precision marketing

All posts tagged precision marketing

Buyer Motivations

Published October 9, 2013 by Mayrbear's Lair

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Marketing experts know that the most effective ways to reach their audience is through a powerful message that evokes a feeling and motivates buyers to take action. Kennedy (2011) suggests that successful advertising campaigns implement strategies that focus on a unique selling proposition (USP). This transpires to explain the company’s position with respect to their competition (Kennedy, 2011). For example, Best Buy states it guarantees the lowest prices. They dare consumers to find a lower price and boldly state they will match it. This is one example of how a company telegraphs a message about their benefits through their promises. This tactic is used to effectively appeal to customers that are interested in saving money. Others, however, use tactics like fear to electrify consumers. For example, Allstate Insurance Company uses images of disastrous events like flooding, theft, and automobile fender benders to instill a message of fear. The message they want to communicate with this strategy is that their brand of insurance can bring them comfort during events of great suffering. Companies that express a USP that evoke strong emotions like fear can use it to their advantage to position their services and goods as the answer that addresses their needs. They focus on rousing consumer feelings from their own experiences of significant life changing events. This is one method corporations can use to build consumer trust.

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Marketing experts that use precision marketing methodologies can cut through the noise and focus on winning consumers as fully engaged advocates. Gallagher and Zoratti (2012) postulate that in today’s society, consumers have made it clear they are in control of the communication they tune into. They are voting with their money and their attention by fast forwarding through commercials, opting out of mailing lists, and blocking their phones to avoid solicitors. Consumers, instead, are spreading the information through social networks by voicing their opinions online, with friends, family, colleagues, and the global internet community. Because of this trend corporations are watching their advertising investments deteriorate. Market research reveals that consumer interests and attention are directly related to the salience of the message they transmit (Gallagher & Zoratti, 2012). In other words, in order to engage consumers that are ignoring them, they are finding new methods to penetrate their barriers by gathering extensive research to find out what is relevant to them and what appeals to them emotionally.

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There are many components that advertising firms use to transmit their messages that target relevant consumers. Baack and Clow (2012) contend there are seven major areas of appeal that help form these messages: (a) fear, (b) humor, (c) sex, (d) music, (e) rationality, (f) emotions, or (g) scarcity. Fear is the top emotion that advertisers implement to get their message out while humor is the second. Even though these emotions are not similar, they can, however, be linked together to convey a powerful message (Baack & Clow, 2012). For instance, a company that wants to send a message to men about a new cologne product, may link many of these characteristics to allure an audience. Old Spice, for example, created a very effective commercial about their cologne combining the components of fear, humor, and sex appeal to get the message out about one of their products. The commercial opens with a beautiful muscular man standing in front of a running shower, clothed in nothing but a towel. Using sex appeal in a humorous situation, the man appeals directly to his audience, looking straight into the camera asking the viewer to compare their mate to him while the images fast forward through a variety of heroic scenes ending with the man mounted on a horse reminiscent of a knight in shining armor. This message uses humor, rationality, fear, and sex appeal to communicate to the audience. The ad clearly conveys that the cologne can make their partner more heroic like the man in the commercial if they use Old Spice. The commercial banks on the man’s sex appeal to attract attention, while the concept of fear is implied to those who do not use the product. This advertising strategy communicates to both women and men. The man’s humor and sex appeal allures those who fantasize about a heroic partner, and the emotion of fear speaks to those who are afraid they are not heroic or attractive enough in the eyes of their partners unless they take some kind of action. Advertising teams that engage in precision marketing methods and focus on their target audience, are in a better position to influence buyer motivations and tend to yield the highest results.

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References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Gallagher, L., & Zoratti, S. (2012). Precision marketing: Maximizing revenue through relevance. London, UK: Kogan Page Ltd.

Kennedy, D. (2011). The ultimate marketing plan: Target your audience (Fourth ed.). Avon, MA, USA: Amazon Digital Services, Inc.

Target Market

Published October 7, 2013 by Mayrbear's Lair

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Marketers that approach advertising with a strategy to target everybody will face many obstacles. An effective marketing campaign is designed to clearly communicate a message to the right people through the proper channels in order to experience the highest level of profitability. Kennedy (2011) explains the most efficient marketers build their campaigns in powerful, persuasive, and compelling ways to attract the attention and captivate their viewer. Another significant aspect of developing a campaign is to determine precisely who the message is for and design the best method to present it to them (Kennedy, 2011). In short, successful campaigns include two important components to achieve the best results: (a) delivering a powerful message and (b) delivering it to the relevant people.

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Because of the internet and advances in technology in today’s competitive culture, a great marketing message is more important than in any other time in history. A creative who designs a campaign to target everybody will not transmit their message efficiently to the people who need to hear it the most. For example, an advertisement about make-up is only relevant to people who use it. This ad would be wasted on members of society that do not wear make-up. Baack and Clow (2012) suggest the most effective marketers analyze their target audience and design their campaigns to persuade relevant consumers to inquire about their services or products. The information companies gather from consumers allows them to serve their needs better. This strategy enables them to develop a campaign that speaks directly to the consumers who may have an interest in their services or goods (Baack & Clow, 2012). Taking this information into consideration, most creatives design their ultimate marketing plans to promote and combine powerful messages that authentically represents the company’s goods and services.

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Many of today’s advertising giants have one thing in common: commitment to customer focus strategies derived from rigorous customer insight. Gallagher and Zoratti (2012) purport that one way this is achieved is through separating consumers into groups by data mining, analysis, and detailed profiling that implements third party data resources. This strategy is in addition to behavioral, transactional, and conversational tracking. This is known as precision marketing. Rather than allocating large budgets for mass campaigns that treat everyone in the same manner, precision marketers are mining customer data for spending predispositions and propensities in order to target buyers in an exceptionally sophisticated manner (Gallagher & Zoratti, 2012). In other words, all communication received can be used for segmentation to target relevant data to the intended recipient. Marketers that include segmentation as part of their advertising strategy produce higher results than those who do not. For example, when a person with a Facebook profile indicates their interests by liking different pages, this information is gathered so that the next time a person logs in, there are ads strategically placed to target that individual’s interests. By gathering and segmenting data, marketers are better able to reach their intended audience to produce more successful results.

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References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Gallagher, L., & Zoratti, S. (2012). Precision marketing: Maximizing revenue through relevance. London, UK: Kogan Page Ltd.

Kennedy, D. (2011). The ultimate marketing plan: Target your audience (Fourth ed.). Avon, MA, USA: Amazon Digital Services, Inc.