By Emily Rogers, Digital Account Executive
We all know the marketing buzzwords and phrases such as “target market,” “demographic” and “know your audience.” But when it comes to a marketing strategy, it’s easy to assume that you had your audience figured out a long time ago. In fact, businesses usually begin with a specific consumer in mind. That presumption could have you missing out on new customers and a boatload of leads.
A prime example I present to you is the Stanley Cup. And no, I’m not talking about the NHL championship trophy. By now, I’m sure you, or someone you know, with a TikTok account has brought the Stanley Cup to your attention. And even if you’re not an avid social media user, you may have noticed a new trend of water bottles and cups circulating at your office or out in public. The cup in question is named: “The Quencher H2.0 Flowstate Tumbler”, and it’s taken the internet by storm. The Quencher is consistently sold out or restocked, with a waiting list of over 110,000 people to be notified of when the product is available again.
At this point you may be asking yourself, “what’s the big deal about a cup?”
The company who creates them, Stanley 1913, has been around for nearly 110 years and is a well-known brand to some. That “some” is the key factor to Stanley’s newfound success. The Stanley brand specializes in camping gear and outdoor accessories, with the outdoor industry clearly serving as their target market. Selling rugged gear and sturdy products such as heavy-duty thermoses and drinkware made the audience marketing strategy obvious: the avid outdoorsperson and adventurous spirit.
In 2019, because of the focus on this niche target audience, “The Quencher” was newly released, sat on the shelves, and ended up underperforming and being pulled from their inventory. Fast forward to 2022, where Stanley is seeing a 275% increase in sales.
I know at this point, you’re asking yourself, how is that possible? And you guessed it, they refocused their target audience. They pivoted, and began marketing to moms, Gen Z, and online influencers to create this enormous success.
Now practically speaking, what does that mean for you and your business?
Here are 3 helpful tips to define your target audience and inspire new marketing strategy:
- Don’t be afraid to think outside the box.
If you feel as though your business and customer acquisition is at a standstill, don’t hesitate to bring your team together and brainstorm new ideas or even a brand-new target audience.
- Define your foundation of customers, and then add subsets.
Yes, of course you should target the customers you know and love, but don’t be quick to overlook a potential audience that’s not so obvious.
- Ask Questions.
Simply, ask yourself, your employees, and your customer base what they want. Start to build off the feedback you receive. Conduct research and build a voice for the customer you are trying to acquire.
The right target audience could be the difference between you and enormous success. What are you waiting for?