Depending on your products or services, you will likely need to target specific segments or a number of segments. A segment consists of a group within a market that shares similar characteristics. These characteristics can vary from demographics to behaviors, interests, and more. Choosing the right marketing channel(s) will largely depend on these demographics.
As you create your product/service, you should understand the 4Ps in marketing: product, price, place, and promotion. Understanding the 4Ps will enhance your marketing strategy by identifying the segment(s) that find your product valuable and how you should engage those segments. Since the differentiating factors between segments dictate the communication method, understanding each segment in relation to the marketing channels is required. Here are a few charts the Pew Research Center published on social media awareness and usage based on demographic data:
Twenty years ago, radio and TV commercials targeted specific segments at certain times. Commercials targeting a mature target audience aired at midday when most retirees were home watching TV. Commercials for toys and games aired during afternoon cartoons. Today, other digital channels have gained popularity and become key factors in marketing strategies. Social media and other digital tools have become among the most prominent channels.
Notice that many of these platforms shape their environment to increase consumer usage and engagement. In simpler terms, these platforms seek to have consumers spend a lot of time on their platforms. A large part of their profit is from advertising. As users spend time on these platforms, they unintentionally produce big data, which the platforms capture and analyze. These platforms leverage this data to understand consumer behavior and interest. If you think about it, they conduct much of the consumer research for you. Now, publishing the right content at the right time is up to you. When you publish that content, many platforms use internal algorithms to match the content to consumer behavior and interest. Craft your message to capture attention and show value in a simple, engaging way.
Pew Research Center (2024). Social media fact sheet. Pew Research Center.https://www.pewresearch.org/internet/fact-sheet/social-media/?tabItem=5b319c90-7363-4881-8e6f-f98925683a2f
Comments