What is Targeting in Marketing?
When trying to sell more of your products or services, who do you approach? Anyone? Anyone earning a commission on sales knows that it’s pointless talking to someone who is never going to buy. You don’t try to sell beef to a vegan.
Marketing to everyone wastes your time and resources but targeting people who are most likely to buy increases sales. Your target audience will be your most profitable market.
Targeting in marketing identifies your best, receptive target audience for your marketing messages.
You can then be specific in targeting audience benefits of your product or services in the words and images that resonate with them.
Few businesses have unlimited marketing resources, and those that do still want value for money, clear aims, and a worthwhile return on investment. How does targeting in marketing achieve those business aims?
Improve Your Strategy with Target Marketing
Improve Your Strategy with Target Marketing
Successful strategies on the battlefield or in the head office need real data and facts – not guesswork. Strategic planning needs a precise aim and focused objectives.
How to speak your customers’ language on your website, social media, and marketing campaigns.
You can produce content that is useful, informative, and desirable to your target market.
Identify what words and phrases your potential customers use when looking for you and your competitors.
You can skillfully position your advertising in the places where your customers hang out.
What is Geo-Targeting?
What is Geo-Targeting?
Every visitor to your website has geolocation tagged to them. Geo targeting presents each visitor with information relevant to their location. If you search for restaurants on Google on your mobile, you see restaurants near to your physical location. Geotargeting is about giving you relevant information tagged to your physical location or IP.
Larger brands want to include the whole world, but smaller brands use geo targeting to ring-fence their local market and exclude others. Geotargeting can do both – open up or close down, depending on your business need.
Everyone is familiar with Amazon – the brand is successful because it delivers everywhere. Amazon turns the world into a global marketplace giving small sellers in remote regions access to buyers around the globe. Amazon uses geo targeting to direct you to the right section of the business and highlights products accessible to you where you are. You can buy from an individual half a world away, but generally, most customers focus on their home market – geotargeting makes that easy.
Coca Cola has been refreshing the world for decades. When you log into their website, you get an experience tailored to your country. It’s subtle, but it makes you feel like the brand is accessible and speaking directly to you. That approach builds brand loyalty.
The primary reason for using geotargeting techniques is to increase the engagement of your potential customers with your message – website, blog post, or special offer.
Geotargeting tools allow you to:
Speak your customers’ language – if you are in the global marketplace, it makes sense that a customer viewing your website sees it in their first language.
Make it relevant – you might not want the whole page translated, but you can have the text reflect your customers’ location – references to local holidays, events, and special offers.
Exclude non-potential customers – why show your products to people who can’t buy them? There are restrictions on what products and services can sell in other countries, so it makes sense not to tease people with what they can’t buy from you.
Focus on a crowd of potential sales – inside a sports stadium, airport, or country fair. You have a large, local audience that you can target with a custom message about your products and services.
The target market and target audience sound as if they are the same thing. You will hear the terms thrown around as if they are interchangeable, but there is a subtle difference.
A market is a place where things are bought and sold. Your target market is all your potential customers – the people who buy your goods or services. They might not be your customers (yet), but they are the type of people who buy what you are selling.
An audience hears, sees, and experiences a show. You aim your engaging advertising messages to influence them to buy your product.
Does that mean that these people are the same group? They can be, your market targeting audience can be the same as the target market, a smaller segment of it, or completely different. Think about babies – they consume a lot of products like clothes, food, and diapers. Babies may be your target market for your product, but they don’t make the buying decision.
The target audience for baby products has specific groups – for example, young moms who are interested in saving the planet or adults in need of a christening gift.
Drilling down to the people who make the buying decision and spend the money gives you the target for your advertising message – the people you aim to reach and influence
Market segmentation is the process of dividing people into groups based on characteristics, interests, location, or a combination. Targeting is the process of focusing on one or more market segments with marketing messages for one or more campaigns.
The four stages of target marketing are: Segmentation – dividing the mass market into smaller sections. Targeting – choosing the market segments that are the focus of the campaign. Positioning – shaping how the product or service appears to the customer. Planning – formulating, designing, running, and learning from an ad campaign.
Think of the mass market as a giant collection of clothing buttons that need to divide into groups. You can make piles of two-hole buttons and four-hole buttons, sort them by color or use. You can sort and re-sort, depending on the criteria you use. The whole potential audience for an ad campaign can also group in broad sections and small sections. When you change the criteria, you change the number and type of people in any segment.
Segmentation aids in knowing the customer – what do they look like, what has life taught them, and what interests them.
b. Target Marketing
Decisions about what segments are worth targeting depend on resources available and the possible reward (more sales) versus the effort and probability of obtaining the outcome. Some market segments are more profitable, and some are easier to convert to customers.
Positioning is the process of reaching, attracting, and retaining the market target. Shaping the product, service, and marketing aims at convincing the targeting audience to bite -visit your website, click on an ad, buy a product, or download an app.
Target marketing is not a linear process; planning runs through every stage in setting the goals, deciding the process, and continually evaluating the results. Any marketing approach goes through cycles of collecting information, acting, reviewing, and repeating.