![\"millennials\"](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/helena-lopes-UZe35tk5UoA-unsplash.jpg\")
<\/p>\nA new market provides small and medium business company growth opportunities. But like the first few years spent investing time, money, and resources into getting the business off the ground, targeting a new market will require a significant expenditure in research, analysis, and other expansion costs.<\/p>\n
You\u2019ll be starting from scratch when getting to know your new customers. It can\u2019t be rushed with a few assumptions. Apart from gathering and sifting through all the necessary research, you\u2019ll have to create a profile that your sales, marketing, and business development staff can use to bring the company into this next phase. All this information can be applied to the rest of your branding executions, from your custom product boxes to the ads you run online.<\/p>\n
<\/p>\n
Millennials comprise the largest market your company can take a slice of sales from. America consists of 80 million millennials<\/strong>. They have $200 billion in annual buying power<\/strong>. Many companies have attempted to widen their reach in this massive, powerful market. However, their efforts have been ineffective because they use techniques that appeal to an older generation.<\/p>\nAmerica consists of 80 million millennials. They have $200 billion in annual buying power. <\/a><\/span>Share on X<\/a><\/span>\n As a millennial myself, I don\u2019t trust traditional advertising. We see through the smoke and see the mirrors, so brands that speak in stories and authentic voices stand out amid the digital noise. According to Forbes<\/a>, only 1% of millennials indicated that a strong advertisement would convince them to trust a brand.<\/p>\n Market research provides the information you need about the new consumer. Start by conducting a few surveys or focus group discussions among existing customers that will fit your new customer profile.<\/p>\n You can engage with them through face-to-face interviews or by using data collection tools. Just make sure that these tools have optimal digital security<\/a> features so all sensitive data from your customers are safe.<\/p>\n Extract details from demographics that will flesh out your customers, such as their age, income, sex, marital status, profession, and specific buying habits. From here, you can create specific strategies around how your marketing will appeal to the customer based on this information.<\/p>\n A complete list of your customers’ demographic can be summarized into:<\/p>\n The age of your consumer will specify which type of millenial you\u2019ll target. This generation encompasses everyone born from 1981 to 1996<\/strong>, so older millennials in their early thirties will have a different income range and marital status compared to those in their late twenties.<\/p>\n A customer persona concretizes the story and journey of your target market. 90% of companies with personas<\/strong> have a clear understanding of their consumers. A persona consists of demographic information, their location or geography, profession, and why they have an interest and need for your product.<\/p>\n Personas promise results: 71%<\/strong> of companies that go above their revenue goals have documented personas. Because you know who to reach, it\u2019s easier to figure out how to get there and exceed sales expectations. Detailed consumer information also increases your value proposition. 82%<\/strong> percent of companies<\/strong> with personas improved their value propositions from the start of the brand.<\/p>\nPersonas promise results: 71% of companies that go above their revenue goals have documented personas. <\/a><\/span>Share on X<\/a><\/span>\n Vice President of Search at Wikimotive, Greg Gifford<\/a>, emphasized this in his search engine marketing chat on Twitter:<\/p>\n “Most of us have said it already, but actually thinking about how customers\/personas search is key to success.”<\/p><\/blockquote>\n Now that you can picture and tell your new market\u2019s story, the steps taken toward reaching them will be directed and lead you closer to this target consumer.<\/p>\n Look at who your competitors are targeting. Or study competitors that are aiming for a similar profile of millennials. Observe the kind of products or services they\u2019re selling to their target customers. How are their blog posts, social media, and web ads framed to appeal to this market?<\/p>\n Assess the gaps or look for opportunities in their strategy. If a competitor in your cosmetics line aims for the high-end market, you can appeal to the middle-class consumer that seeks out budget deals in high quantities but with competitive quality.<\/p>\n Your new consumers are only in the awareness stage. They have yet to see and get to know the product or service you have to offer for the need or interest you\u2019re addressing in their lifestyle.<\/p>\n You could be a coffee shop known for delivering beans, but your target market of 20-somethings has yet to experience the cafes where they can work and enjoy your coffee.<\/p>\n Spend more time introducing and becoming top of mind for your new target market. Create content in channels that reach your new consumer, such as blogs. Millennials do their research before purchasing a product. You can also engage them in social media, wherein they source most of their information and trust recommendations from their peers.<\/p>\nCreate content in channels that reach your new consumer, such as blogs. Millennials do their research before purchasing a product. <\/a><\/span>Share on X<\/a><\/span>\n Keep the customer top of mind, whether you\u2019re planning content in the awareness stage or the design on the new product\u2019s packaging. Your custom product boxes will do the work while it\u2019s on display on grocery aisles or set up at the front of your store. If your product box is worth looking at and answers the problem they\u2019re solving, then you have a higher chance of ending up in their basket.<\/p>\n The colors, typography, and information on the product boxes should appeal to your target market. Before anything else, consider first the need your product is addressing.<\/p>\n Mr. Muscle\u2019s competitor, Buster, looked at how their consumers were agitated by unclogging the drain. They were also working against bigger competitors with larger budgets and the global recession that prevented consumers from purchasing their products.<\/p>\n\u201cThe colors, typography, and information on the product box should appeal to your target market.\u201d <\/a><\/span>Share on X<\/a><\/span>\n In response to this problem, they created clean, simple packaging that stood out against the bright colors and noise on the shelf. The designs were launched in June 2013. Effective Design\u2019s report<\/a> said that they exceeded outbound sales<\/a> by January 2015.<\/p>\n Buster\u2019s strategy also shows how a simple design is more effective in appealing to your target market. It allows you to stand out without straining the consumer\u2019s eyes.<\/p>\n2. Get to know your new market.<\/h2>\n
![\"sales](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/christiann-koepke-5SsFQ6oNbX4-unsplash.jpg\")
<\/p>\n\n
3. Create a customer persona.<\/h2>\n
4. Steps toward market entry.<\/h2>\n
a. Assess the competition.<\/h3>\n
![\"\"](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/headway-5QgIuuBxKwM-unsplash.jpg\")
<\/p>\nb. Amplify brand awareness.<\/h3>\n
c. Create a design for the product boxes that appeals to your customers.<\/h3>\n
![\"Product](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/Custom_Product_Boxes.jpg\")
<\/p>\n
![\"\"](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/andrew-mantarro-irNbHWY-Zw-unsplash.jpg\")
<\/p>\n![\"How](\"https:\/\/uprinting.com\/blog\/wp-content\/uploads\/2019\/12\/How_To_Rebrand_Your_Packaging_To_A_New_Market_A.jpg\")
<\/p>\n