An effective marketing team knows their customers. They know where to spend their marketing dollars to get the most effect and what messages will resonate with different groups. This customized marketing approach yields a valuable return-on-investment.
However, a one-size-fits-all approach to marketing guarantees marketers will spend more money for less effective results. When they don’t know their customers and their preferences, they must send a variety of messages using many different media.
Yet, many businesses don’t put much effort into learning about their customers.
Below are three examples of differences in customer behavior. You can see how different marketing strategies could be taken to meet their preferences and needs.
- If your customers are primarily women, you need to know they behave differently from men. Marketing to women expert Marti Barletta writes about consumer behavior frequently, but in one particular post, “Guaranteeing Sales Success with Women,” she emphasizes that women are risk-averse and value warranties and guarantees more than men do.
- If your customers are young, from 18-33, 80-89% of them can be found on social networking sites. But of those 74 or older who use the Internet, only 10-19% engage in social networking sites. This information is from Pew Internet.
- If your customers are older and affluent, they might be choosing an urban lifestyle rather than a retirement community. Boston Consulting Group’s Michael Silverstein reports on his firm’s research that these consumers enjoy cooking at home and increasingly have more time to learn new hobbies.
How well do you know your customers? How many of them are women? What age groups buy from you the most? What are their incomes? Being able to answer these questions will help you customize your marketing plan with strategies that will reach your customers without wasting time and money on people who won’t buy from you.