4 Target Marketing Techniques
Posted: Thu Jan 23, 2025 5:48 am
The specifics of targeted marketing have been studied by advertising experts for many years, which has allowed them to formulate general recommendations for its implementation:
The basis should be a detailed marketing campaign plan. When drawing it up, the needs of potential buyers, available opportunities, and priority market segments should be taken into account.
Market niches should be truemoney database pre-evaluated for the number and activity of competing firms . Taking this into account, either a segment in which competition is minimal should be selected or an effective and original advertising campaign should be developed.
In this part of the market, it is desirable to find opportunities that allow it to be expanded by involving new consumers, who should be targeted when promoting products.
Merging market segments . Can be used when a company has a product to sell, but does not have a well-established sales system, and there is an opportunity to cooperate with another company that has the necessary tools and resources to bring it to market and conduct targeted marketing.
Targeted marketing is good because its costs are lower than mass marketing, so you can start implementing it immediately after choosing your segment.
Read also!
"Company Marketing Plan: Short and Detailed Versions"
Read more
3 Mistakes in Measuring the Effect of Targeted Marketing
When evaluating the results of targeted marketing, managers often make several mistakes:
There are no criteria for evaluating effectiveness.
In this case, irrelevant parameters may be involved, which will affect the evaluation of results and prevent you from getting an adequate picture of CRM marketing.
The main criteria used are characteristics that do not have a determining value, for example, the number of clicks, the percentage of transitions to the site.
These parameters, along with some others, are important for assessing the effectiveness of the specialists responsible for the advertising campaign. However, they do not provide an idea of the amount of income or whether there is a profit.
Mistakes in Measuring the Effect of Targeted Marketing
When evaluating the results of direct advertising, the results of using other promotion tools are not taken into account.
The high efficiency of this type of PR may be a consequence of so-called cannibalization, which distorts the results of targeted marketing. Let's consider this situation using a specific example.
The company had an influx of requests due to clicks on links in materials viewed by users based on search engine results. Then this influx decreased, while an increase in clients via a link in a letter sent by e-mail was noted. Due to this, the number of requests from SEO promotion decreased.
That is, CRM marketing has not become worse, it’s just that the ratio between different promotion tools has changed in the number of attracted consumers.
2 ways to correctly calculate
The basis should be a detailed marketing campaign plan. When drawing it up, the needs of potential buyers, available opportunities, and priority market segments should be taken into account.
Market niches should be truemoney database pre-evaluated for the number and activity of competing firms . Taking this into account, either a segment in which competition is minimal should be selected or an effective and original advertising campaign should be developed.
In this part of the market, it is desirable to find opportunities that allow it to be expanded by involving new consumers, who should be targeted when promoting products.
Merging market segments . Can be used when a company has a product to sell, but does not have a well-established sales system, and there is an opportunity to cooperate with another company that has the necessary tools and resources to bring it to market and conduct targeted marketing.
Targeted marketing is good because its costs are lower than mass marketing, so you can start implementing it immediately after choosing your segment.
Read also!
"Company Marketing Plan: Short and Detailed Versions"
Read more
3 Mistakes in Measuring the Effect of Targeted Marketing
When evaluating the results of targeted marketing, managers often make several mistakes:
There are no criteria for evaluating effectiveness.
In this case, irrelevant parameters may be involved, which will affect the evaluation of results and prevent you from getting an adequate picture of CRM marketing.
The main criteria used are characteristics that do not have a determining value, for example, the number of clicks, the percentage of transitions to the site.
These parameters, along with some others, are important for assessing the effectiveness of the specialists responsible for the advertising campaign. However, they do not provide an idea of the amount of income or whether there is a profit.
Mistakes in Measuring the Effect of Targeted Marketing
When evaluating the results of direct advertising, the results of using other promotion tools are not taken into account.
The high efficiency of this type of PR may be a consequence of so-called cannibalization, which distorts the results of targeted marketing. Let's consider this situation using a specific example.
The company had an influx of requests due to clicks on links in materials viewed by users based on search engine results. Then this influx decreased, while an increase in clients via a link in a letter sent by e-mail was noted. Due to this, the number of requests from SEO promotion decreased.
That is, CRM marketing has not become worse, it’s just that the ratio between different promotion tools has changed in the number of attracted consumers.
2 ways to correctly calculate