Dual-Target Marketing Strategy

Introduction

Experiential Academy is an edtech startup that has recently launched a platform connecting management students with small and medium-sized enterprises (SMEs) to collaborate on real-world business projects. Through the platform, students gain practical experience by working with businesses on research, planning, and strategic projects, while SMEs benefit from fresh perspectives and innovative ideas.

However, like many multi-sided platforms, Experiential Academy faces a unique challenge: achieving balanced growth in both user segments—management students and SMEs. The platform’s success relies on having an active user base of both students and businesses, as only their interaction creates value for each side.

Project Brief:

Design a marketing strategy to attract both management students and SMEs to the Experiential Academy platform. The marketing plan should address ways to communicate the unique value proposition of the platform to both user groups, using targeted campaigns and channels that resonate with each audience.

Objectives:

• Develop a dual-target marketing strategy that effectively attracts and retains both students and SMEs.
• Identify suitable digital marketing channels, such as social media, search engine marketing, and influencer partnerships, to reach each group.
• Recommend a brand positioning strategy that appeals to both sides of the platform while highlighting unique benefits for each audience.

InnoMinds' Insights

The following academic frameworks might help conduct this research:

Key Frameworks & Theories to Apply:

• Two-Sided Market Theory (e.g. Filistrucchi et al., 2014): Focus on how the platform creates value by facilitating interactions between students and SMEs, leveraging network effects (more users on both sides enhance platform value)
• STP (Segmentation, Targeting, Positioning): Tailor campaigns to each segment—students seeking experience, and SMEs looking for fresh ideas and talent
• AIDA (Attention, Interest, Desire, Action): Guide the development of marketing messages that engage and convert users on both sides of the platform
• Diffusion of Innovation: Theoretically, this framework talks about the adoption of innovation and different characteristics and approaches to individuals. It could be helpful for this project targeting.

Potential Data Sources:

1. Market Research Reports & Industry Data:
   • Statista: Industry trends, digital marketing data, and market segmentation insights
   • IBISWorld: Reports on edtech and SME sectors to understand growth and market dynamics
   • Eurostat
   • Consulting Firm Reports (McKinsey, BCG): Insights on education, SMEs, and digital marketing strategies
2. Government & Educational Data:
   • OECD: Global education and workforce readiness data
   • National Education Statistics (e.g., U.S. Bureau of Labor Statistics, UK Office for National Statistics): Data on student demographics, employment outcomes, and SME growth
3. Surveys & Interviews:
   • Primary Research: Conduct surveys and interviews with potential users (students and SMEs) to understand their needs and motivations
   • Focus Groups: Gather qualitative insights from small groups to refine messaging and positioning