THE IDEAL CUSTOMER: ME
My experience as a customer has made me think about how nutraceutical marketers seem to ignore me.
I am in a market segment better qualified as “grumpy old people” (GOM).
I know I’m in it because my wife keeps telling me. Old. Irritable. Curmudgeonly.
And I feel ignored by the supplement companies.
How? ‘Or’ What?
For one thing, I have subscribed to many online alternative health newsletters. What I have received is invariably so widespread that I feel like the companies sending them don’t even know I exist.
This is surprising, because I outline two of the main criteria of an ideal client.
First, I have disposable income that I use for supplements.
Second, I am very, very concerned about how to slow down age-related health problems.
It’s only a beginning.
If you do a good research, you will know some additional useful marketing information for me and my GOM colleagues.
Like everyone, we have some typical needs. We want to feel important. We want you to know us and recognize our biggest health issues.
Talking to me and my GOM colleagues will also tell you that we don’t see ourselves as ‘old’. We despise the feeling of being obsolete or removed from the mainstream youth culture.
We are increasingly concerned about longevity.
We are readers and seekers of information. This feature alone makes us susceptible to advertising.
Okay, there are a few major characteristics you can use to persuade me to know you, like you, to trust you … and to buy from you.
GOMs represent more than 10% of the American population. Adding our age group women to the equation more than doubles the size of the market.
I am more than just a customer who feels ignored.
I’m also a marketer who figured out how to hit the market cap for my segment. And the strategy I discovered works for all other market segments as well.
My experience marketing a paid subscription newsletter illustrates what I have found.
The conversion rate hovers around 30%, with subscription renewals at around 75%.
This is a very good conversion and a very low unsubscribe rate.
What I did was first look at my list of free subscriptions to find just one demographic – other seniors with similar health issues.
Then I sent this group to a landing page specifically designed to meet their needs.
EASIEST WAY TO REACH THE TARGET
What I have described is widely known to marketers who use email marketing.
This practice is known as list segmentation.
In other words, carve out a particular segment from a larger subscriber list, and then meet the particular needs of that segment.
Conceptually, this is nothing new. It just capitalizes on the old marketing adage of finding what people want and then delivering it to them.
There are three key elements to what I have done that apply to all markets.
1) Define and select a target segment from a larger list.
It’s pretty straightforward, as email hosting services have already put in place the technical steps of list segmentation.
2) Create compelling marketing copy that presses all the hot buttons for that segment. This is crucial in getting people in your target segment to take the actions you want them to take, which is to buy your products.
In a nutshell, this step is all about communication. If Anthony Robbins’ definition is correct (and it is) – communication is the result you get.
If people aren’t buying, you’re not communicating.
3) Rinse and repeat for each segment you want to achieve.
There is no limit to the number of segments you can define in your list.
I mentioned a few. The number seems limitless.
My best writing mentor ever, Joshua Boswell, once mentioned that he broke a client list into 72 segments. 72!
My experience is not unique. It’s a common story that applies to every marketing segment in every industry.
Wait, there is more!
BONUS BENEFIT FOR YOUR KING
Discovering high-value customers through list segmentation also has a beneficial flip side. It allows you to eliminate “deadbeat” subscribers.
I don’t mean to be cynical here. The truth is, you’ve probably built your list off of a bait, some sort of free offer. It’s a good start. People love free stuff.
However, the vast majority of people who get free information won’t buy from you. They’ll probably even ignore your emails, never unsubscribing. They stay on your list forever, buying nothing.
While it can be confusing and maybe even boring, it can also be costly. Email hosting providers charge more as your list grows. Eliminating “eternal non-buyers” allows you to narrow your list to actual and probable buyers.
Thus, the cost savings can be substantial. And spending time and money only on those who stay can skyrocket your ROI.
So far, I’ve just described the concept of list segmentation and what you can expect from it. This is clearly a fundamental strategy behind successful email marketing.
Of course, all the high-tech bells and whistles of list segmentation still depend on persuasive copy. Ultimately, that’s what drives every marketing strategy, regardless of the platform.
This is where I come in.