[KSF] Complete Understanding of Target Audience

April 27, 2017 / By Bruce McDuffee

A 5 part series about key success factors for a manufacturing marketing team

The manufacturing marketing team is under duress. We are inundated with information about marketing automation, content marketing, SEO, SEM, cloud connectors, digital body language, sales and marketing alignment, revenue performance management, ad nauseum. The only way the manufacturing marketer (at any level) can survive is to understand the fundamentals as the foundation for all else.

One way to view the fundamentals is to apply key success factors (KSF) to your marketing department as a way to measure your effectiveness. I suggest 5 KSFs in a series of blog posts:

Number 1:    The Manufacturing Marketer must understand the needs, wants and desires of the target market or target audience. You must know the market and understand how your offering satisfies the requirements of the people in the market. Without thorough knowledge of your market, it isn't possible to even begin to strategize and execute to drive demand?

Many a marketer suspects they know the market because of their vast industry experience or because of what their sales team tells them about the customers. If you're in a company operating on this type of conjecture, challenge those assumptions. The assumptions may be correct or they may be incorrect, but tacit market knowledge must be challenged from time-to-time with fresh market research. Some manufacturing firms conduct an annual customer satisfaction survey and consider this as representative of the market. I disagree because customers are inherently biased and their opinions are not necessarily representative of the overall target market. Customers have, after all, already chosen your firm so therefore, they are naturally satisfied in most cases.

Do the research! This is the only way you will understand the market and where your offering fits. Marketers are the 'voice of the customer' to the CEO, R&D, service, operations, and sales.

Stay tuned for KSF Number 2; Manufacturing Marketers must Understand the Capabilities of their Firm.

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