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February 7, 2023
From cementing a unique brand voice to strutting your stuff, here are 08 answers to the question, “Can you share your most effective tips on how to segment a brand in a flooded market?”
- Keep Creating and Customizing
- Establish a Distinct and Authentic Brand Voice
- Target Your Brand Based on Geographic Location
- Develop Buyer Personas
- Build a Community Around Your Brand
- Remember to Peacock, Personalize, and Be Persistent
- Identify and Target a Specific Underserved Niche
- Tell Your Story
Brand segmentation involves breaking down a broad target audience into smaller groups of individuals with comparable needs or traits, and offering a specific value proposition to each segment. It allows your company to target your marketing efforts and tailor your product offerings to specific needs belonging to different segments.
Segmentation is essential for a business to grow, but if you’re operating in a particularly competitive industry, breaking through may be a tough job. This is why we’ve reached out to experts from different industries to get their advice on how they were able to segment their brands in a flooded market. Let’s look at what worked for them.
Abeer Raza, CMO & Co-Founder, Tekrevol
Keep Creating and Customizing
I strongly believe that there’s no end to innovation and creation, and in a highly flooded market, only those who keep up will survive the test of time. If you’re trying to make your mark, then the most important thing is to keep researching during every step of the segmentation process. Analyze the results and adjust your strategy as needed. By going into specifics and analyzing the data available to you, like in-store vs. online purchases, customer demographics in different regions, etc., you’ll be able to identify what drives conversions and where.
This will not only give you an edge over competitors but will also allow you to curate special offers and promotions for different segments, boosting brand loyalty. Using this information, you can specifically target loyal customers and create campaigns just for them based on their habits and preferences. Doing so will make your customers feel that they’re important to you and that you care about meeting their unique needs.
Mogale Modisane, CEO & Chief Content Creator, ToolsGaloreHQ
Establish a Distinct and Authentic Brand Voice
Breaking away from the competition in a saturated market really comes down to knowing yourself and your audience. Standing out in a crowded marketplace can be daunting, but one tip that has worked wonders for me is establishing a distinct and authentic brand voice.
Every successful business needs a personality behind it: think of it as your very own dictionary that represents your core values, speaks to customers engagingly, and highlights what sets you apart from the rest. This goes for how you communicate inside the business, but also for how you present yourself externally on digital channels like social media. A savvy brand voice guarantees people will remember you today.
Maria Harutyunyan, Co-Founder, Loopex Digital
Target Your Brand Based on Geographic Location
Having worked with diverse niches throughout my SEO journey, I attest you should take advantage of location. Yes, location. It can play a huge role in segmenting your brand in a flooded market.
Here is how: you can focus on a specific geographic region or city and tailor your branding and marketing efforts to appeal to the unique needs and preferences of customers in that area. By targeting a specific geographic location, you can differentiate your brand in an overcrowded market.
Let’s say you have a car rental company that specializes in rental cars for beach vacations in a specific coastal city. You can create a website and social media pages that highlight the local beaches, attractions, and events. You can also have a team that is knowledgeable about the local area and can provide recommendations to customers.
In summary, location is key in identifying and targeting specific segments within a flooded market, and tailoring branding efforts to appeal to those segments.
Brian Clark, Founder, United Medical Education
Develop Buyer Personas
By developing buyer personas for each potential sector, you can visualize your audience. A buyer persona is a description of a fictitious client who stands in for a target market of consumers.
To summarize your market research on audience demographics, behaviors, interests, and communities, use the buyer persona information. These fictitious characters can assist you in locating the most important subgroups within your total audience so you can begin planning how to engage them. You may decide which types of clients should be at the center of your segmentation strategy by reviewing buyer personas.
Daniel Chabert, CEO & Founder, PurpleFire
Build a Community Around Your Brand
One tip for segmenting your brand in a flooded market is to focus on building a community around your brand. Building a community of loyal customers can help you stand out in a crowded market and create a sense of belonging and loyalty among your target audience.
This can be achieved by creating engaging content, hosting events, and fostering conversations and interactions among your customers. This can help differentiate your brand and give it a unique voice in the marketplace that resonates with potential customers.
Additionally, by creating a powerful community, you’ll be able to tap into customer insights to ensure your product or service meets their needs and expectations. In the end, building a loyal customer base will make your brand more differentiated from its competitors in the long run.
Robert Acheson, Founder, CrypWalk
Remember to Peacock, Personalize, and Be Persistent
That line from The Nutty Professor is the first thing I think about when markets get rough. When they do, follow the rules:
- Rule 1 – Peacock – Become more visible. Literally. Handing out business cards? How about a branded Magic 8 Ball instead? No joke. Why should someone notice you, let alone remember you? You know who gets noticed – Peacocks!
- Rule 2 – Personalize – If you’ve done no research on me or my business, I don’t have time for you.
- Rule 3 – Persistence – I’m busy. I get calls every day. I’m trying to run a business, so work for it. Remind me. Reach out again. Ask me when I’m free. People are reciprocal by nature, and there’s nothing a business owner loves more than a sales rep who hustles. I promise you that.
Luciano Colos, Founder & CEO, PitchGrade
Identify and Target a Specific Underserved Niche
While the population is large and varied, there are still smaller subsets of people who are looking for specific products that aren’t available anywhere else.
By identifying these underserved groups, you can direct your marketing efforts and tailor your products to fit their needs, making you stand out from the crowd. For example, you could focus on a specific demographic, such as young professionals or seniors, or a specific need or interest, such as eco-friendly products or high-performance gear.
Consider who your competitors are and who they are targeting with their products and services. Find the gaps, then fill them with what your audience is looking for.
Kate Wojewoda-Celinska, Marketing Manager, Spacelift
Tell Your Story
One tip to segment your brand in a flooded market is to tell your story. Tell the story of why you started your business, what inspired you, and how that drives everything you do. Tell stories about key products or services, customer successes, and team achievements—showing the unique value that sets you apart from other players in the market.
By doing it and connecting it to your brand values, you can create a unique identity and help customers understand why they should choose you. The storytelling techniques employed by companies like Apple and Nike have been incredibly successful in helping them stand out from their competitors—the same could be true for you. Tell the world your story and watch your brand get noticed.
Summing Up
From curating offers for specific segments of customers to doing ethnographic research and establishing a unique brand voice, our experts imparted their wisdom on stepping out of your comfort zone to segment your brand in a dense market. What worked for them may not necessarily work for you but good results never come easy. Trial and error is required before figuring out what exactly will work for your brand and set it apart from the competition.
