Change happens in our fast-paced world, and if we fail to adjust we run the risk of going the way of Blockbuster. Remember Blockbuster video stores? I spent many evenings pacing the aisles looking for a new release or a favorite video in my youth. And now, they are all but gone. Why? They didn’t shift with the market.
Instead, let’s consider Netflix and their founder Reed Hastings. Not only did Netflix anticipate a coming shift in how we consume entertainment, they did it twice. Remember when they started? You had to go online, create your queue of movies and then those little envelopes arrived in your mailbox. Today that would never fly, but at the time, you could get what felt like a constant stream of content and all you had to do to get the next video was put the movie you currently had back in the mail to them.
That was a disruption to movie stores like Blockbuster, but not enough to slay the giant. Until…
Change Is Coming
In the first vision of Netflix, your neighborhood video store still got your business when you wanted to watch the new blockbuster (pardon the pun) because you didn’t want to wait for it to come in the mail. And then Netflix made watching movies even more convenient with their streaming service. Now, you don’t even have to leave your couch to binge watch your favorite show or the latest movie. This was the nail in the coffin for local video stores.
Adjusting to the changing marketplace is required if you are going to keep your business moving forward, but the few business leaders that anticipate a coming change are the disruptors that experience exponential growth. And change is coming in the digital marketing world. Your customers have become numb to the daily bombardment of ads they get from every direction. If you want to cut through the noise and effectively reach your ideal customers, you have to talk directly to them. We believe the next shift in marketing will be hyper-targeting.
What is HYPER-Targeting?
Almost every marketer today develops a buyer persona that gives you, the business owner, general markers, needs, and demographics for what they believe to be your ideal customer. It is the core of the pervasive inbound marketing strategy. Find your persona type and then say to the general public the things that resonate with your fictional persona. It’s not a bad approach. It’s way better than what marketers did before.
But what if instead of identifying a persona, you identify a person? Not a person-type, an actual person that has a name, address, family, job and specific interests. Until now that has been a fairy tale for marketers. Obviously, if you could identify by name your future buyers, then you would talk exclusively to them.
Until recently, this level of targeting has been impossible. But now, by layering several types of data that are available, you can identify the individuals who are your future clients. Identifying your custom audience allows you to focus on your most profitable customers.
Are you a roofer? Want to target homes that have suffered hail damage? Let’s identify every home that experienced more than one inch sized hail. Not only that, let’s identify homeowners in a specific financial range so that we are not only targeting people who have a need for a new roof but also have the means to pay for it.
By targeting your best and most profitable customers your business can transition from incremental profitability to exponential profitability. If you are interested in being part of a disruptive force to traditional marketing, if you are tired of spending with no clear way to measure the impact, or if you want to take a successful business to a wildly successful business, then let’s talk. And when we answer your call … don’t be surprised to hear, “Welcome to the Evolution.”