Audience segmentation is an important aspect when it comes to marketing. It is the difference between marketing unnecessarily to unreceptive audiences and getting a low ROI versus targeting specific audiences that boost ROI substantially. It can be challenging to determine your business’s particular audience, but sometimes there are markets sitting right under your nose that need just a little effort to identify. One demographic to serve is active military members and veterans.
Active-duty members of the military and veterans make up a decent chunk of the population, though they rarely receive targeted marketing campaigns for their shopping habits. Marketing to military members and veterans could help you get an advantage over your competition while also solidifying them as lifelong clients.
With the many benefits associated with marketing to military members and veterans, now is the perfect time to dive into this demographic to serve. Here are four reasons why extending your marketing efforts to this specific audience will be beneficial for your business:
They Have Unique Needs
Being in the military means living a distinct lifestyle. One of the most glaring differences of being in the military is that moving from place to place is often a part of the job. Orders can change on a dime, and it isn’t uncommon to hear about military families moving once every couple of years or so.
Moving, of course, is not an easy task. In fact, most people would rank it right up there with their least favorite things to do. Because members of the military move so frequently, they require good real estate agents who will meet their needs, work with their busy schedules, and provide trustworthy advice and recommendations. For example, if you wanted to sell your military home, you likely are on a pretty tight timeframe. As a real estate agent, it’s essential to know how to get this done quickly and effortlessly.
Whether you’re a real estate agent or own another business, you need to give military members a reason to use your services. Expertise in marketing to military members will include offering specific services or benefits you wouldn’t necessarily suggest to other clients. Furthermore, many military members prefer working with people they have built a rapport with over time. This means that once you have a military member as one of your clients, you could have a client for life.
They Make Up a Huge Market
Have you ever stopped to think about how big the military is? Not just active members, but also veterans? It’s huge. Which means there’s a massive market for your marketing efforts to reach. Let’s break down the numbers:
- There are currently 1.3 million active members of the U.S. military.
- Many of the 1.3 active members have spouses and children.
- The average salary for an active military member is $51,584
- Active military and veterans account for a whopping $1.2 trillion in spending power.
When marketing to military members, it would be wise to provide the same deals to veterans as well. Especially because when you market effectively to military members, you are giving yourself access to a group of people that could be hugely beneficial to you and your business. By recognizing this group and showing your appreciation for their service, you could have a loyal customer base for a long time. 90% of service members say they feel incentivized to shop somewhere if a military discount is offered. This is why military marketing efforts are such a great idea.
They Extend Their Opinions to a Large Audience
Once someone joins the military, they enter into a unique association where they can share their personal experiences with others for the rest of their lives. You may have even seen it play out with friends or family. One person meets another and mentions their service, then suddenly, the two talk for hours, swapping tales of what it’s like to live a life in uniform.
This tight bond also spills over into other areas of life. Members of the military often look out for each other, which rings true especially when it comes to finding a good deal.
If you successfully market to a few military members, you are likely to have several more follow. Furthermore, if you develop a reputation as someone who treats veterans and active duty with the respect they deserve, you are likely to gain even more customers and retain the ones you already have.
They Develop Lifelong Relationships
Members of the military can be a loyal group. So much so that you might find that you have a lifelong customer and someone you can build a genuine connection with when you take the time to meet their needs.
Remember, marketing to active military and veterans is a bit of a different game. For example, you want to be clear that it is about something other than your business. If you are offering a military discount or running a special specifically for active duty and veterans, it’s best not to have your logo flashing all over the place.
The people serving our country make a genuine sacrifice when they enlist, and they want you to show that you understand that determination. If you can build trust with members of the military community and market to them effectively, you will have a whole group of people as clients and possibly even friends.