Market Segmentation Benefits: The Beautiful Irony of a Bullseye Target
Category: Marketing Strategies & TipsBefore we jump in, a quick marketing 101 lesson; the idea of having a “bullseye target” in marketing is to single in on one type of person with specific demographic and psychographic details so that you can focus all your marketing resources and attention on him or her. If this is the first time you’ve heard of this concept, it might sound a little ridiculous, and wasteful. I get it. The concept of funnelling all your marketing budget and resources into one single specific type of person seems ludicrous when you can just as easily spread out those resources and appeal to everyone.
The problem is, when you do the latter, you dilute your budget, resources, and worst of all, your message.
There is a cacophony of brands and advertisements bombarding our eyes and minds every day, and as consumers it’s not unusual to see thousands upon thousands each day. So, how does pin-pointing one type of person for your marketing efforts help your brand to stand out and attract more customers and clients?