“Does one size fit all?” was my first post about Audience and the increasing importance of understanding it before setting strategies and defining approaches. Although Audience is more than ever a key aspect on marketing, there are also two other aspects that should be deeply analysed before going on designing and implementing new plans and strategies, value proposition and vision. If a company wants to be a market leader it needs to be able to deal with three different dimensions: inside (value proposition), outside (audience) and vision vs. trends (time evolution).
What does each part of the “triangle” mean?
- Audience: people to whom products or services are addressed, in a strict sense using an old definition it means targeted segments although, in my opinion the internet and world wide web brought dynamism to the definition making it more flexible and broad by including in it the social networks and online communities.
- Value proposition: the value that the company propose to their customers and audience, what is inside their products and that can be of value to these people. It should also be strictly connected to the “why” the company does what it does. Vision vs.
- Trends: this relationship should be managed at the highest level in the company producing a business strategy that being loyal to the company’s vision incorporates also new trends happening in the world, like technological enhancements and innovatory products, or new consuming patterns and behaviours.
How does the “triangle” work?
We have entered an era of radical change for Marketers, part say that traditional marketing is dead and part keep stubbornly using the old same ingredients and recipes. I believe in mixed solution where traditional and new marketing techniques are used together giving bird to new recipes and where ingredients are chosen accordingly to audience, customer value proposition and vision vs. trends. The triangle will be used as a starting point to decide what kind of techniques and channels will be used.
Why marketers need to manage the triangle?
The 21st century brought new technologies and innovations that changed the way people live, behave and interact, affecting the way business is done. Everything is today faster than ever. Individuals interact with individuals to improve products, technologies or processes, not needing companies for that changing the way business is done today. My post Are we all amateurs, aren’t we? clearly shows that people within communities interact and help without being directly connected to companies. This phenomenon makes audience and value proposition more important than ever. Therefore, Marketers’ big challenge is to be able to “perfectly” understand their audiences (the way people behave, interact and share), translate that into a value proposition that makes sense that is also aligned with the company’s business strategy (mission vs. trends).