potential target segments by overlaying any further differentiating filters that are specific to the testing process that we agree will give us the best measure of performance for our chosen channel activities.
As a valuable outcome of Audience Discovery you will benefit from detailed profiles of your customer segments which can be used in conjunction with Karma People to optimise your marketing messaging. By combining socio-demographic and lifestyle data with the attitudinal insight of Karma People we add precision to your marketing that could involve extensive personalisation at an individual level, although in a practical budgetary sense we will inevitably target segments with strong similarities.
The underlying data that we use in the Audience Discovery process has multi-channel options available, as it has been built and verified across multiple data sources. This means that a variety of contact channels can be tested and rolled out through our normal test and learn processes. It also facilitates integrated campaigns across offline and digital channels ensuring that we can connect with your prospects wherever they may be.
Speak to the team at Good Karma Media (www.goodkarmamedia.co.uk) about how our approach can help you accelerate your brand success.
Call us now on 01737 448018 or email Jo or Dave@goodkarmamedia.co.uk