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2 minute marketing tutorials Why you need to narrow your target | #2minmarketing

Mat Shore is a world leading expert on Value Proposition and Insight Development. He's trained 35,000 people, in 27 countries over 20 years how to develop and use breakthrough insights in marketing and innovation. He's spoken on the subject in the boardrooms of some of the world's leading companies and his clients have an annual turnover exceeding $160 billion dollars.

Most people don't buy iPhones and Apple don't care!

Trying to target everyone is one of marketing's biggest fails? - Check out this 2 minute video to see why.

Most product managers secretly think that everyone will want their product, "Hell it's so good, who wouldn't want it right?"

The problem is that:

-The bigger the target, the more vague the message

-The bigger the target, the less focused the features

-The bigger the target, the less relevance we have

- The bigger the target, the less differentiation we create

And yet, companies and brands think that they will uniquely be able to create the apple iPhone of cars, laptops, airlines, washing powders, nail polish remover, MRI machines or electric toothbrushes.

Just as a quick point of reference the iPhone volume share is 6%

The vast, vast majority of people don't buy Apple and they sure as hell don't all buy iPhones.

However, Apples value share is 24%. By selling to less people, they increase the loyalty and relevance to those they do want to sell to.

Check out my 2 minute video on this subject, which is part of a new series of super concise video tutorials aimed at explaining the fundamentals of marketing in clear language in just 2 minutes.

Let me know what you think?

#2minmarketing #matshoreinnovation #marketingeffectiveness #valueproposition #targeting #segmentation #MatShoreInnovation