Are you a marketing or sales professional in search of fool-proof targeting methods in marketing that can help attract new prospects?
The following article features 5 great methods your team can implement in their online marketing strategy.
Who Are You Targeting?
A solid marketing strategy is the vehicle that will take prospects directly to your service or product offer.
Your marketing mix is the fuel that will supply that vehicle with the power it needs to find and reach your target segments.
But you can’t implement a strategy without first identifying your target segment.
Mass marketing, for instance, ignores segmentation as it presents the product to a mass audience in a generalized format. Although in theory this should result in a larger number of sales, it also tends to be less personal and tactics costly depending on the size of your business.
Differentiated marketing involves a series of separate product offerings created to target different market segments. This type of segmentation can help companies increase sales and market share, but each product requires its own specific marketing plan.
Last, niche marketing involves targeting a specific segment. Although this may be effective if you have a small company with limited resources, it can also make you vulnerable to any changes in demand.
Creating Your Marketing Mix & Targeting Strategy
Effective targeting methods in marketing require that you first develop a customized message for a specific group of potential consumers. Check out our article on how to develop that buyer persona here.
The marketing mix should be tailored to the needs of each segment that you choose to target. This “mix” is a combination of product, promotion, place and price.
Ask yourself the following questions:
- What is the ideal product for your target segment (what are its specific features, what problem does it solve?)
- What are some of the best ways to get your target’s attention?
- Where would your target shop for this product?
- What is the easiest/most convenient way for your target to purchase your product?
- What price would they be willing to pay for this product?
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Best Targeting Methods in Marketing
After you've answered your questions, you’ll need to collect some data to prove their accuracy. Data makes it possible for you to make more accurate and informed targeting decisions.
Audience or industry targeting involves serving ads to specific industry leaders (based on your lead list or their role/title).
Behavioral targeting allows you to select prospects based on their online activities (perhaps what actions they take on your site, the products they seem most interested in).
Re-targeting is one of the most popular targeting methods in marketing (a whopping 90% of marketers say so). These include those pesky ads that seem to follow you everywhere after you've viewed a product.
4. Cross device
Cross device targeting involves customizing targeted ads to prospects across different devices. Data is collected on how or when they use said devices, allowing you to re-target an ad on another device (such as their computer) after they've already visited your site on their phone.
Contextual targeting involves identifying what content your prospect is likely to consume and serving them ads that relate to those topics of interest. Marketers can bid on certain keywords and opt for their ads to be placed next to content that's relevant to their target consumer.
To choose the best targeting method in marketing you must first identify your target segment, ask yourself a few questions that’ll determine your marketing mix, and finally implement the most appropriate strategies that your budget allows.
Let us know in the comments below which method you like the best or, whether you’ve used one before!
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