There's a "Right" Message for Each Market SegmentBy
Larry Galler
Marketers of "generalized" or "commodity" products and service might be able to use just one marketing message to communicate with and promote to their broad, generalized population. But, with few exceptions, they will be more successful promoting to niche markets within the marketplace.
Marketers parse their marketplace in many ways depending on whatever they sell. In general, the more specific you target your promotions the more successful they will be. You will gain a higher return on your marketing investment and get more recognition among those targeted markets. An example is selling to the "Mature" market.
America's Mature Market, made up of those over 50 is important to your business since this fast-growing age group controls a major portion of the nation's total wealth with high disposable income. They are done with the costs associated with raising children and many are ready to indulge themselves.
Many in this group have had (or will soon have) lifestyle event changes that "trigger" a purchasing event such as" children leaving home, retirement or planning for it, downsizing or "right-sizing" their housing, increased time and money for travel (including visiting kids and grandkids) and greater awareness of fitness, dietary, and health needs.
Mature Americans do not resemble the grandparents of yesteryear; they are part of a huge new kind of customer base. They represent the mentally youngest, healthiest people of this age bracket America has ever seen. They will respond to companies that take the time and effort to:
- Position products and services specifically for them.
- Understand their different concerns, needs, and desires and train staff to communicate respectfully.
- Plan for ongoing customer relationships.
- Promote using media, language, and images they can easily relate to
- Use larger type on web sites, brochures, even business cards
- Train staff to communicate better with this generation
There are many different strategies you can use to communicate persuasively with your mature prospects and customers, especially if you wrap your promotions around lifestyle changes. Promoting to the "Mature Market" is well worth the effort for the many businesses that do it - and you can succeed in doing it by just thinking through this market's needs and wants.
You say your products and services are not appropriate to Mature Market?" Just extrapolate this discussion of "Market Segmentation and Promotion" to the market you serve. It's exactly the same process, but the players, the media you use, the message us communicate, the visual images you project are different.
Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler" For a free coaching session, email Larry for an appointment - Larry@larrygaller.com. Sign up for his free newsletter at larrygaller.com.
Article Source: Ezinearticles.com
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