Why you need to conduct a market research analysis in this age of narrow to #getnoticed and grow your business; with Sean Campbell, CEO of Cascade Insights
Spoken excerpt from a podcast (recorded 2022-09-28) in which Sean Campbell (via SPEAKER A) emphasizes the importance of narrow market positioning. He argues companies should use market research—segmentation, buyer persona studies, and competitive-landscape analysis—to define where to compete, explicitly communicate what they don’t do, and set realistic marketing and sales boundaries rather than over-extending their positioning.
Chapters
Well, first off, I think for a lot of companies, the most important thing they can do is focus on how they position themselves. A number of companies initially focus on how they can produce good content, how they can reach out to customers. It's a lot of the activities that require muscle. Positioning requires you to use your head. And that's its primary goal, is to figure out where in this marketplace should, should I stick myself and how should I define myself? The problem is also when most organizations, this kind of leads up to the age of narrow discussion is that their positioning is fairly broad. But taking one step further and actually telling the market what you don't do. I mean, you can conduct market segmentation studies, you can do studies with buyers and do buyer Persona research to figure out where the lanes are. You can do competitive landscape research to figure out if there's kind of a gap between you and the competitive landscape that you should grow into. But, yeah, you can definitely set the bounds of that. And it's a good point. You shouldn't set it probably without a certain amount of research, because the combination of your need to feel like your business could reach all these potential areas might lead you to make the bounds of your business a little bit bigger than it should be when it comes to your marketing and your sales efforts. And I think there's a kind of a good reality check that you get from doing the research itself.
More from Jim
PodcastYour Website Can't Compete With This New Rule