"Your target market is never going to be everyone. Segmentation and understanding who the consumer is could prove to be your key to success."
Your target market is a group of people you are trying to pertain as a customer and the more specific this group is, the more effective your marketing strategy towards this group will be. By being able to target specific groups, it is more likely your marketing strategy will resonate with them as the strategy itself will be specific to the targeted groups demographic, psychographic, geographic or behavioural similarities.
Segmentation is a way of concentrating marketing activities based on selected customers. In order for this to be effective, a brand must have a firm grasp of who exactly the target market is.
- Is your product something that is suited for middle aged men with a high income?
- Do you offer a service that is only offered in the South East Queensland region?
Segmentation can be even more specific by understanding the interests and personalities of your target market. Your target market will often have many segments within each market.
Sometimes, it won’t be until your marketing strategy is implemented and you begin to see results that you realise one of the main market segments interested in your product is one you had not suspected.
Why is segmentation so important? To ensure your marketing strategy is as efficient and effective as possible.
In digital marketing, this can be very effective when deciding on target markets in regards to demographics, interests and geographic location. Some people debate that segmentation is not as important with the strong shift to digital, however there are many reasons as to why it is quite fundamental for a successful strategy.
Online advertising is a large portion of digital marketing and the online tools that are available today make targeting the correct markets a much more feasible task. Tools like google analytics allow us to understand who is visiting your website, clicking your advertisements and following your posts. This allows marketers to gain accurate information and spend more time selling to people who are interested and less time on those who never will be.
“Segmentation is a natural result of the vast differences among people,” Donald Norman.
But how will understanding segmentation help me be successful?
By understanding segmentation and who your different target markets are, you can create marketing material to interest the audiences in these segments. Although your product or service may be of relevance to a number of target segments, the way the product is marketed to these different segments will differ.
An example of segmentation is for razors. Generally, male and female razors are very similar however the packaging and the advertising of the product are vastly different.
- Dark greys, blues and silver packaging
- Cutting Edge design and masculine feel
- Image of strong, fierce looking man with appropriate stubble
- Sports player promoting the razor
- Soft Pink and Purple colours
- Delicate, clean and fresh feel
- Image of woman smiling or laughing, looking relaxed and carefree
Marketing for both male and female razors associate ideas of vanity and sex however the way they go about selling these ideas and products is vastly different. For a product that is, for the most part, identical for both genders, the segmentation is both necessary and successful.
By understanding the segments within your target market, your marketing will be more efficient and evidently, more successful.
Marketing should make a person feel as if you are speaking specifically to them. By understanding and getting to know your market segments, this will make the road to success a smooth one!
Afraid you might have your segmentation all wrong? Maybe you still don't quite understand what we mean? Don't worry, we've got this. Contact us. It's what we do.