Precision Marketing
Precision marketing known as “target or vertical” marketing is the difference between a rifle shot vs. a shotgun blast. Precision marketing relies on intimate knowledge of well-defined markets. Defining and developing an intimate knowledge of individual markets requires in-depth research.
Many smaller companies fail to deploy in-depth research techniques to divide their total market into well-defined homogenous target markets. Narrow casting markets by similar homogenous characteristics or traits requires knowledge and experience in identifying demographic, psychographic or behavioral values or attributes that are similar. To assume all markets are similar or can be reached with similar marketing promotion mechanisms is a cost fallacy.
Individual target or vertical markets are identified by similar and different characteristics. Individual “targets” are groups of defined individual consumers or businesses that have similar characteristics. Defining and separating targets into separate markets translates into different marketing and promotion approaches and strategies.
Strategic business and marketing plans rely on the identification and “mapping” of target markets and how to best reach them. Frequently, sets of messages (Ads, promotion devices: direct mail, electronic media) are developed to pinpoint and reinforce key product benefits or services to each target market. As no two target markets are equal, targeted messages campaigns are also different.
The advent of online media has enabled the integration of both on and off line medias. Effectively targeting identified markets is common achieved with both on and off line campaign strategies. Frequently, on line promotion techniques utilize off line reinforcement. Similarly, off line (traditional) promotion techniques utilize on line promotion coordination. The expansion of electronic media both on and off line requires an integrated promotion approach for long-term success.
