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How to Hit Your Target Market Bullseye Every Time
THE IDEAL CLIENT: ME
My experience as a customer made me think about how nutraceutical marketers seem to ignore me.
I’m in a market segment best labeled as “bad guys” (GOMs).
I know I’m in it because my wife keeps telling me so. old Irritable Curmudgeonly.
And I feel ignored by supplement companies.
First, I subscribed to many alternative health online newsletters. What I’ve received is invariably so generalized that I get the impression that the businesses that send them don’t even know I exist.
This is surprising, because I expose two of the main criteria of an ideal client.
First, I have spendable income that I allocate to supplements.
Second, I am very, very concerned about how to slow down age-related health challenges.
That’s just the beginning.
If you do good research, you will know some more useful information for marketing to me and my fellow GOMs.
Like everyone else, we have certain typical needs. We want to feel significant. We want you to know us and acknowledge our biggest health concerns.
Talking to me and my fellow GOMs will also tell you that we don’t think of ourselves as “old”. We despise feeling outdated or removed from mainstream youth culture.
We are increasingly concerned with longevity.
We are readers and information seekers. This characteristic alone makes us responsive to advertising.
Okay, so there are a few key traits you can use to get me to know you, like you, trust you… and buy from you.
GOMs represent over 10% of the US population. Adding our age group females to the equation more than doubles the market size.
I am more than just a customer who feels ignored.
I am also a marketer who has figured out how to hit the market for my segment. And the strategy I discovered works for all other market segments as well.
My experience marketing a paid subscription newsletter illustrates what I found.
The conversion rate hovers right around 30%, with subscription renewal at around 75%.
That’s a pretty good conversion and a very low churn rate.
What I did was first survey my unsubscribe list to find just one demographic – seniors with my same health concerns.
Then I sent that group to a landing page specifically designed to address their needs.
This is it.
EASIEST WAY TO HIT THE TARGET
What I have described is widely known among marketers who use email marketing.
This practice is known as list segmentation.
In other words, carving out one particular segment from a larger list of subscribers, then addressing the particular needs of that segment.
Conceptually it is nothing new. It simply capitalizes on the old marketing adage of finding out what people want, then providing it to them.
What I did has three key components that apply to all markets.
1) Define and select a target segment from a larger list.
This is quite simple, as email hosting services have already set up the technical steps for list segmentation.
2) Create compelling marketing copy that pushes all the hot buttons for that segment. This is crucial to getting people in your target segment to take the action you want them to take – ie, buy your products.
In summary, this step is all about communication. If Anthony Robbins’ definition is correct (and it is) – communication is the results you get.
If people aren’t buying, you aren’t communicating.
3) Rinse and repeat for each segment you want to hit.
There is no limit to how many segments you can define in your list.
I have mentioned only a few. The number seems limitless.
My best writing mentor, Joshua Boswell, once mentioned that he cut a client list into 72 segments. 72!
My experience is not unique. It’s a common story that applies to every market segment in every industry.
Wait, there’s more!
A BENEFIT TO YOUR ROI
Discovering high-value customers through list segmentation also has a beneficial side. It allows you to get “deadbeat” subscribers.
I don’t mean to be cynical here. The truth is, you probably built your list based on bait, a free offer of some kind. That’s a good start. People love free stuff.
However, the vast majority of people who receive free information will not buy from you. They will most likely even ignore your emails, without ever unsubscribing. They just stay on your list forever, buying nothing.
While this can be confusing and perhaps even annoying, it can also be expensive. Email hosting providers charge more as your list grows. Eliminating ‘perpetual non-buyers’ allows you to trim your list to actual and likely buyers.
Thus, the cost savings can be substantial. And spending time and money on just what’s left can raise your ROI.
So far I have simply outlined the concept of list segmentation and what you can expect from it. It is clearly a fundamental strategy behind successful email marketing.
Of course, all the high-tech bells and whistles of list segmentation still rely on compelling copy. Ultimately, that drives every marketing strategy, no matter the platform.
That’s where I come in.
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