Everyone is familiar with segmenting their market by demographics or firmographics, but do they go far enough? In this Vlog, Grant explains how behavioural marketing helps marketers drill down on their target market even further
One of the reasons marketing goes so wrong sometimes, is because people don’t segment and target their market properly.
While everyone is very familiar with using demography to segment their marketplace, that is things like age, gender address, income bracket, and those other characteristics of people.
And firmographics in the business world, which is the same thing for companies, so size of company turnover, geographical location, etc., those things often just don’t go far enough.
Behavioural targeting is often a very useful mechanism for segmenting an audience. There are different aspects of behaviour which this type of targeting takes into consideration. One way of behavioural targeting is to target people by the challenges they’re looking to resolve or the benefits that they want to get.
For example, an IT security company may want to target businesses who have the challenge of having a lot of data which would appeal for people to hack. Therefore, they need to make sure that it’s as secure as possible.
On the other hand, an ice cream provider that has really tasty ice cream at very low calories may want to target people who want that benefit – to be able to eat more ice cream that’s really tasty without putting on weight.
Another example of behavioural targeting is by occasion. For example, there are universal occasions… Take Valentine’s day, which a whole country may be celebrating, a restaurant might decide to have a Valentine’s day offer.
There are then other occasions which are singular. Birthdays; everybody has one, but of course at different times.
And finally there are one-off occasions. Imagine accounting software targeting a person that’s starting up a business. They may only do that once in their life, but it is an occasion for them at the moment.
Usage is another aspect of behaviour which can be really useful to target people.
For example, a suitcase provider who has a tracking device – it’s quite expensive, using Bluetooth – might decide to target business travellers that go for more than a hundred trips a year rather than the holiday makers who only go once a year. Clearly there’s more value in that suitcase for the people traveling all the time.
Finally, loyalty can be another useful behavioural mechanism, so you can target people that belong to certain frequent flyer programs or have certain supermarket loyalty cards. For example, a tennis racket provider might decide to target people who are loyal to particular tennis clubs.
Behavioural targeting can go beyond traditional demographics and firmographics and really enable you to get better results from your communications.
There may be small changes to the spoken word in this transcript in order to facilitate the readability of the written English
