Are you leaving money on the table
by not taking advantage of target audiences in secondary markets?
Have you ever thought that your products might have benefits for target audiences you never even dreamed of? Testing these target markets is always a good idea.
For example, say you’ve designed a product for bodybuilders and extreme athletes.
It’s a great target market. They’ll pay good money for proven enhancement products. Their motto is “tear it down and build it up, push to the extreme.”
The recovery drink you’ve created comes with the following features:
* cellular membrane recovery
* mitochondrial generation and efficiency
* cortisol reduction
The benefits for the bodybuilder are that he/she can train harder, recover quickly, grow muscle, and reduce fat. He/she can also have a show-ready body and still feel great!
But what happens when someone who is not part of your target market discovers it?
My best friend Lisa, is an example of someone who is not in the target market for bodybuilders. However, she has two sons that are. These guys are your target market.
Now, Lisa is always in the kitchen with various bodybuilding products like yours lying around on the counters, in the drawers, everywhere. Much to her sons’ chagrin (this is pricey stuff), she uses them as healthy snacks whenever she feels like it. She doesn’t care.
And one day a supplement that your company created called “Extreme Exercise Recovery Drink” surprises her. She tried it, and it did her a world of good.
Now she not only uses this product daily but she’s also hitting the the bodybuilding gym regularly.
So what’s she really doing at the gym? Lisa is indulging in what’s called off-label shopping and she’s stocking up on your product.
Lisa’s not your target market but maybe she should be.
Her burning aches have disappeared. She actually slept the whole night through. And the next day started with energy she hadn’t had in years.
Lisa was experiencing “secondary market benefits.” The product was still doing the very same thing biologically that it did for bodybuilders, but she was experiencing the product differently.
Proteins, combined with delivery agents were feeding her starved muscles. Her mitochondria were given the nutrients now that they needed to supply more energy.
She was finally able to access her fat for energy and her blood sugar levels began to stabilize. Adaptogenic herbs began to retrain her body and brain to withstand the stresses of middle age.
But Lisa didn’t see any of this on the label. They were just features – some mumbo jumbo on the drink bottle that she skipped over.
All she cared about was that she felt great and wanted more of that drink!
Later Lisa was on the phone, speed dialing all her friends, bragging about how she just experienced the best sleep she’d had in years. “Shhh! Don’t tell anyone about this, but…” She spread the news like wildfire.
You, the manufacturer, got lucky just then. Lisa started an off-label viral marketing campaign for your product.
It’s great when it happens. But listen, why leave it to chance?
Once your main product’s promotion is off the ground, you should take advantage of your other research. This research may have showed you information initially that just didn’t quite fit your target market so you didn’t pursue it.
But maybe you should have.
In Lisa’s case – a middle-aged woman not into bodybuilding – when she used your product, her cortisol levels dropped so she could now sleep better. This of course didn’t really matter much to young, fit bodybuilders. Her sugar levels also stabilized and again, not a big deal to bodybuilders, either.
But these are benefits an entire target market that you didn’t think of are experiencing from using your product.
It happens all the time, with a wide variety of product lines. Someone tells a person about a product and it works for their chronic problem. But no one’s aware of it because it’s never been marketed to that audience for that problem. Nothing on the label mentions the relief this person experienced.
The truth is, these consumers are buying the unknown and secondary benefits of your product.
And like Lisa, many times they create a off-label viral marketing campaign. While this is awesome, you don’t want to don’t want to have to depend on this kind of organic marketing – it may or may not occur.
You should squeeze every dollar out of your product by taking the bull by the horns and making these campaigns happen yourself. How?
The key is you MUST discover the secondary market benefits your product. Here’s how.
1.) First of all, take a hard look at your product’s features and benefits.
Analyze and maybe even list them out on paper. Even look at your product’s failings. (Products such as Post-it® Notes and Viagra, are famous examples of successful re-marketing of failures.)
2.) Ask yourself,” What does this product do?”
Focus on the mechanism. You’ve saw this in the sports drink example.
3.) Now ask, “Who else has a problem this will fix?
Build a test campaign focusing on this secondary market. If that’s successful, you can build out a whole new product line just by tweaking your current products. This could mean a separate label or perhaps you could even do what Mane ‘n Tail did and co-market your products.
With Mane ‘n Tail, this is the exact same shampoo, but on their website they have two entry points. They have one for people and one for equines.
Here are the features the company published:
The shampoo formula contains high lathering and ultra-cleansing agents that are fortified with moisturizers and emollients to help leave hair soft and ultra clean. Followed by a conditioner that helps nourish and aid healthy hair growth, leaving hair looking lustrous and silky. These micro-enriched protein formulas help to prevent hair breakage and repair split ends, achieving the goal of longer, stronger, fuller hair…http://manentail.com/about/
Their marketing actually relies on testimonials and a little help from the Budweiser Clydesdales.
Mane ‘n Tail as you can see above, has done a masterful job at co-marketing and targeting a secondary audience previously not thought of.
One product + two markets = MORE SALES. This is key.
To sum up, if you’re confused about benefits vs. features, and want to maximize your sales on a particular product, think about all the target markets it could be used in.
Don’t leave money on the table by not taking advantage of secondary market benefits. Test your product’s secondary benefits in a side campaign to different target audiences. It will add sales and open up opportunities for future products. Artemis Digital is here to do that for you.
As professional marketers this is what we do. We’ll work with your marketing data and do the all the heavy lifting for you. Then we’ll also dig out all the benefits of your products, highlight them in your sales pages, and promote them to all your target audiences.
Contact us today at 615-336-2286.