With more upcoming trends within markets and industries that reform to a higher concentration within markets, it is difficult to grow a dedicated consumer base. Marketing has developed many theories that we can use to grow such a consumer base, however, depending on the industry you operate we can always come back to simple ideas and innovations in order to overcome the competitors.
It is imperative to remember that it is not only about applying marketing knowledge or knowledge within the industry to become more innovative but also, doing intensive research on the market and especially on your consumers.
1. Research the demographics of aimed consumers
Get to know your consumers!!!
If you want to grow your consumer base then the first step is to get a better understanding of whom you are selling to in order not only to have the knowledge to attract them but also to retain them as customers for future business.
From the research that you make in various ways, you need to build the perfect consumer and try to develop the product/service based on the perfect consumer model which is the consumer that is most likely to purchase and use the product/service.
From the marketing research that you conduct you can also find specific characteristics that your consumer within the consumer base might have that are linked to the product/service you sell.
For example, let’s say that you are selling a chocolate bar that offers more protein than what the competitors provide on the market. At the same time, we have a consumer that is interested in a chocolate bar and a strong character that is present is being a sportsperson or more athletic therefore he or she would be interested in a chocolate bar that has more protein to power him or her based on their lifestyle.
Marketing research is vital because you need small but, important points about the demographic such as attributes or things they like in order to attract them.
2. Create a marketing campaign based on the perfect consumer model
Work towards the majority and not the minority!!!
Once the perfect consumer model from demographics has been found you must create a marketing campaign that will attract as many of the consumers within the market as possible. At the same time, you are using the perfect consumer model to ensure that you attract a reasonable amount of consumers from the market.
If we use the example mentioned above we need to take into consideration that this type of demographic depends on the product you provide as they need those proteins to either get through their daily activities or even workout.
Therefore we need to create a marketing campaign that is based mainly on the demographic we want to attract but at the same time (in the bigger picture) the marketing campaign needs to have a potential to attract the rest of the consumers within the market, even if the product may not be so suitable to them.
Continuing with the example mentioned above, we want a package that is really showing the core of the product (which is having more protein) that will help the consumer differentiate your product from other products provided by the competitors.
The marketing campaign has to be once again focused on the core of the product however, we want to create a marketing campaign that will not only attract our demographic but attract customers from the competitor's consumer base.
By using this strategy we are hitting 2 birds with one stone because we are growing our consumer base and also decreasing the consumer base of competitors therefore slowly removing the competitor from the scene (market).
3. Work on attracting the rest of the market
Accessibility through Flexibility!!!
Once you have a strong consumer base built you need to work at attracting the rest of the market through the reputation of the firm and credibility offered by the market. In order to gain true success within a market, you can never stop innovating your business model in order to maintain constant growth. Not only that but also working towards having an empirical consumer base growth.
The product or service that you offer needs to be flexible by offering different variants of the same chocolate bar (product) to attract the rest of the consumers within the market. Let’s say that you add a variant with less sugar or calories for those that are on a diet but at the same time try to retain the high protein amount in order to attract more consumers within the market.
4. Retain the attracted consumers
Growth comes with its own responsibilities!!!
Well done for reaching a constant consumer base growth for now. Do not think that the competition will just sit there whilst you absorb the success achieved within the market, the hard work just begins. There are so many marketers that do not focus on retaining their consumers and then wonder why they are failing.
With the massive amount of trends as well as changes within consumer behavior it is more difficult than ever to retain consumers.
The process of retaining consumers is starting the same way as gaining them which means more marketing research however this time the research has to be based more on the behavior of the consumers. Understanding the exact demand of your consumer base and the improvements they wish to see from your products, this requires very strong communication with the consumer base that can be done easily through social media.
I hope that these 4 steps will help you grow your consumer base within the market that you operate. Do not underestimate this simple strategy because if applied right it can be of great success.