Target marketing, by simple definition, is segmenting customers into groups of those with similar needs and preferences and focusing your marketing efforts on them. In doing this, you’re able to tailor your marketing campaign to reach them in a language and method they can identify with.
It’s one of the best ways to be successful in marketing and to build a profitable business. You can discover the needs within the group and adopt the marketing strategy that suits the identified target group.
However, it can be challenging if you don’t know where to start or do it right. The first step is to understand your audience through market study and research. But it doesn’t stop there. To help you build a strong target marketing strategy and campaign, look at the do’s and don’ts of successful target marketing.
The Do’s of Successful Target Marketing
If you’re to succeed in reaching your target audience and keeping them interested in your brand or products, certain practices are a must-do. Here are some do’s of target marketing:
DO: Undertake Extensive Market Study
It’s essential to understand your industry, niche, competition, and market segments. Having the appropriate data behind what drives the market should influence what target group you choose to market your brand to. It’ll also ultimately guide your marketing plan and strategy and save you from selecting and focusing on the wrong target group.
Your market study needs to be extensive whether you’re using demographic, behavioral, or location based marketing techniques. This is how you know if the market segment you’re targeting is flooded or there are enough customers for your business as well. In addition, comprehensive knowledge of your product and services will enable you to communicate in your audience’s language.
This is key to ensuring that you get a target audience that loves what you present to them. Studying your competition is also crucial as it’s how you know what’s already available in the market and how it’s been presented to the audience. Ask yourself how your targeted marketing campaign will differ from your competitors and why the customers should listen to you.
Understanding your competitors allows you to position your brand and products in the market strategically.
DO: Get the Correct Target Group
Your correct target audience is the group of customers that are most suitable for your products or services. Their characteristics match your brand and products better than the other groups. Experts recommend that your correct target group should possess the following features.
- Well-defined and measurable: Ensure that your target audience has a clear definition with unique aspects such as gender, cloth sizes, age group, or income.
- Accessible: Ascertain that you can actually access the target market either in some way.
- Fit and inclined: Check to see that your products are ideal for your target audience, they need what you’re presenting to them, and they’re inclined to purchase it.
- Representative: The target market needs to be big enough for the business to benefit from engaging with it.
The best practice is to develop criteria to collect data on each factor above. You can then rank and rate which group you should focus on from there.
DO: Focus on Your Audience
The first rule in any marketing strategy is to focus on your audience and their needs. Even with the most suitable products for a target group, your marketing efforts would be futile if they don’t match customer needs. Your mindset should be on how they can best benefit from what you’re marketing to them.
Your marketing campaign’s aim should be to satisfy their needs and give solutions to their problems. If you’re able to do that, your chances of clicking with your target audience can significantly improve. In return, you create a relatable brand that helps to build lasting relationships with your customers.
The Don’ts of Successful Target Marketing
While defining and marketing to a target audience is entirely possible, some mistakes can hinder its success significantly. Here are a few mistakes that can reduce the impact of your target marketing efforts:
DON’T: Make Any Assumptions
Assuming that you know everything about your business, products, or services without complete market research is a fatal target marketing mistake. Getting customer views and feedback is essential to understanding where to target your marketing efforts. It doesn’t matter how well you think you know your business or the target market, don’t make any assumptions.
Consumer brand and product engagement trends change with times and seasons. You must stay in touch with your target market’s wants and needs.
DON’T: Overlook Target Market Viability
Another critical thing to avoid at all costs is neglecting to check market viability. Otherwise, you may end up without clients and sales. You may find that a target market is too narrow to sustain the business. Sometimes a target market is just too small or has been narrowed down too far. For successful target marketing, you need to have a sufficient target audience to engage with your offering.
DON’T: Be Target Market Biased
When choosing which target audience to focus on, give the same attention to each segment. There will be a problem if there’s bias in the process. When resources are limited, it’s easy to overlook market viability and other essential processes and jump on to the easiest solution.
If, for example, the questions asked to gather market data are devised to get a specific answer, the result will be inaccurate and might cost you significantly in the future. You may end up targeting the wrong audience, which can affect your sales and revenue.
DON’T: Forget Your Overall Goal
Target marketing has to have a set goal. That’s to be unique with attractive qualities to offer your audience. These qualities should increase engagement and conversions. While being original here is an excellent idea, being unique also matters. You need to know the difference and create a balance between the two to meet your overall marketing goal. This requires you to collect sufficient data.
Solid knowledge of your target audience is imperative for successful target marketing, as marketing is more than just about buying and selling. Similarly, you need a comprehensive understanding of your products and the competition.
Prioritize your business goal by guaranteeing that your marketing strategy improves the number of visitors who can convert to customers. Be practical and use qualitative methods to collect unbiased data.