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Business marketing strategies: While pinpointing your market so narrowly takes a bit more effort,entrepreneurs who aim at a small target are far more likely to make a direct hit. The idea in this concept is for a person to focus his/her marketing efforts toward a specific audience who holds an interest in the very product/service being sold. This is not a new concept and yet it is amazing how many businesses neglect it.
When marketing strategies of this nature are applied, the results are exceedingly more beneficial than when a more generally targeted strategy is used. For example, if marketing to a general audience who holds interests in a wide range of products/services as apposed to a targeted, specific product/service, the results in sales generated from this effort would be greatly diminished compared to the results in sales realized through focusing on a concentrated interest among an audience.
Business Marketing Strategies - Targeted marketing
The reason for this is because within an audience of people holding large range of interests, only a few will find the need in the product/service offered to them. Conversely, when marketing to an audience of people who all hold the same interest in the product/service being offered, every single person in your audience is much more apt to respond to the marketing efforts. This concept can be likened to a ship at sea that is focused on a specific destination (or target.) If the ship maintains it's aim toward the specific target, it will effectively reach its target because of the concentrated effort.
However, if the ship is aimed in a wide range of directions, the ship's target will in effect be missed and there will be a great deal of effort and energy wasted as the ship meanders here and there. Targeting a specific audience with a specific interest enables you to avoid wasted marketing efforts, time and money. And this is the true power that is found in targeted marketing.
Top of the Mind Awareness : Familiarity Breeds Sales One of the large challenges you face as a marketer is achieving what marketing professionals call "top of the mind awareness" of your products and services.
What is Top of the Mind Awareness? Let's for the sake of illustration use an equine marketer. Top of the Mind Awareness, or "TOMA," is being the first supplier a prospective customer thinks of when they think about the horses, equine products, or horse-related services that you offer. Increasing your level of TOMA in your prospects' minds impacts your current sales of horses and services as well as your future sales.
Here are some examples of TOMA at work:
Example 1: You have TOMA of products with which you are familiar. If someone asks you about farriers, the image or name that pops into your mind is probably that of your own farrier. You are most familiar with your own farrier, so he is on "top of your mind." Your awareness may be so strong that when you hear the general word "farrier," you picture your own farrier's face! Most people maintain their own status quo—when they find their service providers to be satisfactory, they are in a comfortable position than selecting another and venturing into the unknown. You are a current customer of your farrier and, as long as you are otherwise satisfied, that familiarity helps to keep you a current customer.
Business Marketing Strategies - Power Of Targeted Marketing
Example 2: You have TOMA for products that you have never used! Think about a type of product that you haven't tried. For example, the first time you think you might try finding a joint health supplement, do any names come to mind? Cosequin, Corta-Flx, or another brand? Even though you don't have first-hand familiarity with the product, you probably can think of one or more specific brands. The reason those brands come to the top of your mind is that effective marketing has put them there!
You have seen an ad for the brand, or the product package, or heard its name in conjunction with the product's purpose. Odds are, you have been exposed to information about the product in several ways and many times. Your mind has associated that brand with the idea of "joint supplement," and stored it away in your memory box.
How to Build Your Horse Business by Building TOMA:
Familiarity builds positive associations. In one psychological study, each subject was shown a random squiggly line. When the person was later presented with a set of squiggly line patterns and asked which they liked the best, most chose the line that they had seen before.
It works for squiggly lines, for products, and for business and brand names: The more familiarity, the more likely that something is preferred. Think of ways to create TOMA with your prospective customers, put those strategies into practice, and become your prospects' instinctive first choice! I hope this information will enable you to concentrate your efforts for effective results.