Segmenting, targeting, and positioning is a classical marketing theory. You have understood segmenting theory. Now, I will tell you the next phase, namely targeting. Please enjoy this article below.
Lately, there has been increasing discussion about social media marketing. Some of them said that after persistently run social media marketing, their company is growing.
I have informed you how market segmentation strategy can improve your social media marketing in my previous article.
Let me remind you about segmenting. The success key in this phase is, try to find out what consumer really want. The passion of each consumer is different. By doing a research, you will find there are some of them have similar interest, similar behavior, similar need, similar want, etc. Afterwards, divide them in on group ( one segment ) and start providing them product or service that meet their expectation.
In marketing term, these groups is called target market. In social media marketing, these groups are basically termed target audience.
Target audiences may be describe as a relatively homogeneous group of consumer having similarity need or interest.
You can see the picture below. I show you one of FB ads activity to promote a business page.
The first thing you must define is audience. You have to choose your target audience. So, your message (ads) can be delivered to the correct people. This is a basic social media marketing concept.
Because this is a fundamental concept. Let me tell you how marketing segmentation is defined. According to Pride and Ferrell 1980: 147 ( see the e-book here ):
“Marketing segmentation is the process of dividing all clientele into groups that contain consumer who have quite similar interest and needs.
The goal of marketing segmentation is designing marketing mix which specifically matches the needs of member in those groups.”
Once you divide groups and evaluate them, now you can choose which groups you will sell your product or service to and which groups you will ignore. This stage is called “market targeting” in marketing term.
Suppose you have multiple products and sell to multiple groups, explanation below should be your concern.
To make you clear, please the picture below.
In the market targeting picture above, you can draw a conclusion that there are several steps must be done in targeting phase. They are:
1. Evaluate the segments.
Is this a correct target audiences?
Can you provide a solution to their problem?
Does your product or service match with their need?
Is the price profitable enough to sell to them?
How is the market share?
How is the competition in this market?
Is expensive enough to reach them?
Once you have evaluated the segment you target to, then start the next stage.
2. Plan and execute targeting strategy.
The thing you must focus is, try to link their need, their want, their interest, their problem to your marketing activities or marketing program like the sample in the picture.
I give market targeting strategy example in the picture above, namely customized marketing. There are more strategy you will find in the basic theory of market targeting, like: mass marketing, differentiated marketing, and concentrated marketing.
Concentrated marketing is performed if you have only one ( or some ) product or service to sell to one segment. So, your effort is only focused on this segment.
1. The more segmented your market, the easier you perform market targeting.
2. The more suitable market targeting you do, the more appealing your message ( your product offering ) to them.
3. By selecting particular segments and perform marketing activities to them ( ignore others ), you will get the power of focus and will achieve higher result.
The next discussion is market positioning, once I summarize the theory, I will write that in my blog.
Lately, there has been increasing discussion about social media marketing. Some of them said that after persistently run social media marketing, their company is growing.
I have informed you how market segmentation strategy can improve your social media marketing in my previous article.
Let me remind you about segmenting. The success key in this phase is, try to find out what consumer really want. The passion of each consumer is different. By doing a research, you will find there are some of them have similar interest, similar behavior, similar need, similar want, etc. Afterwards, divide them in on group ( one segment ) and start providing them product or service that meet their expectation.
In marketing term, these groups is called target market. In social media marketing, these groups are basically termed target audience.
Target audiences may be describe as a relatively homogeneous group of consumer having similarity need or interest.
Segment audiences before targeting
You can see the picture below. I show you one of FB ads activity to promote a business page.
The first thing you must define is audience. You have to choose your target audience. So, your message (ads) can be delivered to the correct people. This is a basic social media marketing concept.
Because this is a fundamental concept. Let me tell you how marketing segmentation is defined. According to Pride and Ferrell 1980: 147 ( see the e-book here ):
“Marketing segmentation is the process of dividing all clientele into groups that contain consumer who have quite similar interest and needs.
The goal of marketing segmentation is designing marketing mix which specifically matches the needs of member in those groups.”
Strategy of targeting market
Once you divide groups and evaluate them, now you can choose which groups you will sell your product or service to and which groups you will ignore. This stage is called “market targeting” in marketing term.
Suppose you have multiple products and sell to multiple groups, explanation below should be your concern.
To make you clear, please the picture below.
In the market targeting picture above, you can draw a conclusion that there are several steps must be done in targeting phase. They are:
1. Evaluate the segments.
Is this a correct target audiences?
Can you provide a solution to their problem?
Does your product or service match with their need?
Is the price profitable enough to sell to them?
How is the market share?
How is the competition in this market?
Is expensive enough to reach them?
Once you have evaluated the segment you target to, then start the next stage.
2. Plan and execute targeting strategy.
The thing you must focus is, try to link their need, their want, their interest, their problem to your marketing activities or marketing program like the sample in the picture.
I give market targeting strategy example in the picture above, namely customized marketing. There are more strategy you will find in the basic theory of market targeting, like: mass marketing, differentiated marketing, and concentrated marketing.
Concentrated marketing is performed if you have only one ( or some ) product or service to sell to one segment. So, your effort is only focused on this segment.
Summary
1. The more segmented your market, the easier you perform market targeting.
2. The more suitable market targeting you do, the more appealing your message ( your product offering ) to them.
3. By selecting particular segments and perform marketing activities to them ( ignore others ), you will get the power of focus and will achieve higher result.
The next discussion is market positioning, once I summarize the theory, I will write that in my blog.
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