Targeting strategies are generally used in terms of advertising as ways to maximize sales profits by directing marketing projects directly at the most likely consumer base. There are several different targeting strategies but the basic goal of each remains the same, to identify the target market or audience who is most likely going to be interested in buying your product so that you reach the people who will make a purchase.
In general, the aim is to spend money reaching only consumers who want your services instead of a wide audience out of which only a few people may be interested in your services or products.
Along these lines, some of the most popular and frequently used targeting strategies are consumer marketing strategy, behavioral targeting, contextual targeting, and segment marketing. The common link of most of these targeting strategies is based around identifying the needs of your target audience and tailoring your marketing efforts so that you meet their needs and wants. Of course, in order for any of these strategies to work to their best they also require the proper consumer research to identify who your target audience is.
A popular offline targeting strategy is to create a brand name and style that carries a stigma that your target audience can identify with. For example, back in the nineties when the economy was still healthy Abercrombie and Fitch marketing affluence and exclusivity at middle class society and as a result created a clothing label out of thin air that was the requirement for all teens and college kids.
Break your overall target market, existing customers, or prospective customer base into manageable segments such as: geography, product type, demographic, etc. that you can direct specific marketing messages to.
Once you’ve segmented your list you can begin to determine which types of customers to target at various times of year.
Companies using target marketing are more efficient because they aren’t wasting money advertising to people outside their target segment.
Personalization makes your targets feel more valued, since you are focusing on something you believe they would use and value.
Sometimes it is easier to illustrate this concept with an example. Let’s say you are a professional organizer and want to define a lucrative target market that plays to your strengths. You could offer the following services that would appeal to different audience.
In each case, although you are using your organizing skills, each of these services would require different messaging, pricing and promotional strategies to reach those that have the need, know they need help and are willing to pay for getting that help.
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