What is Targeted Marketing and Why Is it Important for Business?
There is a thing with online marketing of products and services since both large and small businesses are placed on level ground. Today, marketing efforts have shifted from the traditional physical marketing to one that is virtual, but the stakes of customer inquiries that lead to a business remain the same. 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. This shows us how inefficient and ineffective traditional marketing strategies are. A target marketing strategy will benefit a business more since you don’t advertise randomly, but to a choice group which are already interested in what you are selling.
It allows you to focus on specific consumers and prioritize these types only. It is better to direct your marketing message if you have a more manageable segment like geographical, product type, demographic, and others, rather than addressing your marketing messages to the public.
Building your marketing calendar around seasonal offers is possible if you have a targeted market. For seasonal marketing campaigns you will know whom to target if you already have a segmented list. You will incur a lot of costs if your marketing efforts cover the entire year. If a company does target marketing they save marketing dollars on seasons when they know that their target market is not buying and they don’t also waste their marketing money on people whom they know will not be interested in their products.
The results yielded by target advertisements are higher for a lower cost since you know more about the behavior of your target customers, and you also have a higher return on investment on your advertising dollar.
If you want to increase your conversion rate, then you need to focus your marketing strategies on people who have shown interest in buying your products so every marketing dollar should be spend on these types of customers instead of following the traditional marketing strategy of marketing to no one in particular.
Let’s face it, the majority of people put their lives on social media platforms on a daily basis. These people post just about anything about themselves such as demographic, job, education, address, interests, etc, are all on their profile. This is making it much easier for any marketer to target their exact audience while at the same time being more creative in their approach.
Target marketing or selective market is the best and the most cost efficient method of filtering out the customers that you can serve the most with your products or services. It means tailoring your messages to a specific audience directly to enable them to engage with your marketing efforts and over brand.
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