A targeted marketing plan is at the heart of every successful business. Think about it; even if you created a magical elixir that rivaled the fountain of youth, you wouldn’t have customers unless you find a way to tell them it exists. Unfortunately, the right marketing plan requires more than screaming out to the world that your product or service is available. You need to get the word out to the right people (aka customers who would benefit by using your product).
To create a targeted marketing plan that’s uniquely suited to your business, you first need to identify the types of marketing/advertising available. Later, you will determine which of these methods will most likely reach your potential customers.
The options for marketing are as widely varied as the types of businesses that exist. However, not every technique is created equal, and not every advertising style will work for your unique business. There are two main categories of advertising, each with their own benefits.
Forms of traditional marketing generally include advertising types that have been proven effective for decades. These advertisements reach out to consumers in their homes, cars, and public places they frequent. While there are many modern forms of advertising, these techniques are still effective in today’s market. Some forms of traditional marketing include:
Television – If you have the funds, broadcasting with TV advertising has the ability to reach a wide number of consumers.
Radio – Before you dismiss radio as an advertising medium of the past, consider this: It’s still the third most powerful form of advertising in the U.S., only following social media and TV.
Billboards – It’s impossible to deny the impressive size and noticeability of billboards. If you’re located in a high traffic area, your advertisement is automatically available to countless potential customers.
Print – The written word in newspapers and magazines offers a solid trustworthy advertisement that many people associate with trust. A hard copy advertisement also has the distinct advantage of laying around for months.
Today’s technology offers up a variety of digital advertising techniques. The use of smartphones and other mobile devices have created an explosion of digital choices for advertising your business. In 2017 a report concluded 9 in 10 Americans are online and 77 % own smartphones making it easier than ever to reach out to millions of potential customers. Digital marketing is a powerful tool with some form including:
Email – Targeted email newsletters and sales announcements are a great technique for targeting return customers.
Social media – If you already have a large following on social media platforms, your audience becomes a natural sales team.
Search Engine Optimization (SEO) – More consumers than ever are shopping online. Proper SEO ensures your product will be among the top choices to show up when potential customers search for a product.
Content marketing – Content marketing draws customers in with a story that helps them identify with your product or service.
Search engine marketing (SEM) – SEM is similar to SEO. However, SEM is the act of purchasing ads on popular search engines.
How to Determine which Techniques Work for You
Most businesses can’t afford to use every single advertising technique available. Besides, it would be a waste of time and resources to target every type of market. It’s unlikely that your product will be used by every type of person. Therefore, it’s best to use your valuable resources on the consumers most likely to become buyers.
Identify Your Audience
Before you create a marketing strategy, it’s important to identify your potential customers. In a business, it is your goal to target your ideal customer. This is a representative idea of the type of person most likely to buy your product or service. All of the people that fit into this category are your target market. To identify your target market, consider which qualities will help you reach them. For instance, what age group do your potential customers generally fall into? Consider the lifestyles they lead, if they are parents, what’s most likely to be important to them, and where they’re located. Most importantly, consider what your ideal customer needs right now.
Learning these facts can help you decide which type of advertising will be most likely to reach your target market. It can also help you create a personalized advertising system that will speak directly to your ideal customer.
Combine Advertising Techniques to Target Your Ideal Customers
Knowing your ideal customer will allow you to understand how they are most likely to learn about your business. A combination of techniques is usually the best way to cast a wide net. However, it’s important to choose wisely which types of advertising work best for your chosen industry. Use the following steps to help you choose the marketing strategy most likely to help you reach your goals.
To narrow your choices, study your competition. Look at successful businesses who offer similar products and learn about their marketing techniques.
Consider what is unique about your product. Use this quality to highlight your advertising campaign and pull ahead of the competition.
Create short and long-term goals. Using specific numbers will help you decide how to start your marketing strategy off on the right foot.
Understand your marketing budget. Most fledgling businesses only have a limited amount of money to spend. Consider the exact amount you can use each month on your marketing campaign.
Try again. A marketing plan isn’t a sure shot at making your business a success. If your first attempt doesn’t succeed, don’t give up. Research what tactics are working and eliminate the ones that aren’t. Consider new ways to reach your target audience that you haven’t tried before.
A strong marketing plan is essential to helping customers find your business. The world is changing every day and there will always be innovative ways for savvy marketers to reach customers who need them most. For more great ideas about how to promote your business, schedule a consultation with Geary Company today.