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We all know that marketing is the foundation of any small business. The reason why we promote our businesses is that we want to get more business. Without marketing, our businesses would not exist.
But is it true?
Is your business really successful? Do you know the TRUE difference between your business and businesses like Nike, McDonald’s, Starbucks, Apple etc.?
These companies are successful not because they spent more money on marketing than all other companies. They were successful because they created a unique identity. No matter what kind of business you have or the service you offer, you need to market it your unique way. You want to make sure that people remember your business, and when they think of the solution – they think of YOU!
STP marketing Introduction
STP stands for Segmentation, Targeting, and Positioning. The idea behind this technique is that to be successful in marketing you need to focus on who your customers are, where to find them and how you’re going to position yourself next to the competitors.
One of the most important things about marketing is that you need to know your target group and communicate to them in a way they understand and respond to.
How does STP help in marketing?
STP helps you to identify your target group, find them and create communication that makes the competition irrelevant. Let’s see what it means in more detail:
- Understanding what kind of people are interested in what you have to offer. It is important to understand this so you can communicate with them through a communication channel where they spend their time.
- Once you know what kind of people are interested in your product or service, the next step is to find them and focus on them. You need to send a message that makes sense for each group and motivates them to reach out and contact you.
- Last but not least, once they get in touch with you, what are you going to tell them that makes your business unique? The idea is to create a message that separates you from the competition.
What are the 3 steps involved in STP marketing?
STP marketing model includes three steps – Segmentation, Targeting, and Positioning. These three elements are crucial to your success as a marketer. If you follow these steps carefully, you’re going to be able to keep the customers you attracted for as long as possible.
The first step in the process is to segment your audience. This means that you will separate them into different groups depending on their needs, wants, and interests.
You need to understand who your customers are and how they behave if you ever want to succeed as a marketer or any other kind of businessperson.
Once you’ve segmented your customers, you’re going to choose the ones that seem most interesting and target them specifically. You need to focus on those who are likely to spend money with you, and for this reason, it’s best to find out how much they earn.
The next step is targeting. This is where we get to the nitty-gritty of marketing. Once you’ve segmented your customers, you need to get their attention and make them notice you.
You will have to learn how your target group communicates online and offline. You can do this by joining relevant forums or fan pages and subscribing to magazines and similar publications.
You can learn more about your target group via social media – Facebook and Twitter. You can also use hashtags such as #retail or #marketing to get more targeted results.
Once you’ve segmented, targeted, and found out where your customers are, the final step is positioning.
For this step, you will have to choose the keywords that your customers are using when looking for products or services just like yours. You need to become an authority in your niche if you want people to take you seriously.
You also need to build trust with your customer by offering valuable content and sharing information on social media. This way, you’ll be able to build a relationship with them, and in the long run, they’ll feel more inclined actually to buy something from you.
The STP marketing technique is important for your business because it helps you focus on your target group to attract customers and keep them engaged for as long as possible.
What are the Examples of STP marketing?
There are several examples of successful STP marketing cases. Here are some of them:
1- Cola wars
The cola wars between Coca-Cola and Pepsi in the 1980s are a great example of STP marketing. These companies were fighting to become the most popular soft drink, so they had to position themselves correctly when it came to targeting.
Coca-Cola replaced their Coke with a “new” Coke. They also started advertising by hiring big stars such as Michael Jackson and Madonna.
Pepsi continued with sustained marketing and positioned itself as a new generation soft drink. They also targeted loyal Coke drinkers after Coke introduced the “new” Coke. They did this by positioning themselves as the reason why Coke introduced the “new” Coke. They were able to attract the Coke loyalists who preferred the “old” Coke.
Pepsi invested in advertising via different channels. They also did a lot of guerilla marketing that involved using different tactics to lure their target audience into drinking Pepsi instead of Coke.
Apple is another brand that uses STP marketing by giving the best user experience out there. The iPhone was launched in 2007, and people loved it. It came with a brand new design, and people were looking for the new Apple product.
Apple did heavy markets its product by positioning itself as an innovative product. Everyone wanted to get their hands on the iPhone and learn more about its features.
Today, Apple is one of the biggest companies globally, and this is thanks to constant innovation and a strong brand.
3- BT Plc
British Telecom is another great example of STP marketing. The company adopted STP model to cater to its various customer groups.
They target individual customers and other customers with different offerings. BT has developed lots of products and services that suit different customers. This way, they’re able to reach an audience that’s much larger than their original one.
They also position themselves as a forward-thinking company that offers the best technology, attracting more customers.
4- Virgin Holidays
Virgin Holidays is another good example of the successful use of STP marketing. The company created six different segments of its customers. They used segmentation, positioning, and targeting to promote holidays.
Nike uses STP marketing to reach a wide variety of customers. The company positions itself as a sports product and offers different products for different people, such as Air Force 1 shoes, Nike running shoes, or Nike+ training programs.
McDonald’s uses targeting by offering different menu items for different demographics. A teenager or a student would go to McDonald’s for a burger, while people who work their morning shifts might go for breakfast meals.
This makes it easier for customers to choose what they want and makes them feel more satisfied with their meal. This way, the company can attract a wider audience that will most likely return as customers.
These are just three examples of STP marketing. Plenty of other successful companies have used this marketing strategy to attract new loyal customers. As you can see, this is a very effective marketing strategy that you should consider when planning your next campaign.
How to make STP Marketing work for you?
The STP marketing approach requires you to make different decisions about finding your target group, especially now that there are so many options available for companies that want to expand their brand awareness.
STP works great in today’s digital age because it helps you become an authority in your niche without spending too. To make STP Marketing work for you, you will need to do the following:
- You’ll have to consider what strategies work best for your target audience and adjust your strategy accordingly.
- You’ll also have to start focusing on building a relationship with your customer and finding out more about their needs. Only then will you be able to offer them products that your target audience wants.
- You need to know who you’re catering to and what kind of product they’re looking for.
- The more you know about what they’re looking for and what problems they have, the easier it will be to build a relationship with them and get them to buy from you.
- You need to invest in new digital channels such as social media and content marketing for STP marketing to work.
STP marketing helps you boost your business and improve your chances of generating leads when people are searching for something specific.
Generating leads and closing sales is much easier once you have your target audience in mind. You will need a powerful marketing strategy to succeed as a business owner.
The more you know about your target audience, the easier it will be to sell them your products. Marketing is key in today’s digital age when people have so many options for where they shop and what they buy.