Marketing can be described as the “art and science of getting people to buy your product or service”. It involves understanding customers’ needs and wants, and using this to create marketing campaigns that satisfy these needs and wants.
However, while the focus of traditional marketing has been on reaching as many people as possible with advertising, contemporary marketing takes a more focused approach.
This approach involves researching specific customer groups and personas, and tailoring marketing strategies and activities to satisfy their specific needs. It focuses on highly targeted marketing and digital marketing.
Why Targeted Marketing?
For most businesses, marketing is a necessary evil. You need to do it to grow your business, but you don’t particularly enjoy it. Marketing can seem like a black art, with lots of acronyms, buzzwords, and formulas that you’ll never truly understand.
But what if I told you there was a way to make marketing easy, and even enjoyable? What if I told you that you could target the needs of a specific group of people, and even those people would say “thank you” for your efforts?
When speaking with marketing experts, they’ll tell you that highly targeted marketing is the key to building a successful business. You can’t just broadcast your ads across the entire social media universe and expect to hit your target market. You need to zero in on specific groups of people, and figureheads in order to make an impact.
But what is a “targeted group”, and how do I get started building one?
The Difference Between Targeted Marketing and Broadcasting
Broadcasting is simply doing something to everyone. You put out a TV show, and it gets broadcasted to everyone. You put out a radio show, and it gets played to everyone. Your ad goes out to everyone, and something something occurs probably around 30% of the time. So, you’ll get a response, but it may not be the one you’re looking for.
On the other hand, targeted marketing is focused on reaching certain groups of people. Say you have a clothing store, and you want to target people aged between 18-24. You can set up an ad on social media platforms like Facebook to reach this audience. Or you can write an email to people who have expressed an interest in your product, and ask them to come back and make a purchase.
There are pros and cons to both strategies. If you want to achieve the greatest results with the least amount of effort, you should definitely go with a targeted marketing strategy. But if you want to feel like you’re reaching the greatest number of people, the broadcasting strategy is the way to go. Ultimately, it’s a decision that you’ll need to make based on your goals and the types of leads you’re looking for. If you want to grow your business, it’s highly recommended to follow the lead of successful businesses and use a targeted marketing strategy.
Now, let’s get to the good stuff…
Build Your Targeted Marketing Strategy
There are several steps you need to follow in order to build a targeted marketing strategy. The first step is to set a benchmark for yourself and your team. Make a list of the top three to five key activities you’ll need to complete in order to implement a successful strategy. Once you have this list, you can start to create a gameplan.
For example, lets say you’re a fashion brand looking to expand your operations into the health and wellness space. Your key activities might include;
- Setting up a website for your fashion brand
- Creating brand awareness through digital media platforms
- Developing a social media strategy
- Conducting market research
- Designing products for the fashion industry
- Creating online stores
- Developing a brand voice and language
Whatever your top three to five key activities are, write them down. By doing this, you’ll have a clear benchmark to work towards. If you’re looking for guidance, you can approach marketing agencies that have experience in creating targeted marketing strategies for businesses.
Next, assess your current marketing activities and determine the results they’ve produced. You can start by looking at the numbers, with Google Analytics being the most popular tool for this. Are leads being generated? What’s the conversion rate like? What platforms are you using, and how can you measure the results of these platforms?
This step is all about taking a good hard look at your current operations and determining the success of these operations. If you’re looking for inspiration, you can examine other successful businesses in your industry and adopt their strategies. You can also look to the examples set by digital marketing agencies and consultancies who have experience in creating marketing campaigns for clients. Ultimately, this step is about establishing the baseline of your operations, before you start to change anything.
Once you’ve taken stock of your current operations, it’s time to start brainstorming ideas. Brainstorming is one of the most important steps in the process, as it allows you to come up with different approaches, tests, and ultimately, new ideas. You need to look at every aspect of your operations, not just the results you’ve seen so far, but things like;
- The pricing of your product
- The quality of your product
- Your competition
- Why you’re in business
- Your target audience
- The goods you sell
- How you sell them
- The delivery models you use
- Your branding
- Your website
- Social media accounts
- Pricing structures
- Product range
- Delivery models
- Your corporate culture
As you can see, this step involves thinking about everything that goes into your operation. You want to avoid brainstorming only around the results you’ve seen so far, because at this point, you’re already thinking about what you need to do in order to improve the results you’re seeing. Brainstorming should always precede the development stage of your strategy. This way, you’ll ensure all the key players in your organization are on the same page, and that everyone has a clear understanding of the objectives and what needs to be done to meet these objectives.
Develop Your Marketing Campaign
After you’ve established the baseline of your marketing strategy, it’s time to develop your marketing campaign. A marketing campaign is simply a series of activities you’ll carry out to get the word out about your business and generate leads. The goal is to grow your business, so you’ll ultimately have a need for a marketing campaign. You can’t expect to generate leads simply by going online and putting up a website. You need to put in the time and effort to get people to know and trust you. One of the best ways to do this is through marketing campaigns on social media.
Your first step in developing your marketing campaign is to choose a social media platform. The most popular ones for marketing campaigns include;
Once you’ve picked a social media platform, it’s time to decide what content you’ll use to engage with your audience. This content will serve as the skeleton for your campaign. You don’t need to have all of this content up and running before you launch your campaign. But you should have enough content to get the conversation started, and to keep it going. Think about the type of users you want to reach, and what they’re interested in. Once you have this, you can decide what content you’ll use to reach them.
So, before you begin creating content, it’s important to come up with a clear objective for your campaign. Decide what you want the outcome of this campaign to be, and create content with this goal in mind.