What Everybody Needs To Know About Targeted Marketing

Targeted marketing can have a significant impact on your business, the products or services you offer, as well as many other factors. Targeted marketing is a very essential part of any marketing plan because it sets into motion other parts included in the marketing plan, such as advertising and projected success statistics.

Here is all you need to know about targeted marketing and the large impact it has on your business as a whole.

Types Of Targeted Marketing

There are different ways you can decide what type of customers you want to target with your advertising campaign, depending on your products. Unfortunately, you cannot just target everyone when you want to push a product or offer a service. For example, if a doctor wants to promote the orthopedic services they offer, they need to have a specific target in mind to even start following the marketing strategies they want to incorporate. In the blog post ‘11 Smart Orthopedic Marketing Tactics,' the author states how geotargeting can work in orthopedists' favor if done right. Geotargeting is just one of the many tactics used in targeted marketing. This is why a successful marketer will target the desired demographic based on gender, age, geography, and income.

Effect Of Targeted Marketing Factors

Targeting a specific customer with these factors is quite important for the success of what you are offering.

Here is how each factor affects your production and marketing.

• Gender

Targeting a specific gender is important because if what you are offering is gender-specific, such as feminine products, you will gain very little addressing males. This works both ways because if a company produces male deodorant, their target customer is obviously going to be males so there is going to be no point targeting a gender that will not use the product.

• Age

Thinking about what age you are targeting with your products is essential because it will significantly affect your sales rates. Consider if you are planning on marketing a video game, you need to keep in mind that it will be played by a certain age, generally not exceeding fifty. On the other hand, if you are trying to sell a dollhouse, then you need to keep in mind that your target customer is three to twelve-year-olds. These are just some examples of things that have higher success rates when targeting the right age. If you think about it, no matter what a product or service is, they are offered to people of a specific age.

• Geography

As mentioned above, geotargeting is a must to be successful. Think of it this way, if you are advertising your products or services in a different country than the one you are in, you will not get as many customers as you would if you target the people around your place of business. You will want to target the potential customers closer to your points of sale. This is also important when speaking of smaller areas such as people in the neighborhood versus people across the city - in the case where the service you offer is only offered to a certain area. Basically, the place of your target customers is important to think about when you are trying to market your products or services.

• Income

If your products are premium ones and are going to cost a large sum of money, you would then want to target those of higher income. For example, if you are trying to convince people to invest in real estate or to buy an apartment in a building you own, you will want to target people who can afford to make the purchase. If you do not do so, you are going to be wasting resources that can be allocated elsewhere to make your business succeed.

After splitting people into groups or segments using these four factors, they are then segmented further based on psychographic factors such as their lifestyle and personality. These factors indicate how you can advertise your product the right way so that your target customers are influenced to buy them or even recommend them to others around them. The more targeted your approach with a campaign the higher the chance of securing a sale. It is always important to know your audience when advertising.

Now that you understand the impact of targeted marketing and how you can use it successfully to further your business and have higher success rates, you are ready to proceed with the campaign. Just remember to narrow down your target audience to get the specific customers, you seek to engage in.