Targeting is the foundation of any highly effective marketing campaign. You must be familiar with your customer base and be aware of which demographics are a fit for various marketing strategies.
You may have previously thought that all targeted marketing was the same thing and that you only need to know your demographics to successfully utilize this tool. There are other factors in play when it comes to targeted marketing, however. It turns out there are different ways to slice and dice your list based on your marketing goals, but what does that look like? Here are four different ways to target your audience. Which approach might work best for your next marketing campaign?
1. Demographics.
Demographics such as age, gender, ethnicity, and household income are simple but effective to focus your messaging. Depending on who they are and what their lives look like, their needs will vary dramatically. For example, if you are selling jewelry, you might show different collections to different recipients based on household income.
Some incomes may be more of a fit for the less expensive jewelry, so it wouldn’t make sense to target that demographic with advertisements for your most expensive jewelry. If you sell automobiles, you’ll select other vehicles for those just out of college versus those married with young children. Most of the time, families will not be in the market for lavish sports cars.
2. Lifestyle.
Lifestyle data pools target audiences based on shared interests, such as fitness and wellness, green living, or pet ownership. Everyone has interests, and it may surprise you to know that many of these interests overlap amongst the population, even if their lives look nothing alike. Two people who look very different demographically may both love dogs or snowboarding. Two people who have otherwise widely varying lifestyles may both be avid moviegoers. There are many ways to get at lifestyle data, including magazine subscriptions and past purchases.
3. Life stages data.
Whether young or old, rich or poor, we face common life stages. For example, new parents deal with diapers, and recent college graduates need to furnish apartments. Retirees may be looking to downsize, travel, or invest in a lasting legacy. Targeting based on life stage is different from targeting based on age or generation in that two shoppers might be the same age but at very different stages in life. Everyone moves through life at their own pace and everyone has different experiences in life that shape them. These common stages we all go through in life can look very different from that of another who goes through them, however. For example, one might still be single and living at home, while another might be married and with young children. Even though they are the same age, their needs and priorities will differ. As such, targeted marketing for each of them will look different.
4. Past purchases.
We can infer a lot about someone based on what they buy. Our purchases outline the things we place value on in our lives as well as our potential hobbies and interests. You can also get an idea of how much money they typically spend on purchases. If they just purchased a new pool, they’ll likely be in the market for pool accessories, too. If they just purchased home improvement supplies, there’s a good chance they’ll be in the market for new appliances.
Want to learn more about any of these data types and how to develop campaigns around them? We want to exceed your expectations in helping you improve your business, so let us jump in and help.
