Types of Financial Target Marketing
Typically, target marketing is employed to increase awareness and sales in a specific market, such as healthcare, construction, or manufacturing. However, it is a common misconception that financial target marketing is beneficial when focusing on individual industries only. While these campaigns are certainly the primary purpose of target marketing, you can apply its techniques to promote other areas of your firm.
How Financial Target Marketing Works
Target marketing focuses on an individual market by speaking directly to its needs. This approach involves developing specific messages, materials, and campaigns that provide solutions to the challenges of the market while promoting experience in the market. When developing a target market campaign, you should also incorporate images of that market to make a connection visually. The following are other areas beside industry segments to consider for target marketing campaigns.
If you have specific services you want to grow or new ones to promote, target marketing techniques can be very effective. For example, I have clients use financial target marketing to highlight payroll services, retirement planning, and non-profit audits to increase sales in those service areas.
No industry stays the same. New governmental regulation or taxes laws give financial firms the opportunity to inform clients, as well as promote your services. Again, the same target marketing principles apply; you are presenting an issue the client needs to deal with and offering your solution to help them.
Another way to engage financial target marketing is by client segmentation. If you categorize clients by age, income, or profession, you can identify areas that align with your specific services. Older clients would be looking for retirement planning. Those clients in a higher income bracket could be looking for estate planning. While business owners might be interested in business valuations. Using target marketing methods, you can better address the concerns and needs of client groups by matching them to particular service solutions.
About the Author
Paul Kowalski (or Pappy as he is called around the office) spent over two decades working at other agencies before opening Conach Marketing Group in 2008. The early part of his career was working with Fortune 500 clients at different agencies. However, working with smaller clients was his preference. This choice was because of the impact on a client’s business growth and forming closer, personal relationships.
When he was creating Conach, his goal was to bring those Fortune 500 strategies along with years of B2B marketing experience to small business marketing clients. As a result of focusing on business to business marketing, Conach specializes in financial marketing, financial marketing, and industrial marketing. Even though we are in Mid-Michigan, Conach provides marketing services to clients across the country.