Hopefully, as the owner and/or the manager of a print business, you are already fully aware of the importance of highlighting what makes your company stand out from the rest.
With that in mind, what target marketing tools will enable you to do is more effectively communicate this USP to your customers, so continue reading to learn all about how target marketing can increase the profits of your printing business.
What Actually is Target Marketing?
Target marketing is an essential element of communicating why your print business is the company that both private customers and business clients should go to over your competitors.
Basically, at the core of target marketing is the process of creating an ideal profile and personality of the exact type of customer or client you are looking to promote your business to, and this can be done in a number of ways (all of which take time, research, and dedication).
The Key Benefits of Target Marketing
There are numerous key advantages to engaging in target marketing, either for your print business and within the printing industry, or more generally, including the following:
- Ensuring that your brand stands out from the rest
- A way to improve specific aspects of your products and/or services
- Enhancing communication between company and customer
- A great way of vastly improving customer loyalty and satisfaction levels
How to Begin with Target Marketing
There are four different components coming together to create an idea of a target market:
- Behavioral
- Psychographic
- Demographic
- Geographic
Behavioral segmentation concentrates entirely on what the purchase history looks like from an example of your ideal customer or client, whereas psychographic segmentation looks into the interests and general browsing habits of potential online customers.
Demographic segmentation is essentially the information about individuals you would expect to see on a census, and Geographic are the regional preferences that might need to be considered – increasingly relevant today.
After you have explored each segment in detail, it is then time to turn your attention to how to reach your ideal customer by utilizing target marketing.
Applying Target Marketing: The Main Strategies
Obviously, focusing on target marketing will help you to achieve your ultimate objective of increasing your profits and working to attract new print customers—hopefully they will become regular buyers and even better, they will eventually buy in bulk.
The main target marketing strategies include mass marketing (otherwise known as undifferentiated marketing), which is for example, for simple and normal products such as toothpaste or toilet roll: products that appeal and are necessary for every member of the population.
Next, differentiated marketing, also known as segmented marketing, is when a company offers a range of products, all of which are specific to different sections of the population, for example a board game with two different versions—one for adults and one for children.
Niche or concentrated marketing is a method that high-end fashion designers, for example, employ with unique and recognizably luxurious designs—such as Dior and Chanel—and micromarketing is specifically for the local area or even the individual.
