When you’re running a business, your survival is based on your customers. If you don’t bring in new customers and sell your products, you can’t make a profit, right?
Luckily for you, marketing campaigns can solve these issues. Not only will the right strategy help to bring new customers, but perfecting your technique can skyrocket your business’ sales, no matter the industry you’re working in.
In this article, we’re sharing the difference between two popular types of marketing campaign – and why you should place a special focus on one.
What’s the difference between targeted and mass marketing?
You’re looking to nail your marketing strategy for this year. You want to see great results from your campaigns, but which type of marketing is best?
Targeted marketing aims to reach people who’re most suited to buying your product, or likely to be interested in your business. This can be done through social media advertising (based on specific audience interests), or guest posting on an industry blog.
This type of marketing is often the least expensive (since you’re targeting fewer people), and the best option if you’re looking to see great conversion rates.
On the other hand, mass marketing aims to reach any kind of person… Even if they haven’t expressed any kind of interest in your product before. TV advertising and billboards are just two examples of this type of marketing.
Unlike targeted marketing, appealing to the masses is more expensive.
You might also see low conversion rates. That’s because a huge percentage of the people you’re targeting are unlikely to be ready to whip out their wallets and make a purchase.
Why is targeted marketing (generally) more effective?
Along with better conversion rates, targeted marketing offers:
(1) Better engagement rates
Since the people who’re exposed to your brand are more likely to be interested in what you have to offer, targeted marketing campaigns see better engagement rates.
Think about it: If you’re shown a Facebook advert from an online store you recently browsed, you’re much more likely to click on it over another brand you’ve never seen before.
(2) Increased chance of lead generation
Because of the better engagement rates that targeted marketing campaigns receive, there’s also an increased chance of generating leads through your strategy.
That’s because engagement is closely related to loyalty, and loyal customers are more likely to make a purchase. And we all know that loyal customers have high retention rates, too.
In fact, some companies improve their engagement rates and see revenue drive up from 13% to 51%!
(3) GDPR compliance
New GDPR regulations affect the way companies hold customer’s data. It forces businesses to be fully transparent on the information they hold about their customers, and affects how they communicate with them, too.
However, targeted marketing helps businesses to comply with GDPR rules. That’s because certain activities – like email marketing – require you to get explicit permission from your customer, first.
You can’t email people who might be interested in your product (like mass marketing would aim for). Instead, targeted marketing can focus on the people who’re already within your brand’s circle and opted-in to hear from you.
- Targeted marketing is a fantastic way for small businesses to promote their business and sell their products
- It’s often more beneficial than mass marketing
- You could see better engagement, lead generation and retention if you’re using targeted marketing
Looking for an extra pair of hands to refine your marketing strategy and see impressive results?
Contact us today and see how our services could help to skyrocket your brand.