Have you ever played darts? If so, then you know that to win [hit your target], you will prepare your position, your movements, your throw… depending on the target you will aim for.
The same is true when you want to sell your products and services to the right person at the right time . If you don’t take the time to define your marketing targeting, how can you expect to reach your target!
In this article, we will present an approach for achieving effective marketing targeting based on your needs and realities. But first, let’s see what is meant by targeted marketing.
What is Target Marketing?
According to Professor Philip Kotler, there are four stages in the marketing process:
- The information research and analysis phase
- Strategic direction and action plan
- The implementation of this plan
- And the evaluation of the results.
The strategic orientation and action plan phase will make it possible to define all the marketing actions necessary for the marketing of your offer. To do this, it is composed of three steps: market segmentation (where the target market is identified), targeting and positioning (where the marketing strategy for the target market and the marketing mix are developed).
Marketing targeting is therefore the process of identifying and prioritizing specific groups of consumers who are likely to purchase your company’s products or services.
Why do you need to target marketing?
The goal of marketing targeting is to focus marketing efforts on customers who are most likely to purchase the product or service. Then, the idea is to develop a marketing strategy adapted to these people.
Indeed, by carefully targeting its marketing efforts, a company can save money and resources while achieving the marketing goals it has set for itself. One of the challenges of targeting is that businesses must balance appealing to a broad audience with directly addressing the needs of their target market. If you focus too much on one group, you risk alienating others. But if you don’t meet the needs of the target market, you risk losing sales!
How to achieve marketing targeting ?
Segment and analyze the market
Before carrying out marketing targeting, it is first necessary to segment the market . In other words, the market must be divided into smaller groups on the basis of common characteristics (criteria relating to attitude or behavior, demographics, geography, etc.).
Segmentation of the target market also gives the possibility of:
- Better understand and better respond to the needs of each group,
- Measure the results of marketing efforts more effectively,
- Create more targeted marketing campaigns that resonate with every group. For example, a company that sells sports equipment may target its advertising to women between the ages of 18 and 34 who are interested in fitness.
Define your target
Once this step has been validated, it is now necessary to target one or more specific markets. That is, a specific group of consumers within the broader market that the company hopes to reach with its marketing efforts.
This target market must be:
- A group of consumers for which the company has real competitive advantages .
- Large enough to provide significant sales volume.
- Accessible to the company’s marketing mix.
For example, a company that manufactures high-end luxury goods will target wealthier consumers who are willing to pay a premium price. In contrast, a company making cheap products will target budget-conscious consumers who are looking for value for money.
Some tools for effective marketing targeting
Finally, let’s look at some basic tools you can use to thoroughly target your selected market.
Marketing research : involves conducting surveys and focus groups with potential and current customers. This research can provide valuable information about what motivates people to buy certain products or services.
Customer profiling : This involves creating detailed profiles of your ideal customers for your product or service. To go further on this notion of ideal customer, you can consult our 8 steps to define your target customer.
Once you have identified your target market, you can then begin to tailor your marketing efforts to attract them. This may involve creating specific marketing campaigns or developing new products or services that meet the needs of your market.
Also Read: The 11 Commandments Of Performance Marketing