You own your own business or you would like to one day? Or maybe, you are a marketing manager looking for a new and creative way to reach your target audience that is different from mass marketing that has been done in the past? Well, have you ever thought about narrowing down your target segment in order to catch the consumer ‘s interest?
What does this mean exactly?
Let’s look at it like this. When you are at the doctor’s office waiting for your diagnosis, you are not expecting to receive generalized findings that are relevant to all patients, but you are anticipating an individual examination, analysis, and treatment plan to cure the ailment that you face. Along the same lines, at your local coffee shop, when you reach the barista, you don’t want what most people order, but rather the exact steamy, hot beverage that you ordered to satisfy your particular taste.
It is this idea of individual customization that marketers and sales professionals are realizing has huge potential. Most individuals can recognize a mass generated email versus one that is written with a person’s specific interest in mind. The same is true when it comes to articles or snail mail. Even if there is some interest in what the piece has to say, society has conditioned us to ignore generic or rudimentary material.
In the recent past automation has been used intensively to send messages to the masses with just one single click. This has been the practice, and it was effective for some time, but the new generation of buyers are not interested in this impersonal approach. Innovative companies have embraced the new age of consumers and have converted the old technique of sending one mass indiscriminative email to the inbox of thousands to setting up the system to take a personalized approach that catches the eye and has a return on investment.
Ryan Levesque, author of the bestselling book Ask, illustrates to marketers and business professionals alike, how to segment their lists. In his book, he identifies various companies across an array of industries that have followed this trending approach. These companies have seen significant growth at amazing rates compared to the past efforts.
Levesque says, "One of the biggest fears I hear entrepreneurs express in segmenting their market is that their different market segments are too small to be worth addressing individually. So they rely on ‘one-size-fits-all’ products and messaging. But the reality is when you try to be all thing to all people, you end up being nothing to nobody. Companies, both big and small, that are adopting a segmented strategy are thriving more than ever in today’s marketplace".
It is not as easy as inserting a customer’s name at the top of the message or having a program to sync the function, but it does take more of a concerted effort. Creating a narrow segmentation is about getting to know the consumer by asking the appropriate questions that will return invaluable information about their interests and wants. When market professionals have this insight, it is prudent to use this information to tailor the content to the buyer’s persona.
Follow the lead. Amazon and Netflix have already implemented this personalized feedback method by offering product suggestions that relate to the material the consumer has recently searched. It is tried and true. I imagine you have experienced this and liked the convenience.
The best companies on the market today, that are bound to stay on the edge of innovation, are delivering content and communication tailor-made to your specific tastes.
GBSB Global invites students to partake in one of the most innovative MBA degree programs in Barcelona, Spain and in the whole of Europe. Our approach to business education aims to transform the very perception of the MBA and prepare the business leaders needed in today's highly globalized world markets.
The MBA program curriculum assures that the future business leaders obtain the skills and sensitivities which constitute a kind of cultural intelligence – the ability to understand and respond appropriately to the unknown behaviors, words, and gestures of people from different cultures, countries, backgrounds, and experiences. This foundation will better enable students to step out of the classroom and into innovative markets and compete with a high level of professionalism and a knowledge of the most current practices in business.
Written by Emily Dawn Szajda, GBSB Content Manager