Unlocking the hidden market
In this era of slow growth, traditional segments are often too mature to offer significant growth potential. Winning in new ways increasingly means unlocking demand in overlooked places. A hidden market.
The fact is, the market is filled with customers that actually want to hear more from brands. Moreover, they’re actually frustrated when brands don’t give them the attention they deserve. Even Millennials and Centennials often don’t believe brands properly serve them.
The level of frustration these groups share is the common opportunity to unlock a hidden market. These groups may agree on little else, but they’re bound by an intense belief that they’re being overlooked and underappreciated by brands.
There’s good news for brands here. These markets are defined and knowable; they are existing opportunities that can be leveraged today. And they want brands to stand up for them and their communities. Matching this desire doesn’t require a complete retooling of your brand image to serve every non-major market out there. But it does require advocacy over apathy.
In order to win in the hidden market, openness and respect for your markets must run through every aspect of your business—from marketing communications to product innovation to human resources and store design.