MAD-R in the marketing world represents Money Authority Desire and Response. It’s the driving force behind the strategy building for your marketing mix and when it comes to social media marketing it absolutely should not be ignored. Couple it with AIDA, and you have a solid foundation for building any strategy you need (be it SEO, PPC, Email, Traditional, Mixed, etc.)
A long time ago someone said “Money can’t buy happiness” and while that might be true people can’t typically buy your products on good will alone. You need to make sure you’re marketing your product to people who have the money to buy your product. One of the ways you can find out this information is by using sites like Alexa and Compete to get a ball park idea.
Once you’ve figured out where the people who can afford your product hang out at next is to find out if they have the ability to purchase your product. This requirement will definitely change based on whether your product is a B2C or B2B product and at what level it’s used at.
If it’s a B2C is a big ticket item like home electronics or low priced like everyday consumables (“grown-up” purchase vs any kid with $15)? If it’s B2B is it an expensive training system or office supplies (VP or director vs office manager)? Knowing who will have the ultimate authority to say yes or no will help define your target market and your messaging.
It’s harder to discern desire, but it’s something that you can figure out using tools like surveys, questionnaires, competition research, and listening posts. Again, what constitutes as desire will change based on what you’re selling.
If you’re selling a large corporate training system then you need to target those who have a desire to stay abreast of trends and changes in their market. If it’s for a TV then you need to find people who want to upgrade from their current television situation. Desire is also where MAD-R intersects with the aforementioned AIDA.
The final step is figuring out who will likely respond to your marketing. Compare yourself to your competition or similar products that may be for a different niche. How do people respond to their marketing, who responds, and why?
Are people in their 30′s more likely to respond to your marketing than people in their 40′s and buy a huge TV even though both groups have the Money, Authority, and Desire to purchase your product. Where do they place your product in their priority list? Are businesses with 100 employees more likely to respond to your training system than businesses with 1,000?
Putting it all together
Markets are defined as groups that have the Money available to purchase your product, the authority to say yes, the desire for your product to fix a problem they have, and will respond to your marketing mix. A Target market is one that has all of these attributes in greater concentration.
Your job as an social media marketer is to define the MAD-R for your business / products, find where your target market hangs out online, and then build your messaging and interactions around what you’ve learned about them along the way.
Listening tools (like Google Alerts or Radian 6), information aggregation tools (like Alexa and Compete), and active information gathering tools (like surveys, questionnaires) are going to be some of your greatest tools in figuring this out.
This isn’t an easy thing to figure out, it takes some serious time and effort (a marketing researcher basically spends 40 hours a week figuring this stuff out). However, the more you can define your market, the better image you have of your customer, the more information you have the better your strategies, campaigns, and successes will be.
Thanks for reading,
Josh S Peters