What is Targeted Marketing and Why Is it Important for Business?
Marketing your product or service has never been so loosen up that practically any business enterprise large and small has been placed in a podium that is fairly level. The approach to marketing today has drastically changed from a more physical, traditional method, to a virtual one and so when customers inquire about a particular product or service that they need, every business will have an equal stake of reaching their real customers. There is then a great difference between traditional marketing and target marketing since in traditional marketing, you spend time sitting and waiting for customers to respond to your ads, while in target marketing generates the interest of potential customers. In other words, that shotgun approach to advertising in inefficient and ineffective. But putting your company on a better path by creating a targeted marketing strategy, contrary to the random type, will help you be in-front of an appropriate perspective customers.
In target marketing, you target a special group of consumers to which you will focus the attention of your business. When you have a more manageable segment such as geography, product type, demographic, etc. you can easily direct your marketing message better than when you are addressing the public.
When you have a targeted market, you can build your marketing calendar around seasonal offers. If you already have a segmented list, then you will know whom to target at different times of the year. Remember that it is costly to be maintaining a campaign the entire year. The advantage of companies using target marketing is that they save of marketing dollars on seasons when their targeted market are not buying and they don’t waste money on advertising to people outside their target segment.
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Another advantage of target marketing is that is has better results for a lower cost since you know your customers and you get better returns on your advertising dollars.
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Only people who has interest to buy your products can increase conversion and action so that it is only logical to center your marketing strategies and put every dollar to these consumers instead of going the pathway of most conventional business people who markets to anyone.
At present you see people putting their lives on social media on a daily basis. Many people in social media sites have posted many information about themselves including their demographic, location, job, education, interest and other things. With all this information in social media, it become easier for marketers to know whom to target their marketing efforts on.
When you have a targeted market, you can have a cost efficient means to filter out customers within a certain segment that your product or service caters to the most. It means tailoring your messages to a specific audience directly to enable them to engage with your marketing efforts and over brand.