All marketing is about segmenting your target market – drilling down on the segments that would be most suited and attracted to your product or service. Marketing to the masses is no more than hoping for the best.
This week I’m providing you with a mini training session on how to segment your target market, and then tailor your marketing campaign solely at a specific market to ensure you have their attention.
This is an extract from my online SMART Marketing course and workshops. In my online video driven training course, I take you on a series of workshops to creating your targeted marketing plan, using 7 easy steps. If you want to know more about SMART Marketing, click here.
This week’s mini-training also makes available a worksheet from one of the workshops (or what I like to call “fun-shops”!) in SMART Marketing. Get the worksheet here and then watch the video.
Segmenting your market in this way means that you have better analytics about each of the different market segments that make up your target market. You need the analysis to make better judgements about the types of messages that you want to broadcast to them or qualify their interest, or convert them into sales.
Having decided what is your general market (for example the general market for a legal firm might be “people in business who need legal advice”, as simple as that) you can break that market down into logical segments. In the case of the legal firm, these might be:-
- People in business who need advice about contracts;
- People in business who require representation in a litigation;
- People in business who need legal work on incorporation;
- People in business who are about to enter into a buy/sell agreement; and so on.
You can be as detailed or as wide as you like, as long as, first, the segments you choose are logical, and second, that they are as niched as possible. This allows you to be specific about the focus of your attention.
For each segment, specify the common characteristics that best describe that segment. In the above example, the segment of people in business who need legal work on incorporation might include the following characteristics:
- People between 25 and 45 who are starting business for the first time;
- They have accountants who recommended a corporate structure;
- Or they do not have accountants but on review of their information would be best in a corporate structure;
- They do not know how to incorporate a company;
- Or they have an idea how to incorporate a company but don’t want to spend their own time on it; and so on.
Once you have described the common characteristics of each segment, those characteristics should be showing you clues about what their specific needs are. Following the above example the needs of people in business who need legal work on incorporation might include the following:
- The need to get a bit of hand-holding through the process;
- The need to be shown how to do things or to have them done for them;
- The need not to spend time on “technical” things; and so on.
Having identified the needs of each market segment, you can tailor your marketing specifically at individual target markets. You can have a specific campaign aimed at “people in business who need advice about contracts” and a different campaign aimed at “people who need legal work on incorporation”. In this way, as you can see, you “hit” specific needs rather than hope that your overall message of being a good legal firm attract everyone.
If you haven’t downloaded your free worksheet, click here, and fill it in as you watch the video again.
If you want to know more about how this process fits into your overall marketing strategy, learn more about SMART Marketing – 7 Easy Steps To More Sales, and get your three freebies on How To Win More Customers By Pressing Their Hot Needs Buttons, How To Keep Your Customers Loyal By Lovin’ ‘Em To Death, and The 7 Easy Steps To Creating Your Targeted Marketing Plan.
Should you be reading this on one of my social media channels the links may not work in the social media post, so go to my website at teikoh.com and click on the link at the top to “Products”.