Good targeting is fundamental to your business development plans, because it’s key to making your marketing cost effective.
If you target the right people, even with a poorly written message, you’re more likely to get a better return than sending a carefully scripted one to the wrong ones.
Follow these three simple steps to better targeting:
- Decide what to focus on
Start by deciding what proportion of your budget should be directed at a national, local, and/or niche target audience.
- Clarify exactly who your most profitable customer segment is
These are the 20% who deliver 80% of your profits. And once you’ve worked this out create their profile so as to develop a better understanding of who it is you’re targeting.
- Then use your database to work out if this 20% primarily comes from within one demographic segment, or is split
- Baby Boomers (born between 1946 and 1964)
A good marketing tip: test direct mail.
Why? Because most boomers still open and read most of the post they get. So, of all the demographic segments, this is the one where you should get the most cost-effective response.
- Generation X (born between 1965 and 1980)
A good marketing tip: keep your message crystal clear and benefit-led.
Why? Because the Gen Xers typically grew up independent and self-sufficient; which fostered a generation of consumers who tend to want authenticity and clear-headed marketing without any fuzzy logic. They simply don’t have the time for it.
- Millennials (born between 1980 and 1995)
A good marketing tip: consider investing in quality IT infrastructure.
Why? Because this will deliver against their expectation that buying something digitally is probably going to be quicker, easier and better value.
- Generation Z (born between 1997 and 2012)
A good marketing tip: explore video content
Why? Growing up in the digital age, being able to visually engage with a brand on a more personal level is likely to appeal over more traditional static content.