Do you want to know the secret of the pros? I mean, do you REALLY want to know what sets the million dollar marketers apart from the other 99%? It’s a little thing known as segmentation and targeting.
There are over 2 billion people that use the internet. That is a lot of people! Each one of these people comes from a different background, has certain likes / dislikes, and is interested in different types of information. For some marketers, building an audience can be easy, building a list can be easy, but figuring out how to market to that list can be difficult.
Even if you own a niche site, your subscribers may all be very different. This is why the most profitable marketers use various targeting strategies in order to ensure that no matter who joins your list, you have a strategy in place to effectively present them with an offer they simply can’t refuse.
What is Targeting?
The most successful targeting techniques require detailed information about the consumer. The more you understand about them, the easier it is for you to position your offers in a manner that will be too enticing to refuse.
Thanks to continuous innovations in technology, marketers are privy to a substantial amount of information regarding their consumer base (past and present). Just the analytics from your email delivery service alone can yield some powerful insight into the minds of your subscribers.
This allows you to create specialized campaigns that target a specific demographic. For instance, segmenting those that purchased a specific product in order to offer them a similar product may substantially increase your conversions. This is a form of targeting through personalization.
Let’s Take a Look at Some Statistics Shall We?
According to a study conducted by Forrester, a majority of marketers report that targeting has a significant impact on the following factors;
- 75% say that it positively affects customer retention rates
- 73% say that personalization through targeting benefits lifetime customer value
- 71% admit that it provides an advantage in customer advocacy rates
- 71% also say that personalization through targeting impacts conversion rates
- 66% have stated that the average revenue per transaction increases due to personalization
Additionally, a 2013 study conducted by Sociomantic, found that 91% of potential consumers polled admitted that they would make a purchase if the offer was presented in a well personalized email. What they mean is that people are willing to buy a product if the right offer is made. With a list of THOUSANDS of subscribers, how can you possibly present the right offer to EVERYONE?
The only way to do this is to either pray that everyone on your list is an identical clone, with the same lifestyle choices, likes, and dislikes, OR use every bit of information at your disposal to provide potential consumers with the offers that they WANT.
A well targeted email can be an absolute powerhouse when it comes to not only providing what the consumer is looking for, but also increasing your bank account significantly.
Handy Tips for Effective Targeting
Not everyone uses a desktop – 40% of people now check their email through the use of a mobile device. It’s important to take this into account when creating your emails.
Advanced html within your emails may look awesome, but they may not be compatible with mobile devices. This could automatically cut your earning almost in half right from the start!
For the majority of email campaigns, it may be best to stick to a simple layout that provides only text or has a banner without the additional html clutter.
Don’t get too crazy with your emails – Like most things in life, moderation is key. Sending out floods of emails can often be seen as a lack of consideration and can often turn subscribers off.
This may even lead your audience to either delete your emails or unsubscribe, which defeats the entire purpose of email marketing entirely.
Purchase history is your friend – There are a few ways that you can use this information in order to benefit your previous consumers and your business simultaneously. For instance:
If a consumer purchases product “A” then they may be interested in product “B” which compliments their original purchase, providing additional value to product “A”.
Also, if you see that a consumer purchased your product 1 year ago, then maybe you could send them an email that thanks them for following you and suggest that they a look at your latest product that improves upon their original purchase.
Track engagement- open and click through rates will give you insight into what forms of communication are the most effective. Are people opening your newsletters, sales offers, videos, or content?
You can even take this a step further by split testing campaigns to see which is more effective and has a stronger impact on your audience.
Ask for info – On your sign up forms, go beyond just asking for a user’s name and email address. Here’s a quick story. I recently signed up for a free offer from a well known marketer. Instead of providing digital information, this person sent me a book.
In order to receive this book, I had to provide my full name, email address, phone number, and my home address. I was so enthralled at the idea of receiving this book that I gladly filled in all of the required info boxes.
A week after receiving the book I opened my mail and found a very specific, personalized offer based on my geo location. Without even realizing it, I had provided this marketer with a TON of juicy information in which he can now send me very targeted offers.
Sure, asking for additional information in a sign up area may deter some from even subscribing to begin with, but it will allow you to segment and properly target your audience. Here are two possible scenarios;
Tina feels as if she’s too skinny and wants to build some muscle. She subscribes to a list for a popular fitness website. Within the sign up form she is asked to provide her gender and pick a specific goal from a drop down list.
Later that week she receives an email that offers a program for women that are looking to bulk up. Tina purchases the product. Tina is ecstatic because she found exactly what she was looking for and the owner of the site is happy because they received a sale.
How about another scenario?
Mark, from Boulder Colorado, joins a website in order to learn how to attract women. He subscribes to a list on a dating niche site. In the sign up form he is asked to provide what city he is from. Mark obliges.
Mark subscribes to several other dating niche sites and usually only glances over the emails and rarely opens the majority of them. Suddenly, he sees an email in his inbox that reads “Discover how to attract any woman in Boulder Colorado Starting Today.”
Instead of passing over the email, like he does with all the others, he decides to open it because it piques his interest. BAM, Mark is now hooked on your every word.
What You Do Next is Crucial
I provided you with the same information that has turned countless wanna be marketers into full fledged entrepreneurs. You can either implement targeting techniques into your campaigns and begin seeing REAL profits, or you can simply ignore everything you read and go about it a different way.
Are you ready to make a change?