Why is Target Marketing important?
What is Target Marketing?
It is a way of focusing on a particular market – a group of potential customers and directing company’s marketing efforts to attract that target market. As a business, you would aim to formulate your strategies to attract your target market(s).
As small business marketing consultants, we understand that resources such as, time, money, and people are very scarce for owners of small businesses. As such, it is imperative to effectively utilise them through the right channels. This is exactly what we are aiming to do as a small business marketing consultancy firm by targeting a particular market.
Gone are the days when companies used to produce a product, and promote to a broad customer base with the idea of “more reach, more conversions”. It has become evident that customers dislike the idea of getting generalized, and potentially irrelevant promotions. Small businesses, in particular, should not waste their resources, trying to convince every customer to purchase their product / service. They should rather channel their resources to the high potential customers with a genuine interest in the company’s product / service, who are likely to convert.
Better understanding of your customers:
When you direct your focus to a particular group of customers, you tend to invest sufficient amount of time to get a better understanding of them. Companies could properly analyse customers’ purchase behaviour, and determine the driving factors to do so. Considering how dynamic the business environment is, it has been difficult for small businesses to keep pace with these changes. As experienced marketing consultants for small businesses, we would recommend directing your company’s marketing activities towards a targeted customer group. Doing so, you could still meet the evolving needs and wants of their customers.
Customer satisfaction and brand loyalty:
Once a company has a good understanding of their customers, they can look to offer a more personalised experience for their consumers. As mentioned earlier, generalised services are not as effective as they used to be. Having understood customer needs and wants, organisations now have the ability to tailor their services. As a small business owner, you are achieving the objective of making each customer of yours feel special. When it comes to seeking new clients, you are most likely to attract a potential customer who genuinely has an interest in your company’s purpose. Say, as you are an owner of a small business in Sydney, you have been seeking tailored marketing advice to get better results from your marketing activities. You are likely to see one of Little Marketing’s display ads while you are doing some online shopping. As Little Marketing is focused on providing expert advice to small business owners, our advertising efforts are most likely to seek out clients who are in need of just that.
As a result, customer satisfaction is achieved by providing value for clients’ time and money, which is the cornerstone for building customer loyalty. These loyal customers are the ones who would continuously generate revenue for your business, especially when your business is struggling to onboard new customers. A business’s reputation could be enhanced through loyal customers’ word of mouth when potential customers get to hear positive things from their friends / family who are your existing customers.
Whether you are small business owner who is looking to take your first steps in marketing your business or someone who has already done some marketing, and know what you want. Our dedicated Senior Marketing Consultants can help you in every way possible.
Take your first steps towards driving growth, and achieving your business objectives through our Sydney and Brisbane based marketing consultants for small businesses. To learn more contact us here today.