We were joined by top marketing consultants this morning to advise on our crowdsourcing campaign.
The draft details of my crowdsourcing campaign, to raise awareness of decisions, the importance of decisions in dementia, and how decisions can possibly be influenced, are here on my Kickstarter page.
This campaign is not live yet.
Most marketing strategists will agree that creating customer value is fundamental to both profit-seeking companies and nonprofit organizations.
Indeed, creating superior customer value is a necessary condition for a company securing a niche in a competitive environment, not to mention a leadership position in the market.
A price signal is information conveyed, to consumers and producers, via the price charged for a product or service, thus providing a signal to increase supply and/or decrease demand for the priced item.
A large focus of our discussions was ‘market segmentation’.
Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of “targets” who have common needs and priorities, and then designing and implementing strategies to target them.
Market segmentation strategies may be used to identify the target “backers”, and provide supporting data for positioning to achieve a marketing plan objective.
As a result, I might develop product differentiation strategy, so that the website I am designing fulfils diverse needs, such as for people with early dementia, journalists or NHS commissioners.
One of the leading consultants advised that for my particular project, and this is a difficulty any product-oriented kickstarting campaign, that “content is King”.
He advised me that a big problem with my pitch is that the figures asked for seemed very ‘budget’. I think, in fairness, he was concerned about my project looking too “bargain basement”.
Too cheap or too expensive can both be off-putting.
We’ve been advised to maximise use of all marketing channels, and to synchronise properly rewards to the different market segments.
This all seems very sensible.
But it’s all the same very exciting.
I hope to get hold of the makers of this short animation, based in Serbia, I think so that they can make a short animation on the importance of decisions for people living with dementia (for a stated revised budgetary cost of my output of crowdfunding campaign.)
This is by the way how I intend to maximise use of marketing channels (some details redacted.)