This is the second in a two part post on why good target marketing is critical to business development. In a previous entry, I identified 5 advantages to being good at target marketing. Here are another 5.
When developing a company marketing strategy, some small business owners consider target marketing counter-intuitive. They view it as limiting their sales revenue growth.
However, target marketing isn’t a constraint on sales. It doesn’t suggest you walk away from a sale. It’s about directing marketing efforts toward prospects that have potential. It’s about making the most of limited resources.
Better media selection. Advertising in print media requires a sizable financial investment. Marketers can’t optimize print advertising without a clear definition of the target market. The good news is that most media outlets are very targeted. This helps find appropriate publications and web sites. And the same holds true for PR. Before distributing a press release, understand your target audience. Then match media outlets to your business goals.
Make better decisions about which social media channels to participate in. Small business owners can over-extend themselves by participating in too many social media platforms. A better definition of your target market will help you be selective. Participate in the platforms where your target market spends their time.
Improved “voice” in your marketing tactics. How well do you know your audience? I recommend you know them well enough to understand how they like to converse. This is the “voice” you use in your integrated marketing communications. For example, if you’re selling strategic human resources consulting services to Fortune 500 clients, you don’t want to use a casual voice. Be concise, to the point and professional in how you write. On the other hand, if you offer pet grooming services to home owners, your voice can be casual, friendly and helpful.
Engaging blog posts. Bloggers choose their topics carefully. They are in tune with their target markets’ most pressing needs and challenges. So they can select topics that engage customers with their brand.
Better prospecting searches on platforms like Sales Genie and Hoover’s. Business developers won’t get very far with purchased leads unless they can articulate the profile of their target market.
Defining the target market links directly to more focused, effective business development. If you think there is room for improvement in how well your organization markets itself, take a look at how well-defined the target market is. For tips on how to identify your target market, check out this blog post on marketing strategy. Better yet, give us a call.