Targeting Trauma is an extremely distressing shock wave to your foundational marketing. It causes catastrophic damage to your marketing strategy, with widespread profit implications.
Targeting Trauma occurs when a targeted market segment is defined either too broadly or too narrowly. It usually affects understaffed small businesses that are big on ambition and enthusiasm, but small on financial resources and marketing know-how.
In most cases of Targeting Trauma, marketing research malnutrition is usually to blame. This entails a lack of proper and extensive legwork into the market you serve.
Other signs and symptoms of Targeting Trauma include:
- Lack of Market Knowledge
- Segmentation Malfunctions
- Targeting Misfires
- Marketing Blind spots
- Stale Market Research
Health Implications for Small Business
Effectively targeting a market segment must always begin with a thorough knowledge of the market you serve. In an ideal world, that usually requires extensive market research. But what if you’re a smaller business without the budget or human resources for conducting exhaustive market research?
Follow this tip …
Marketing First Aid Tip!
You can cure your blind spots and gain invaluable audience targeting insights by tapping into your industry’s trade association resources. Trade associations usually conduct exhaustive research into the markets they represent to gauge trends, shifts and other growth patterns.
Segmentation Malfunctions are another cause for concern. These traumatic target marketing fails are usually the result of a flawed segmentation process. This can result from segmenting primarily by demographics, which is a short-sighted shortcut. Psychographics should always serve as the primary method for gaining insights into determining what customer value most. The latter will help you to fully understand how to align your products with the needs of your target.
It’s easy to misfire when choosing the best segment to target. Don’t let your small business fall victim to Targeting Trauma. When you develop and follow a cohesive marketing plan, like the Organize Your Marketing System™, you will reach and engage the right customer audiences. The painful shock waves will end, and the long-term sales benefits will go straight to your bottom line profitability.
Fractured Foundational Marketing
If you suspect you may be suffering from Targeting Trauma and it’s beginning to cause sales fatalities, get in touch to schedule a Marketing Health Check.