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January Char's Perspective
Gina Bertoletti
Moore Norman Technology Center
Audience Development, Product-Market Fit, and Strategy: A Roadmap to Success
The January OVF Power lunch will focus on Audience Development, Product-Market Fit, and Strategy. Whether starting a new business or re-tooling a mature business, creating a successful venture requires more than a great idea in today's business environment. It requires a deep understanding of your audience, a product that solves a real problem, and a strategy that aligns both.
Audience Development: The Foundation of Your Business
Audience development is the process of identifying, and engaging, the right audience. It is the foundational step in building a business, as your audience is the lifeblood of your success.
Utilizing tools like surveys, focus groups, and social media insights will help you gather data. In turn, you can personalize experiences, content, and communication that resonate with them.
Product-Market Fit: Aligning Your Offering with Market Needs
Product-market fit occurs when your product or service meets the needs of your target market in a way that makes it indispensable. Achieving this is critical because it means you're providing value customers can’t easily find elsewhere.
Does your offering solve their problem effectively? The key is listening to your customers and staying flexible. As the market evolves, so should your product.
Strategy: Turning Vision Into Action
The next step is creating a strategy to scale and sustain growth. A well-thought-out strategy aligns your business goals with your audience’s needs and market conditions.
Consider factors such as competitive differentiation, marketing channels, partnerships, and pricing models when developing your strategy. Regularly assess and refine your approach based on performance metrics, customer feedback, and industry trends. A successful strategy is adaptive!
Audience development, product-market fit, and strategy are not isolated stages—they are interconnected elements that will fluctuate. By understanding and engaging your audience, refining your product to meet their needs, and executing a solid strategy, you’ll be well-positioned to thrive in today’s competitive market.
I hope you will join us for this important presentation from Past OVF Chair Kyle Golding.
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