08 Feb HOW HYPER-TARGETED MARKETING CAN HELP YOU WIN OVER AN INDUSTRY
In today’s marketing world, personalization is increasingly becoming an essential part of any successful marketing strategy. Each consumer wants to be treated like an extraordinary one, they want to feel special, and like the ‘hero’ of your brand story!
A Personalized Marketing Strategy has several benefits, for both businesses and consumers. When you know exactly who the target group is, how to reach them, what to say and when to say it, transitioning your business from ‘good to great’ becomes much easier. And this is where Hyper-Targeting takes ‘personalization’ in mass marketing to a whole new higher level!
WHAT IS HYPER-TARGETING?
The days of overspreading a neighborhood with direct mail or running a TV Campaign based on some broad demographic data seem almost old-fashioned these days. This is why marketers are encouraged to employ a Hyper-Targeted Marketing Strategy, to reach customers and deliver extremely customized (personalized) messages right where the customers are most likely to see those messages.
According to a study by IBM, 56% of customers feel the communication messages they receive from brands are irrelevant or unimportant to them. This is why identifying and understanding your customers, based on leveraged data and customer-centric campaigns, can aid your brand in achieving better results.
THE IMPORTANCE OF HYPER-TARGETED MARKETING
Today, the world of devices and content-delivery platforms has multiplied manifold, and Hyper-Targeting is helping us function within the flux. Sure! But only when done right. A well-executed Hyper-Targeting Marketing Strategy has many benefits, and here are some to prove it:
- You will build better relationships with your customers – by providing them with personalized messages and offerings that address specific customer needs.
- You will increase customer knowledge – marketing strategy thrives on insights and the more customer insights you collect and leverage, the easier it becomes to run a high converting campaign.
- You will increase acquisition and repeat sales too – by reaching an interesting audience, you can receive valuable feedback and get led (by your customers) to more potential ones.
- You will create better customer experiences – by marketing your product/service brands to the right audience and on the right platform, your connections with your customers will be easier and more organic – leading to more leads and sales.
THE 3 MAIN ACTIVITIES OF HYPER-TARGETED MARKETING
Marketers who are willing to take a hands-on approach can achieve dramatic results with Hyper-Targeted Marketing Strategies. The three (3) main activities of a successful Hyper-Targeted Marketing Strategy – that allow for a high converting campaign are:
- Identifying Your Target Market – look for people who are most likely to buy from you but consider the fact that markets have become so differentiated that it is not enough to target only demographically. Not every demographic buys the same things, there are many different opinions, interests, and needs that different person within the same demographic group. Therefore, consider many other factors that enable you to arrive at your target market.
- Dividing Your Market into Segments – there are many possible methods of market segmentation; you are not limited to demographics, psychographics, geographic or behavioural characteristics, but they are a good place to start. Consider tracking how often customers use your website, what they are interested in, what they bought, and whether they are loyal or occasional buyers.
- Positioning Yourself in the Marketplace – now that you have identified the target market(s) you are planning on reaching out to, craft the overall message about your business or product(s). A well-rounded marketing plan reaches your intended target market in a variety of ways with a consistent message that appeals to them.
THE FUTURE OF MARKETING IS HYPER-TARGETED
A study revealed that Hyper-Targeting has a positive impact on 86% of customers. Targeted campaigns may have a smaller reach, but better results than mass marketing, because this type of hyper-targeted marketing is built around specific consumer needs and preferences. The core of marketing should focus on hyper-targeting and personalization, as hyper-targeting allows not only to get your company’s ads in front of potential customers but also tracks your target group for remarketing purposes.
Consider partnering with MDH Digital for a successful Hyper-Targeted Marketing Strategy. We can help you target people based on:
- The location – where we mark the exact area in which the person must appear to receive the message.
- Time, nationality, age, and gender.
- Online behaviour, socioeconomic status, and consumer data insights.
- Purchasing power and influence (loyal or occasional buyers).
- Segments, e.g., frequent shopper, music fan, car seeker, sports fan, travel fan, and much more!