Wednesday Roundup: You’re not Target Marketing
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Are You Marketing, or Target Marketing?
There is one mistake that every single business owner makes at some point in their life. I made it with my first business ventures (part of the reason that they didn’t last), and I continue to see it whenever I go to networking events, or hear from people in a business group. That mistake is not narrowing their target market down enough.
How many times have you talked with a friend, acquaintance, or someone you just kind of know about a business they are starting up, and you ask them about who they plan to market to? How many times have you heard an answer like this, “My product is for everyone, if you have a pulse, then it’s for you!”? Not targeting kills that business long before it even gets off the ground.
But how do you get started target marketing?
Why Should You Target Market?
Before we look at the how, we need to look at the why. Let’s suppose you sell widgets, and you believe that there are 100 million people in the US alone that need widgets. You think that capturing just 1% of that market, with a $20 profit per widget will land you $20 million. Not bad. But too bad that it doesn’t work that way.
One of the first times I read about target marketing, or niche marketing or niching down, was from Ramit Sethi. He explained what so many marketers do calling it Chinese math. Take a look at his post with a great case study on how driving down your niche can help you raise your prices and make the sale easier.
Seriously though, if your target is everyone, then you’re setting yourself up to fail. Bring it in closer.
Using Targeted Content Marketing
Here at Sery Content Development, we are all about content marketing. But there are two things that need to be done. First, the content has to be targeted in order to blow away the reader’s questions and fears; second, the content has to be promoted to a highly targeted market. There’s actually quite a bit that goes into it
Fortunately, there are people out there that have waded through these things, and they have tips for the rest of us. Introducing Ron Sela. Ron has some amazing insights into marketing, target marketing, and how to drive people to your site (and get them to convert). This isn’t fluff, and you might have to read it a couple times (taking notes) to really get all the finer points. Fortunately when you have these things down, then the title of 5 Easy Steps for Leveraging Targeted Content Marketing makes sense: these are easy!
Your Easiest Sale is…
…to someone who already knows you. Now this doesn’t mean you should be selling to your friends and family (unless you have a product that actually benefits them). Instead, it means selling to people who have already taken the time to come to your website. They know you, they have heard from you, and they trust you. Now they need a nudge in the right direction.
This is called retargeted marketing. Retargeting is a great way to help those who were on the fence make a decision, but it’s a bit more than shooting them an email with, “Hey, you ready to buy?” There are some specific steps to take so that you’re capturing the audience’s attention, but not with the same content that didn’t inspire them to buy the first time around. Check out Jennifer Wong’s post that lays out 5 Little Known Strategies to retarget the right way.
Target Marketing with Facebook
So you have great content that answers your customer’s questions (before they know they have those questions). Now you need a way to get it in front of them. Posting it on Twitter is a start, but most stuff on Twitter gets missed. You need to target your ads, and a fantastic place to do that is Facebook.
Facebook makes it easy for you. You can finely tune your target market down to some very specific details. Your ad is only shown to people that have a need, have the means to buy, and have an interest. Naturally some A/B testing is in order to see which wording works best, and naturally you need to read Adomas Baltagalvis’ article on how Facebook allows detailed targeting. It doesn’t get much simpler than how it is laid out in that article!
Targeted Marketing Made Easy
You have an important message. Now you need to make sure the right audience sees that message. Once you put your targeted marketing plan into play, it’s going to work for you. Little tweaks here and there will make it work even better, and in the end you will have a fantastic marketing plan that works hard for you.
Of course if you don’t have time to deal with writing highly targeted content, and you can’t be bothered learning about Facebook’s detailed targeting, and you have no interest in going through the process of retargeting. Well, in that case there is a company called Sery Content Development that can do that for you.