Target market segmenting can be very cost-effective when you separate your potential and existing customer lists and target the message to motivate each segment individually. If you don’t think it really works, check out Meg Whitman’s marketing campaign for California Governor. She outspent every candidate who ever ran for office with $141 million of her own money. With that money she could target each segment of the population with a message customized for them. Although she didn’t win the election, she managed to be a viable candidate against a career politician despite her lack of experience by gaining market share and brand recognition (she being the brand). The messages she delivered to each segment was what they cared about most, and portrayed to them that she shared their priorities.
You don’t have to spend $141 million to execute the same strategy for your company. Many media and online options allow you to segment your market in a very cost-effective way. Imagine what your company could do if you identified segments of your market and targeted those concerns and hopes when it comes to your product or service? This segmented marketing means you can get your message across to different demographics and appear to be saying exactly what each market is looking for at the exact time they’re looking.
However, to be successful, you must first define the needs of each segment and then get your message to them in a format they prefer. If they are known to listen to the radio, you are there. If they download a certain podcast, there you are again. And if they read a particular publication or take a newsletter or watch a specific program, there you are again. And don’t forget email marketing and social media, where you can specifically target any group and make sure your brand is in front of them while they are surfing the web or reading their email. Remember also that is often done several times a day.
This type of micromarketing for a specific group lets you buy a mind share for that type of individual. For more information on how your company can define and target your highest potential consumers, visit our website or contact us at (310) 790-6300.
