A market profile reveals the unique characteristics of your typical customer and customer groups. It paints a picture of whom you are selling to and what your typical customer looks like. A good one will allow you to separate your prospects from those who aren’t interested in your product. Your brand strategy should be focused solely on the people or businesses that fit your profile.
Let’s look at the classical approach to creating a market profile. Think about each attribute of your market and quantify that information.
Industries (for B2B)
Size & Trends
For Both B2B and Consumer Markets
You’ve now learned many of the concrete details about your market profile. Now add the elements of the “touchy feely” buyer persona to the equation. This will add intelligence to your profile, and give you a better understanding of who you’re really selling to.
Once you’ve painted the precise profile of your market, make sure that the information is available to everyone involved in making strategic decisions. Most of your competitive positioning and strategy choices should be judged through this framework.
Most importantly, when you are making brand strategy decisions, make sure that they resonate with everyone in your market profile. If your profile is accurate and focused, you will lay the foundation for a strong brand that your market embraces.