Map, Tap, Cap…

Marketers always strive to capture market share, grow their brand’s sales, and increase profits. While this is a commendable goal, achieving it without a structured process can be challenging.

To address this, I recommend a ‘map, tap, cap’ procedure that ensures systematic market penetration and sustainable growth.

The first step is to identify the targeted segment. Segmentation can be:

• Demographic (age, gender, income, occupation)
• Psychographic (lifestyle, values, interests)
• Geographic (location-based targeting)

Once the segmentation strategy is decided, it is critical to ‘map’ that segment thoroughly to ensure it is fully addressed.

When mapping the market, one must list all constituents of the segment with complete details. This includes:

• Customers and consumers
• Distributors and retailers
• Franchisees and institutions
• Corporates and business entities

For instance, if a mineral water brand is being launched, the entire market must be mapped comprehensively to achieve the set objectives.

Mapping the market involves three critical actions:

1. Conducting Homework: Researching market trends and consumer behavior.
2. Completing Groundwork: Gathering insights and data on potential customers.
3. Preparing for Engagement: Strategizing how to effectively reach the mapped audience.

Skipping this step can lead to missed opportunities, resulting in a significant opportunity cost that may prevent the achievement of key business objectives.

After you ‘map’ the market, the next step is to ‘tap’ the market. This means reaching out and approaching the mapped segments by presenting your brand’s features and benefits. Effective tapping ensures that potential customers become aware of your brand and consider it as a viable option.

If the customer and the consumer in your segment are not approached and made aware of your brand, then your objectives will not be met.

In the process of mapping the market, you have identified who to address and where they are located. Now, in the second step of tapping the market, you need to focus on what to address:

• What are the needs of the target consumers?
• What features and benefits should be presented?
• What rational and emotional appeals will be effective?

Some key benefits that can be highlighted include:

• Hygiene
• Taste
• Purity
• Convenience
• Portability

Many marketers succeed in mapping the market but fail to tap into it effectively. They know the who and where but overlook what to present. To ensure the process progresses successfully, after mapping the market, make sure to tap into it effectively.

The final step is to ‘cap’ the market, which means successfully closing the sale. This requires convincing the customer and consumer to favor your brand over others.

In this stage, the focus shifts to answering the why and how:

• Why should the consumer choose your brand?
• How can you persuade them effectively?

Successfully capping the market depends on mastering:

• How to pitch your brand convincingly.
• Why the customer and consumer will be persuaded to make a purchase.

The third step of my process of ‘capping’ the market is a critical step because it leads to conversion. This requires product and system knowledge and also requires convincing skills, which will help convert and ‘close the sale’. After opening the sale, you need to close the sale. You need to ‘cap’ the market.

When you are able to ‘map’, ‘tap’, and ‘cap’ the market, you will be able to capture the market. You will gain market share. You will grow your brand’s sales and you will increase your profits. This is an effective way to achieve your objective. Without this process, the probability and possibility of meeting your objectives would be low.

Hence, I would recommend my process of ‘map, tap, and cap’ to grow your sales, market share, and profits.