Article

Creating New Products for Existing Audiences

The world is constantly changing, and businesses must change to keep up with it. Look at the way millennials have changed what we know about marketing and sales. In order to stay competitive, businesses and entrepreneurs have to consider the challenges of the evolving landscape, including the demographics of their business and what new and old customers alike want. Here are some steps you can take to determine what moves your business should make to create new products for existing customers and bring in potential new customers.

 

Create Robust Personas

Each landing page, article, and blog post you make should align with a distinct persona to connect to the target audience. Parents, college students, and CEOs all require a different message to encourage a response.

An obvious – yet overlooked – tactic for gaining a better understanding of customers is to just ask them. Surveys are good, but a personalized one-on-one interview would be better, even if you can only manage to do a few of them. Offer small incentives to get people interested, and ask them questions to learn more about them and what they need and want from your products.

 

Learn More from CRM Data

If you have a data collection process that includes lots of questions, then you can learn things like company size and type, contact information, and preferred content from your CRM data. The sales team should be able to translate that information and use it to create a better understanding of customers. You’ll start to find trends you can use to create a general overview of customers and create their personas. Evaluating information could lead to you discovering a surprising audience for your product.

 

Showcase How Your Brand Can Deliver What People Need

Proving that your product is relevant to a different demographic doesn’t mean that it won’t still be valuable to your current customers. It just means you have to adjust the message to highlight how it can help a new audience too. The same applies to new products. Let the current audience understand how it can benefit them, maybe better than your current products can. Consider combining the old with the new; such as Vera Bradley who found a way to create a bag with a built-in charger for smartphones.

 

Leverage Marketing Automation

Most businesses tend to see demographics as a kind of aggregate average. This perspective could destroy the chance to see the need for change. Different marketing channels are needed to target different groups.

Taking too broad of an approach to demographics ignores the micro-targeting capabilities that marketing automation systems offer. These days, a granular and personalized message has become the norm rather than just the exception.

Proven technologies like HubSpot and HatchBuck can help you to reach different demographics and appeal to a wider audience with your new products. By reaching these new demographics, you take your digital marketing to the next level and gain a deeper insight into customers; giving you even more chances to create new products that they want.

 

You should never be afraid to reach out to new customers and introduce new products for your current customers. Keep in mind that if you don’t give them what they want, they’re going to find it from someone else. You must adapt to the market and update products and services as necessary to stay in business. Don’t ignore the warning signs, and be sure to constantly innovate and offer new products.

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