Everyone is familiar with the saying “location, location, location.” In marketing, the same level of importance is given to “target, target, target.” Who are you targeting? And how well are you able to assess your database in relationship to your target?
The start of a new year is a good time to get back to the basics, including an evaluation of your database based on your ability to quantify and qualify the information contained in your records.
Target or niche marketing involves breaking a market into segments, and then focusing your efforts on one or a few of those segments. These segments can include:
Geographic: Where are your customers located? Whether your scope is national or regional, it’s likely that differences exist that are important for you to know and understand.
Demographic/Socio-Economic: If you’re a B2C (business-to-consumer) organization, understanding demographics is essential. Information such as gender, age, income, occupation, education, household size is invaluable.
Psychographic: At the same time you want to be careful not to get hung up on just the demographics. Used alone, they can create stereotypes. Psychographics include attitudes, values, and lifestyle; information that is equally important for you to be aware of. Utilizing psychographics along with demographics is a good way to expand your targeting and transcend stereotypes.
Behavioral: Behavioral targeting has proven to be a very successful approach for many marketers. This method of targeting focuses on a type of buyer who is segmented by their knowledge of, and then their response to certain products.
If you’re interested in learning more about how to develop and use your database for your marketing efforts, please contact ZOOM Cross-Media today. We’re working with clients to eliminate waste, speak more personally to their target segments, and identify new areas of opportunity.