A few of our clients have recently asked us about running their marketing ads repeatedly for brand recognition. Now, there is both good and bad in this idea, so as a few clients are interested in this topic, we thought it timely to address this issue in our blog.
Without a doubt when we ask our clients their reason for advertising their business, they tell us that it is to generate more customers and to make sales. The problem is that repeated, untargeted advertising tends to increase brand awareness in the community, but doesn’t necessarily increase your sales – at least not in the immediate future.
If your aim is to increase brand awareness, then untargeted advertising run on a fairly constant basis, will achieve this goal. Of course, increasing the awareness of your brand will eventually also increase your customer base and your sales, but usually this doesn’t happen quickly.
On the other hand, if you want to increase sales this month, then targeted marketing campaigns are what you need.
What are targeted marketing campaigns?
Targeted marketing is, essentially, advertising your business or brand to people who are very likely to buy your services or products. The lynch pin that determines the success or failure of targeted marketing is identifying your target market.
For example, Starbucks have honed their targeted marketing strategies so well that they hold around 33% of the market share for people aged between 18 to 24 years of age in the United States. Starbucks have positioned themselves as the cool place to go for young people to hang out and drink coffee.
This is targeted marketing at its best. So how can your business benefit from targeted marketing?
- You must focus on one specific area of the market, by identifying your target audience precisely.
- You position yourself as an expert in the area, offering a different solution to a problem or just a cool place to hang out.
- You need to know how best to reach your target audience. For example, is an email campaign or a social media campaign best?
- You create highly relevant advertising material that engages your target audience.
- Review your results, and test and refine your campaigns.
When you engage in targeting marketing you no longer have to wait for customers to find you, because you know who they are, where they are and how to attract their business.