M5 – Target Markets and Market Segments

Effective marketing, the kind that makes money, requires you to not only pick a target market, but to also segment that market.

Why?

Because each segment usually needs a different message in order to entice them to buy.

In this M5, Michael discusses the advanced segmenting information that while seemingly obvious, isn’t utilized by most businesses.

Once you know and apply this information, you will get better results from your campaigns.

It’s not just about how you choose your Target Market and your Market Segments. It’s the sub-segments of each segment as well. Each segment has three sub-segments: future customers (prospects), existing customers, and past customers. Each of these segments will need a different message in order to entice them to buy, or buy again, from you.

When you understand this, it becomes obvious that prospects and existing customers will need slightly different marketing messages. Not completely different, but messages tailored to their status. Those messages could have different offers, but they should at least speak to the level of relationship your company has with them.

If you would like more information on target markets and market segments, give us a call, or shoot us an email.

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About Michael Miller

Michael Miller is the owner of Mindwhirl.com, a sales and marketing coaching and training company in Atlanta, Georgia.

Michael’s mission is helping small business owners understand, and organize their marketing so they can make money and grow.

Mindwhirl helps business owners plan and implement effective, profitable marketing campaigns and sales programs.

If you need more sales, we know how to get leads and grow businesses. Call us today at (404) 858-3105, or email me at mmiller@mindwhirl.com.

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