Five Target Market Strategies You Need To KnowJan 30, 2022
There are numerous ways to target specific market segments, but it's tough to see how they work when you're always on the front end. Understanding different targeted marketing strategies is essential to plan campaigns more effectively. This quick guide will review the most common target market tactics you need to know.
Also referred to as audience targeting, behavioral targeting is the segmentation of a customer base depending on its online browsing behavior. By considering the links your customers click, the searches they do, the pages they visit, and the products they buy, you can group them into segments and send them relevant, specific ad content based on their purchase and browsing history.
This type of target marketing involves the display of advertisements based on a website's content. For instance, ads for cookware could be placed on a recipe-sharing site, while ads for fitness gear are a good fit for a weightlifting forum. Contextual targeting is based on the assumption that a person reading a particular web page may be interested in related products.
In search retargeting, display ads are served to users as they browse, and the ads are based on the keywords they've searched. Ad campaigns are set up with chosen keywords relevant to the products and services you are selling. For instance, if you're selling bedroom furniture, you'll serve ads to those looking for beds and dressers. Contextual retargeting is quite successful because it connects with shoppers intentionally. While a shopper may not know about your company, they are expressing interest in the services and products you offer. This is best thought of as prospecting or upper funnel strategy.
Otherwise known simply as "retargeting," site retargeting involves showing display ads to those who have previously visited your site but haven't yet made a purchase. It's different from a search retargeting in two ways: it's not based on keywords and targets those who already know your brand. Because brand recognition is built-in, the ROI (return on investment) is very high. Think of site retargeting as a conversion-focused, lower-funnel marketing strategy.
This strategy uses all browsing data obtained from behavioral targeting, adds third-party data (when available), and uses AI to analyze the information and predict buyers' future behaviors. The artificial intelligence behind predictive targeting can link behaviors, identify related products for cross-selling and upselling, and determine which shoppers are most likely to make a purchase. The more data AI analyzes, the better the predictions become….and the more your business will benefit from increased sales and customer loyalty.
In conclusion, direct marketing won't work unless you target the right audience. With these common targeting strategies, you can build a stronger customer base and turn more conversions into sales. Keep coming back to the site for more great information and target marketing tips.
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