Expert Advice for a Successful Target Marketing Strategy

Let’s say you wanted to buy a cake and had a choice between two different bakeries. One bakery has been around longer and makes a cake that tries to appeal as many people as possible, resulting in a cake everyone thinks is average but no one dislikes. The other bakery makes a more niche cake, but those who like it swear it’s the best cake ever. 

Which one do you visit?

If you like the look of the niche cake, you choose the second bakery, right? That’s because their target marketing strategy worked to find an audience they connected with. But how can you implement this in your marketing strategy?

Well, you’re in luck. We’re here to give you expert advice for a successful target marketing strategy! So without further ado, let’s begin!

Staying Ahead of the Curve

One of the first things you should do when building your target marketing strategy is to look at what your competition is doing and see how you can separate yourself from them. Try to research what niches they’ve carved for themselves. 

For example, let’s say you were trying to start a dog grooming company. If all your competitors focus more on bigger dogs, you could gear your business more towards small dogs.

By differentiating yourself from your competitors, you’re more likely to stand out and not get lost in the shuffle of companies. Plus, you can pull customers in that your competition wasn’t appealing to.

Want a Target Marketing Strategy? Find Your Target Audience

To find the target audience for your company, there are 4 primary factors you can use. The one most companies use is demographics. This involves separating by people by attributes like age, gender, income level, family size, and more. 

Chances are your marketing team already uses this to some degree. After all, things like marketing expensive sports cars to people on the lower end of the income spectrum is not going to get you a lot of sales. 

That said, you can also use demographic data to inform how you are getting your marketing out. Tricks like working to send a press release or doing a TV commercial will reach a general audience. But (for example) if you wanted to make sure younger people saw your ad, you’d get ad space on social media sites like Twitter or Instagram. 

The second factor you can use is geographic. This factor looks at where people live concerning the climate, how many people live in a certain area, and so on. With this, you can help tailor your goods and services to communities where a need for them is greater. After all, tech companies like Apple are going to pull greater numbers in urban areas where mass technology use is higher than in urban areas.

Finding Your Target Audience Part 2

The third factor you have to use is psychographic. With this factor, you research the belief systems and values that your consumers hold in an attempt to figure out the best way to market to them. “Belief systems” isn’t limited to religion, either: political and social ideologies like environmentalism or neoliberalism can also get tapped on to produce more clients.

Take local natural food stores for example. By getting produce from farmers in the area, they can build this atmosphere of being part of the community and help them seem more down-to-earth so they can attract customers who value supporting local businesses.

The final factor rests with looking at the behavioral trends of your consumers. How familiar are customers with you and your product, and what do they tend to gravitate towards? With over 80% of Americans practicing brand loyalty and over 60% of companies getting their main business from primary revenue, it’s in your best interest to find these trends and latch onto them.

Something that may help you when considering your target audience is to try and build a picture of the ideal client in your head. Ask yourself questions about this client.

What attributes do they have? Who do you enjoy working with?

Once you’ve got the profile set up, you can use the data you gather from the 4 different factors to get a clear client base to aim for.

That said, you can also focus your company towards tailoring your approach to the specific customer rather than a general group. While this process is more expensive and time-consuming, you’ll find that you will build the best possible connections with customers when you tailor to their needs alone.

Doing the Calculations

Once you’ve determined who your target audience is, it’s time to work on catering your business to attracting said audience. We’ve already discussed catering what platforms your ads appear on to attract viewers, but you’ll also want to consider where your company is. Are you in an area where customers have easy access to your product?

Consider the price of your product too. Based on the audience you’re going to market to, the price will have to change. Marketing toys to 10-year olds means you can’t wave around $500 price tags and expect sales to come flooding in, after all.

Another area you should look at is the format and content of your ads. Different groups will find different images and tactics appealing, and figuring out how your company needs to design the ads to bring your target audience in is vital. 

During all this, however, keep in mind that you can also make the audience “cater” to you. Finding a target audience doesn’t have to mean remodeling your whole image to chase one particular kind of customer. Instead, you can try to see which customer fits the groove that your company has set the best. 

And the Money Rolls In

So there you have it! Now that you know all about how to craft a top-tier target marketing strategy for your company, you’re ready to get out there and bring in the big bucks! And for more on how to keep your business in top shape and other marketing strategies, check out the other articles on our blog!