Tuesday, September 24, 2013

Why You Should Be Using Targeted Marketing

It may very well be that everyone is a potential customer, but not everyone is going to be your customer. In point of fact, the vast majority of people will never be your customer. This is not a bad thing and can actually work to your advantage. In the first place, your business probably lacks the resources and infrastructure to provide high-quality service to more than two or three times the number of customers you have now. You probably also haven’t built your business to scale-up in a hurry, which means a massive, sudden influx of customers is more likely to overwhelm you than help you. Just as important, the fact that your business probably serves a specific group means you can engage in targeted marketing.

The heart of targeted marketing is honing in on that very core of your customer base and increasing the number of customers who fit into that profile. Those customers are your core because you serve them very well and they know it. They come back to you because you meet their needs time and time again. Expanding your customer base in this core area makes sense because you aren’t just bringing the one-time bread and butter sale. You’re bringing in people who will buy from you year-in and year-out. Growth in this core customer base helps to secure your business over the long-term.

Targeted marketing also makes sense financially. Trying to market to everyone is cost prohibitive. It encompasses too many media outlets that will ask far more than you can reasonably afford to invest. When you target your marketing to meet the specific profile of your ideal customer, it eliminates most of the possible media outlets and lets you pick the very best choice from a small pool. It also means that you’re getting your message in front of a select group of potential customers who have a high probability of needing what you have to offer. The individual costs for placing an ad or delivering marketing collateral may be higher, but the overall costs tend to be far lower and manageable.

Targeted marketing helps you to grow at a sustainable rate with the kinds of customers you already serve well. Rather than trying to find ways to serve customers your business isn’t really built for, you can jump straight to providing the kind of top-tier service your business is built to give. Tier 3 Marketing understands the importance of targeting the right customers and can guide you through both demographic and geographic targeting.