The segments you create should be realistic to offer you value. Keep in mind that the segments are meant to serve the business's best interests.
Targeting in the STP ModelÂ
Once you are done with creating segments, you need to evaluate those that perform better than others. The target in this model refers to choosing the segments that work better depending on the business goals. With the target, you must research the business opportunities in every segment.
After evaluating all the segments, choose the one that aligns with the product you are offering. Even though you may be tempted to use multiple segments to achieve success, it's almost impossible. The best thing to do is to pinpoint your choices to ensure that you have the right segment that serves you better.
By targeting a single segment at a time, you can easily establish measurable strategies to help you identify whether the results generated were expected. Since online marketing is steadily growing, it's essential to ensure that you target every segment as quickly as possible.
When you want to pick a particular segment from the options provided, you need to consider various factors to move in the right direction. The top factors you must keep in mind include measurability, accessibility, sustainability, and actionability.
Positioning in the STP ModelÂ
Positioning refers to creating relevant products and marketing strategies that fit a particular market segment. This is also the final and most important step in the STP model. If you don't get to understand how to position your product to the right audience; your marketing strategy cannot succeed.
At this point, you are free to use tools such as a positioning map and understand your USP. By evaluating the problems of your customers and the products you are offering, you should be able to offer a lasting solution. Evaluate the value proposition of your business that is likely to drive a competitive edge against other competitors within the same segment.
By understanding how to position yourself within the segment and advance what you are offering to your target audience, you establish a solid base that can boost your business performance. During the positioning process, you can decide to bring all the other competing brands on board to evaluate your position in the business.
Note that any service provider that can fulfill the segment's needs will cover the lion's market share. Also, the respective companies are likely to generate more revenue than others.
Importance of STP in Digital Marketing
