Concentrated marketing strategy involves directing all resources and efforts of a brand to market its services or products to one segment of its targeted audience.
Many businesses consider different marketing strategies or strategy to advertise or sell their products. They may reduce their resources and build customer trust with a concentrated marketing strategy.
Determining which marketing strategy you choose will help in business depends on the products and the type of audience segment your brand is targeting.
Understanding concentrated marketing will help you decide whether this type of strategy will help your business. In this article, we discussed what concentrated marketing is, its benefits, and how it will help businesses attain results with fewer resources.
The beneficial approach companies are following is concentrated marketing. With this strategy, you narrow down your efforts and use fewer resources, and a much-targeted audience, too, gets more loyalty.
What is Concentrated Marketing?
Concentrated marketing is a marketing strategy in which a business or company focus only on one target group of the market for all its initiative. Companies use concentrated marketing emphasis on how their product matches their niche or audience.
They define their marketing segment depending on different segments such as gender, shopping habit, race, age, personality, or interest.
For example, you can define your target audience depending on different factors such as
- People with certain Health Conditions
- Movie Lovers
- Peoples lives in rural areas
Once you know your market target audience, you are fine-tuned to go to apply your concentrated marketing strategy to a smaller but targeted group of people that promises profit.
How Concentrated Marketing Strategy Benefits Your Business
Concentrated marketing can benefit your business in a different way. if you have a small business or startup, you can get a large number of results from this strategy with fewer resources.
Any business can use this strategy if they have a well-defined niche target audience to benefit from this strategy in the following ways;
01. Customize Your Brand For targeted Audience
Marketing and campaign strategies will be personalized based on your audience and customized according to their interest and habit of purchasing. You can customize your products according to the niche.
02. Reduce The Number Of Resources
Your company or business will likely use fewer resources to market or advertise your product or services to the targeted audience. You will market or advertise your products or services more effectively with a reduction in resources.
03. Position You As An Expert
Your company will easily become an expert in that related field, which will greatly enhance your company image and boost your sales. With concentrated marketing strategy you can easily scale your comopany and idnetify where your company stands.
04. Easily Analyze Compagin and Strategy
With contentrated marketing strategy you have less number of data only related to your target audience and you can analyze it easily, can use for betterment of marketing.
Smaller data is a positive as it takes less time to analyze and use in compagins for effectiveness, allows you to take actions quickly.
05. Build Customer Loyality
When marketing meeting your customer needs can build trust of your custome that leads to long term. The more their needs met, more likely the trust your brand. By sticking to remain with one type of niche your create sense of exclusvity.
06. Easier To Monitor Compaigns
When concentrate your all amrketing stratgies on particular tyoe of audience, number of compititor drops down make it easir to you to monitor the particuler group of businesses.
How Can You Use Concentrated Marketing Strategy
The way you use concentrated marketing depends on hw large your busines is and where you stand and do you want to expand it. Concentrated marketing strategy can use as stepin stone for yiur busness slowely building trust with your customers and then growing.
The steps to get started with concentrated marketing strategy is as follow;
01. Conduct Research
Conduct research to find your niche, behavior of audience. Important to find is financial condition of customers, their behavior, resource and capabilities of your company.
02. Define Target Customer
Importantly define your buyers or customers in this market.
03. Identify Buyers Acitvities
Identify where your target audience spends time more bith online and ofline so you have better idea to run compaigns.
04. Content Marketing Plan
Create content marketing plan for your audience in same language and remain in same tone, tailored your voice makes you unique in your niche.
05. Plan Concentrated marketing Strategy
Plan your strategy, monitor your targeted chanels and where you are getting more traffic. Include events around you and dont forget to partner with influencers.
06. Monitor Your Strategy and Execute
Execute your Concentrated market strategy and monitor it reularly. Modify it when you learn about the behaviour of your customer. Kepp modifications and updating content of your strategy.
5 Succesful Concentrated Marketing Examples
Here are top five example of concentrated marketing examples
A leading watch manufuctrer creates different compagins to attracts the target market. Main strategy of them is, famous artists, influencers and media personalities wears watches which main way if strategy fir them.
The luxury car manfucteror mainly target their customers with concentrated marketing strategy about the 120 countries from all over the world. The luxury brand target the person with at lear $30 million in cash.
Justice is clothing company mainly targeting the girls with 6-12 with concentrated marketing strategy across the stores in US and Canada. Justice keep on targeting teens not theor parents. Every justice promotion focouses on their segment of the target in their app.
They are also offering teens to play some games on the app. Justice app also enable females to share their thought on app how world can change.
Munchkin, a toddler and infant products company mainly targeting the parents of some age group of their niche. One of their tactic of marketing is Blog wjhere they posting the photos of parenting. They also wokring with parenting freelancers who show their products as sponsored content.
One of the high quality watch makers uses conentrated marketing strategy to reach out their customers in the world.