Brand Relevance: How to Identify Untapped Opportunity

Is your brand relevant to the different audiences – customers, influencers, media, and others – that you want to reach? More specifically, how can you find untapped opportunities to determine relevance? How can you determine what they want?

In economics, ‘supply and demand refer to the relationship between the price at which companies wish to sell their product/service and the price that consumers are willing to pay for it. The more something is, the less valuable it is. The more people want something, the more valuable it is. The balance sheet changes constantly based on several economic factors.

There is a discussion among economists about what comes first – question or question. However, in the context of brand relevance – rational or emotional affinity with your brand for an audience – it starts with the question (mainly to get help or information), and understanding the question requires research, data analysis, and audience intelligence.

Subject content/supply and demand

The model below illustrates how supply and demand can be used to determine brand relevance and how analysis can be found empty – a small market angle on a specific topic that no one else has. In short, an untapped opportunity to claim a position.

Several listeners are on the right. The question represents the stories, content, and topics that require your attention; answers the question, “What is important and relevant to my audience now?”

Receivers

There are several ways to discover white space in the market to become more relevant to the public, but each requires a different method. Let’s start with the target audience.

Target Audience

There are many ways to select audiences through biological research, conversations, sharing habits, and general affinities. For the B2B audience, bionic research is more accurate. Either way, there are important data points that you can discover and use to inform your marketing programs:

  • Interests and relationships that make an audience unique compared to other audiences (general population, CEOs compared to CIOs, etc.)
  • The social channels they prefer to use and why
  • Factors that influence your purchasing decisions
  • The topics they pay the most attention to
  • The media publications they prefer to read

Influences

Influences have the ability to reach new audiences, create new markets and strengthen new categories. In general, your content is good on Google and influences purchasing decisions.

Finding the right influencers today can be difficult, but here are four data points to compare:

  1. Reach: What is the size of the community across all channels: blogs, articles, posts, and social networks?
  2. Relevance: How often do they talk about topics that are relevant to your business?
  3. Resonance: how does their content resonate with the public and lead to engagement?
  4. References: are they cited or cited by other influencers?

The media

There are several ways to analyze the media. You can analyze all media together, looking at all company publications and technology publications. Or you can take a look at 1, 5, 20, or more publications that you want to prioritize. This approach requires that all articles in the dataset be analyzed to find patterns and insights in coverage and the most important topics for the media. The more they write about a topic, the more relevant it is to your editorial plan.

It is smart to refer to the number of articles posted on a topic with the associated engagement and Unique Monthly Visitors (UVM) of that publication. Engagement is a social action (for example, commenting, sharing, tweeting); it is proof that the content has repercussions on a specific audience.

What is next?

There are two things to remember before examining your audience’s supply and demand.

The first thing you need to do is prioritize the audience you want to study and analyze. This means determining whom you want to be relevant to, as each target audience has different values and concerns.

Second, without detailed information, the data is just a number. In addition to the type of data analysis highlighted in this article, you should perform low human analysis to reveal little insight and white space. It will take longer, but it is worth it.