The marketing world can be a tricky place, especially if you head into each new campaign not really knowing who your customers are.
Fortunately, targeted marketing can help you hit the mark with each new campaign you release.
With bulls-eye campaigning in mind, here are just a few reasons targeted marketing is so important for your business:
Finding your ideal market
The first step of customer outreach is finding your ideal market, which is something targeted marketing can help a great deal with.
By targeting your current customer sales data, you can quickly get an idea of which types of customers buy certain products and which don't.
Whether you break this customer data down into buying trends or demographics, tracking purchase histories will reveal your ideal market. If your current data doesn't provide enough insight, you can try implementing customer surveys or loyalty programs into your marketing endeavors.
Once you've found your ideal market, you can then segment your customers and create targeted marketing campaigns that cater to their specific wants and needs.
Evaluating the competition
When it comes to improved customer outreach, it's also wise to keep an eye on the competition.
As the article, “Targeted marketing using current customer information and activity” looks at, it is a must, but taking advantage of the competition's marketing practices will also lead to helpful insights.
To truly gain insights that will help you better target your own customers, you need to evaluate competitors that are similar to your own business. From there, you'll want to pay attention to the competition's sales, including the specific products and services they offer.
Which products seem to fly off the shelves and which don't? What kind of customers are they targeting in their marketing campaigns?
By evaluating and making connections with the competition's marketing and sales information, you can improve your own marketing tactics.
Identifying niche audiences
Sure, your business probably caters to a specific type of customer, but that doesn't mean there's only one type of customer you do business with. By targeting your marketing campaigns, you can better promote your products and services to niche audiences.
No matter how large or small your business is, there's a good chance you have a number of customers that don't really fit in any marketing category.
Targeted marketing makes it possible to segment these niche customers and properly cater to their interests based on past purchases and other demographics.
Keeping up with trends
Although your customers might like certain products and services now, their interests may and probably will change in the future.
With a targeted marketing plan in place, your business can stay up to speed with specific customer trends and adapt accordingly with updated marketing techniques.
Avoiding marketing errors
Sending the wrong promotion, creating misguided campaigns, and targeting the wrong audience are common marketing errors. However, by using targeted marketing campaigns, your chances for making marketing errors drops drastically.
Because targeted marketing uses data based on specific customers and consumer groups, marketing campaigns are more accurate than blanket, generic campaigning. This leads to increased click through rates, open rates, and sales.
Before you unleash your next marketing campaign, consider the advantages that targeted marketing provides.
About the Author: Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including online marketing and data analytics.