When it comes to marketing, if you try everything, you will have a hard time reaching out to anyone. Therefore you can try targeting. But what is targeting meaning? Targeting in marketing is important because vague and generic messages fail to engage with audiences as compared to targeting.
Let’s us understand targeting meaning and how to use it to grow your business, in this guide.
What Do You Mean By Targeting?
Targeting is a marketing approach that divides a massive market into smaller groups. This is done to focus on a specific segment of that audience. It also develops a customer niche based on its distinct features and caters primarily to them.
Instead of attempting to reach the whole market, you can utilize target marketing to focus its efforts on a specific, specified segment of that market. The main elements of market segmentation are as follows:
- Demographic segmentation
- Psychographic segmentation
- Behavioral segmentation
- Geographic Areas
Let’s discuss these in detail further:
Elements of Marketing Segmentation
These are some of the marketing segmentation that you can consider while targeting your audience:
The demographic market segmentation solely concentrates on who the customer is. The demographic traits mainly consist of age, education, gender, occupation, family status, and income.
This is a popular segmentation used in market research to figure out who a company’s primary target audience is. This information is also easily accessible. All you have to do is pull census data to get this information. As an entrepreneur, you can use this information to target different genders, age groups, and income levels with their brand. This has also proven to be a valuable method of market segmentation because it allows you to respond directly to your customers’ demands and needs.
The goal of psychographic market segmentation is to split the audience into groups based on their personalities. Lifestyle, attitudes, interests, and values are some of the characteristics that make up this segmentation. However, because determining demographics based on personality is difficult, extensive research will be required for this type of segmentation.
Despite the fact that this market segmentation is tough to implement, many companies think it can result in high yields. When you adapt your marketing to a person’s personality, it’s more likely that those who see it will become increasingly loyal to your brand.
Behavioral segmentation is a marketing technique that splits customers into groups based on their behavior patterns when interacting with a company or website.
Customers could be divided into segments based on:
- The opinions of your product, brand, or service; their use of your product or service; their general understanding of your brand and its products.
- The buying habits, such as buying just on special occasions such as birthdays or holidays, etc.
- Using behavioral data alongside traditional demographic and geographic segmentation will lead to more successful marketing initiatives.
- At the very least, behavioral segmentation provides marketers and business owners with a better understanding of their target audience, allowing them to customize products and services to specific client needs.
Geographic market segmentation allows you to effectively separate your whole audience based on their location, which is essential when clients’ location influences their entire purchase decision. The key qualities and segments that you can use to estimate geographic segmentation are region, continent, country, city, and district.
Since you can influence customers at least in part by where they live, this is a very popular sort of segmentation. It’s also a great option for small companies on a small budget. This information helps you manage your resources efficiently if your core geographic group responds better to online marketing than TV and print commercials.
Market segmentation is crucial because it helps you better understand:
- Who your target audience is,
- What your business goals should be,
- How you can structure your marketing campaigns.
Therefore, since you know the targeting meaning you can use targeting instead of addressing a mass audience.