Working in today’s digital marketing landscape has become increasingly challenging. The markets are crowded, and changes are happening in an extremely fast pace. As marketers, we know that it is necessary to find a way to learn and adapt quickly. Otherwise, we will fail — as professionals or as businesses. However, there is one key component of any marketing strategy that is bulletproof: your customer.
It may seem obvious, but the truth is that the current times
require a much higher-level understanding of who your customers are, and what are
their needs, wants, and desires. And this goes way beyond demographics. It is
essential to dive deep into their biggest dreams and fears so you can develop
an effective marketing strategy that speaks to these very specific pain points
and transformation goals.
When you have this level of comprehension around your customers,
you will be able to craft the best offers that will turn them into raving fans
and will make them stick around for much longer. That is when the magic
happens: highly satisfied customers who are willing to buy repeatedly from you
and advocate for your brand and business. This is when you will see an increase
in your customer lifetime value and will be able to accomplish continued
revenue growth.
Targeting Strategy
Before you start working on the real understanding of your
customers, it is essential to take a step back and define who these dream
customers are, which target markets you should go after, and assess this
decision before moving forward. Some of the key factors to consider are the size
of the segment (is it large enough to be profitable?), the competition it faces
(how strong are your competitors?), and its alignment with your business’
overall goals (is targeting this segment compatible with your long-term goals?).
When you analyze different marketing campaigns from companies such
as LinkedIn, Hulu, and Clorox, it is clear that they target different market segments
and may have various lines of businesses to cater to them. LinkedIn, for
instance, the world’s largest professional network, runs ads directed both at
job seekers and advertisers.
Hulu also targets advertisers in addition to subscribers. And if
you are wondering if Clorox only targets women in their marketing campaigns, that
is not the case. Headlines such as “Cleans & kills germs: Helps build
business” show that their strategy and creativity go further than traditional
segments and that they also cater to business owners.
Booking.com is another great example of company with unique ad
campaigns running simultaneously but targeting distinct audiences. Besides
travelers (“Book the perfect stay with peace of mind”), they also promote their
services to hotel professionals (“Attract summer bookings”) and business
professionals (“All your company’s travel in one place”).
Standing Out from Competitors
The origin of these powerful headlines is in the company’s value
proposition. Many marketers underestimate the importance of crafting a well-written
value proposition, skipping this important step that dictates the entire
marketing strategy. The combination of what your customer wants and what you
are able to offer like no other business is what will help you create
outstanding marketing strategies to propel your growth.
Strong taglines such as Amazon’s “Spend less. Smile more.” or
Gillette’s “The best a man can get.” translate these companies’ value
proposition in an attractive way and reinforce the reason why their dream
customers should buy from them, and not from the competition.
The same happens with the creation of marketing campaigns. The
high-level understanding of your customer will come into play at the execution
phase as well, with the development of variations of ad creative and copy that
translate both the company’s positioning and the fulfilment of the client’s
desires.
By highlighting benefits (instead of features), showing the
removal of problems, elevating power-status, or providing sensory
gratification, marketers create opportunities to continuously drive customers
that are interested in each offer.
As Philip Kotler says, “Good marketing is no accident. It is both
an art and a science”. And it does take a lot of testing and optimizing to
create winning strategies. And if something doesn’t seem right, it is probably
time to revisit the initial definition of what your company is and who your
dream clients really are before going back to the drawing board of your ad campaigns.
Sources:
- Consumer
Behavior, Leon Schiffman & Joe Wisenblit, 12th edition, 2019.
- A Framework for Marketing Management, Philip
Kotler & Kevin Lane Keller, 6th edition, 2016.
- Facebook Ad Library
* Fernanda Almada is a digital marketing strategist with 15 years of
professional experience. She currently works as a marketing project manager at
a digital marketing agency in South Florida in addition to managing her own
online business. Fernanda has an MBA with a concentration in Marketing from
Nova Southeastern University and can be found on Instagram @fernanda.almada.
Creating a powerful value proposition for any business is certainly a key to a successful organization, but also create a level of brand/company loyalty. Apparel stores like Ross with its many competitors has quite a catchy slogan but also very meaningful of "dress for less". That simple sentence sums up what the store has to offer of providing clothes that you'll love for a better price. Creating that bond with your consumers to come back not only solidifies continued revenue, but also brings the opportunity of word-of-mouth being spread to bring customers you otherwise may not reach through advertisements.
ReplyDeleteAs a business knowing the target market for a product is one of the most important parts of marketing and advertising. Business need to make sure they are branding the product to the people who actually use. This article provides clear examples and strategies to help those looking for ways to better understand their market.
ReplyDeleteIt is so important to adapt to changing business. At times that does require redefining the target market and going back to the basics of identifying where business currently is, where it is headed based on the trajectory, and how that differs from the goal or ideal.
ReplyDeleteI would add that one way to successfully target one’s “dream client” is to position oneself there physically. For businesses where in person networking events help achieve that goal, networking in new circles or in circles where the “dream client” operates in could fulfill that. I agree with Kotler’s statement regarding marketing being both an art and a science. What makes the field of marketing so special is that individual experience helps contribute to that art and thus flavors the execution of the science.
Knowing your target market is essential for running a successful business as it is important to make products for the consumer and not find consumers for the products you produce. It's important to evolve with your customers and understand their mindsets to be able to adapt and relate.
ReplyDeleteI truly enjoyed reading and learning about this article. As a marketing major I feel as though I have learned some new knowledge and some good tips that I did not know before. I definitely will be applying this new knowledge to my future career to help benefit me. I plan on starting my own digital advertising business once I graduate college and I feel much more comfortable now. Making a connection with your customers and getting them to return ensures ongoing sales and opens the door for a great repuatation. Just by making a simple connection this can bring in clients that you might not have otherwise attracted with traditional advertising.
ReplyDeleteI never knew how important it is to stand out from the competitors. Being different and standing out will help a business grow. Its important to stay up to date with all the new trends and adapting to the business world. You must be able todo this in order to be successful in this field. I found that to be the most interesting part about this article. I liked the real life example that was given. The article mentions that strong taglines are very important. Amazon’s is “Spend less. Smile more.” Its a catchy tagline and I plan todo this with my own company and clients once I graduate.
Understanding your target demographic and market is a necessity when trying to operate and market your product to a person as a business you operate around the costumer and make sales off of them. Being able to adapt and grow with your costumer or fan base. The business must be able to understand whatever change that happens to the customers who purchase the products they sell or intend to sell. Essentially a company is their target demographic
ReplyDeleteI agree with your advice presented in this post, as well as the quote from Philip Kotler, “Good marketing is no accident. It is both an art and a science”. The companies that really succeed at marketing understand this well. The companies that fail at this, I believe, are living in the past. They think they can create ads that are "good," but that don't necessarily address the real needs of their customers. These companies would be better served by following the information you included in this post about intentionally targeting customers and really selling the benefits of a product or service.
ReplyDeleteIn today's dynamic digital environment, understanding your customers at a profound level is crucial. It's not just about demographics, it's about exploring customers' dreams and fears. Crafting a powerful value proposition, as seen in examples like Amazon and Gillette, is the base for standing out. The key to successful marketing lies in targeting the right segments, aligning with business goals, and consistently adapting strategies.
ReplyDeleteCurrently, the market works in a fast-changing digital environment, so understanding customers at a deep level is crucial. Marketing has reached a point of extensive research towards customers understanding what their needs are and thus creating products and services that satisfy these desires, but also comprehend that this scenario can change over time and organizations must adapt to this. Crafting a powerful value proposition, as seen in examples like Amazon and Gillette, is the base for standing out in a market and acquiring this competitive advantage with a differentiation factor. The key to successful marketing lies in targeting the segments where the organization fits in, which are connected to both customers and business goals, and consistently adapting strategies.
ReplyDeleteOne of the most crucial aspects of marketing and advertising is understanding your target market. Without it, it is impossible to operate a successful business. In order to adjust and relate to your customers, it's critical to change with them and comprehend their mindsets. For those who are looking for ways to better understand their market, this article offers tactics and examples that are easy to follow.
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