In any B2B market there is what we call a market narrative. It’s the ongoing “conversation” taking place among players as they look at the market’s trends, issues and customer needs. Identifying the narrative and how your company and products fit into that narrative can drive your communications strategy.
So how do you go about researching and creating a market narrative?
Here’s how it worked for one of our clients.
At the outset of a recent project for a commercial exterior wall systems manufacturer, we engaged our paid, earned and owned media experts to conduct a comprehensive survey of the information sources serving the commercial building market space. Our goal was to get a sense of what the market was talking about.
The market narrative audit revealed that the commercial building market space in the United States accounts for 40 to 50 percent of all energy consumed. Not surprisingly, energy savings and the evaluation of methods to achieve those savings are consistent themes in market conversations. Additionally, the survey revealed that the market is in the midst of adapting to new building code regulations, many of which are designed to reduce energy consumption in buildings. Elements of the new code directly relate to the feature set of our client’s exterior wall system.
This revelation proved to be a major opportunity for our client. It set the course for a renewed emphasis on its system for meeting the new building codes, improving a building’s energy efficiency and realizing energy savings.
We helped the client revise its communications strategy, positioning the company as a technology leader and leading to a concept focused on educating the market. Messaging emphasizes the building science inherent in its system; it’s told within the context of the market narrative of energy savings and evolving building codes.
By taking time to investigate the market narrative, our client gained valuable insight into the trends, issues and customer needs of the commercial building market space. Dialing into the market narrative shaped the communications strategy, making it more relevant to market concerns. It also ensured that the messaging better resonates with the specifying and buying audience.