Constant change in the digital environment means that target market interests are frequently changing in response to external stimuli. Appreciation of these changes must be updated to align with target audiences that are in flux.
Enter the innovation of audience targeting through geofencing and other digitally evolved strategies to capture focused markets, as a solution to deal with this moving ‘target’.
Target audiences in marketing are groups of people whose profiles can be closely matched with business offerings. Businesses typically engage in a process to define the target market clearly because these people will be more likely attracted to purchasing their products.
Marketers engage in strategies to define the ideal customer profile. Their needs, characteristics and behaviours are analysed through a procedure of segmentation to develop distinguishable profiles.
Once these profiles are created, campaigns are aligned with the 4 Ps contained in the marketing mix. The 4 Ps include the pricing, how the offering will be distributed and it’s placement, the product and how this will be promoted.
Advertising campaigns are designed to focus on delivering communications to the target audience. Communications have the express purpose of delivering messages designed to convert interest into purchases. Sending the right messages to the ideal group of defined people at the right time increases the potential for conversions and sales.
Advertising campaigns must be aligned with the right market if they are to achieve the desired outcome. Marketers use segmentation to attain detailed profiling to enhance campaign success. Segmentation takes place by analysing and defining demographic, psychographic, behavioural, geographic, and lifestyle information.
Demographic information refers to collecting statistical data related to customers. statistics about age, ethnicity, gender, professional status, income, education, and marital status.
Psychographic information is obtained by analysing consumer thinking and lifestyle choices. Their psychological processes, personal behaviours, social circumstances and preferences, and anthropological status in terms of purchasing habits is studied. People’s interests, viewpoints, perception of self, and needs are essentially observed to understand who will be interested in buying a specific product or service.
Behavioural insights are gained by studying how potential customers make purchase decisions. Influences such as brand messages, purpose for buying the product, attitudes toward various products and brands impact buying decisions.
Personal experiences following product use, history of purchasing behaviour and other factors help to understand the target audience and develop market segments.
Geographic details are recognised by consumer locations. Businesses will use location information to formulate product communications to reach audiences in a specific location within a city or country.
Observation of diverse languages, cultures, climates, and practices influence the marketing message depending on where the target audience lives.
All these factors play a role in creation of campaign messages. Customers living in cold climates will not respond as well to purchasing cold flavoured teas as those in warmer climates, for example.
Lifestyle information refers to people’s behavioural patterns. Customer values and personality tend to play an important role in how they live their lives, and what products they are likely to purchase.
Consumer activities, interests, and opinions (AIO) are combined to create the lifestyle segment, which is largely based on purchase history.
Understanding customers involves knowing their pain points. Pain points refer to the personal criteria that encourage purchases. These may include style, status, or self-value in relation to behavioural segmentation. Even when consumers do not need a product, successful Ad campaigns can motivate them to buy something they do not need.
Consumers typically want to purchase certain items to improve their lifestyles. Purchases such as washing machines, tumble driers, ovens, and televisions meet convenience needs. Marketers will then focus on brands and prices to further segment their markets based on price and status.
Determining pain points means understanding customer needs. Start-ups look for cheap resources to grow their businesses. Homeowners in the middle-income bracket often cannot afford interior design services.
Establish a market need and you will reveal a pain point. Focus advertising communications on solutions to fill this gap and you attract customers who want their problems solved.
Analyse what current customers purchase and look at what competitors are doing to gain further insight into market segmentation. Add all these elements together, analyse them and you are ready to plan a focused ad campaign.
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Target market audiences and segmentation are a lot easier in theory than in practice. Modern innovation has been harnessed by Fluid Ads to create focused campaigns that support better outcomes.
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