Market Segmentation Benefits: The Beautiful Irony of a Bullseye Target
Before 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?
The Beautiful Irony
It’s been said that in order to truly define who you are, you must be able to define who you are not. The same concept applies to brands.
Let’s take the company Apple, for example. They do a great job of appealing to a variety of ages, psychographics, and demographics – I’ve seen elderly grandmothers and five-year-olds alike use iPads and iPhones deftly (the latter of which is an interesting phenomenon, but that’s a conversation for a later time).
Many organizations want to achieve the marketing success Apple has by having all types of people buy their product. And logically, that’s the way it should be marketed; “my product is for everyone – old, young, mothers, fathers, children” etc.
But in actuality, when Apple markets their products, they zone in on the young, trendy, and tech-savvy. You can argue that they focus on those around 30 years-old, with a higher education and disposable income. All their marketing messaging is clear enough that it not only implies who they’re targeting , but more importantly, who they’re not targeting.
So, how is that a company that solely targets the young, trendy, and tech-savvy 30-year-old have a plethora of users outside of that target that vary in both age and tech-savviness among other qualities? Herein lies the beautiful irony of having a bullseye target.
When Apple pinpoints its message towards a specific demographic, their message is clearer and more distinct than brands who are broad with their marketing efforts, and thus its easier to cut through the noise. As a consumer, as long as you appeal with a belief or a value that Apple is communicating, you’ll be psychologically inclined to join or choose their products. Many times, those outside Apple’s target demographic aspire to be who they’re targeting, whether it be a older Baby Boomer aspiring to understand the technological world a bit better, or a young teen aspiring to be like their idols. By purchasing their products, they’re one step closer to who they want to be.
Last year, Tammy spoke about Target Marketing at an international conference. Watch the presentation below:
Finding Your Bullseye Target
Among the plethora of people with different demographics and psychographics, it’s not a simple task to just pluck a person out of the crowd and define them as your bullseye target. Hence, the way to actually find your bullseye target actually starts with you and your brand.
We talked in this blog post about the importance of a marketer’s vision. If you aren’t sure about your vision statement yet, stop reading right now and read and complete the “Overarching Clarity” section of this booklet. You will need this in order to develop your bullseye target.
After you’ve confirmed your vision and the rest of the “overarching clarity” staircase, you’ll have a better idea of how your brand can be something truly meaningful. The next step in finding your bullseye target is simple; stand for something, and you won’t have to find your target, your target will find you.
Inc.com explains this well:
Make your brand stand for something meaningful. Convey that meaning in an authentic way, and the right people (your natural customers) will show up. Whole Foods and Patagonia are great examples of this strategy. Each focuses on sustainable growth and has been doing so unrelentingly for years. It let their customer base (and their businesses) grow organically from a core base of early adapters to more mainstream consumers who caught on through media attention and personal experience.
When the two companies started, they were niche brands that went after small market segments. Today, they’re two of our country’s strongest brands. That doesn’t mean they cater to the masses. Their missions have not changed. So when you enter the market, stand for something specific and communicable. Give your positioning a clear focus–even if you think the messaging may limit your audience.
The Last Step
Now that your bullseye target is solidified, they will continue on to become your best customers, before they eventually become your ambassadors, and then rest of the world will follow. As easy as it sounds, it’s not a simple task to maintain focus on your bullseye target – especially as your customer base grows. You must continue to be loyal to your original messaging, and continually refine and tweak it to what your bullseye expects. Most importantly though, the message you communicate to your bullseye target must be true to your brand. In other words, practice what you preach in all aspects of your company from marketing to sales to HR. If you can do this, you’ll have mastered the art of bullseye marketing.
If you liked this article, please check out some related links of ours:
– How To Build A Tribe Of Brand Followers
– How-to Write a Strategic Marketing Plan That Yields ROI
– The Media Buyer Strategy: The World is Your Canvas
If you want to learn more about specific key elements of an effective marketing plan, read our 50+ page booklet on How to Write A Strategic Marketing Plan That Yields ROI – complete with explanations
