If there are any general similarities or common ground between the two target markets you can accomplish this goal with a single blog using target market-specific keywords and category names.
I have a client who is in the home improvement industry, installing replacement roofs, siding, windows, doors, etc. People who need a new roof for example, more often search with keywords and phrases focused on their specific need rather than something general like home improvement contractor.
We use recently completed projects as the fodder for content-based marketing. Blog posts include the town and/or neighborhood, county and state where the work was performed for geo-targeted keywords. We then include a generous sprinkling of "roof," "new roof," etc. along with product-specific words like the type and brand of shingles installed.
We also include a description of the initial problem the homeowner was experiencing that caused them to contact us initially, such as "leaking" or "leaky roof." We do the same thing with all of his other product areas and get a great deal of traffic.
One last trick is to use many of these same keywords as blog categories. I have seen great success with this tactic.
If what I've described makes sense to you and you'd like to learn more, please click "Call Frank" below so we can discuss further.
To your success, Frank

Good Question, but it's hard to give an good answer without knowing how different the segments are so I'll try my best.

I agree that you should try to have this under one umbrellas as much as possible. A good example of a company that I've seen do this is http://www.revzilla.com/ who is trying to target several different type of motorcycle riders. They divide the website into sections based off the type of bike people like to ride.

For your blog I would set up categories for the specific target markets so they can quickly find the content that they are interested in. Also you can set it up so the content can be emailed to the right segment based off of the category it is in.

Hope this helps!

Love your question: This is easy to do.
Within your blog create two RSS feeds - one for each market. The articles relating to each market need to have separate and different categories in the blog. Each feed is set up to only collate blog posts from that one category.
Here's an example of a client of ours who is a sports brand. They have three audiences: Coaches, Athletes and Coxswains (rowing crew).

http://www.rowperfect.co.uk/newsletter-signup/ Scroll down the page to see the explanation of the separate newsletters.

We set up a Feedblitz.com account for them and use these separate RSS feeds to deliver the content both as an email newsletter and also as an RSS feed for each one.

Get in touch if you'd like us to set this up for you. It's about 3 hours work in total.

Thanks, all! We do categorize already, but I'm looking for a more advanced blog plan -- possibly showcasing two mini-blogs on the blog homepage, if that makes sense. Appreciate your thoughts!

Targeting markets two or more than two is very much possible. There are people out there doing it, but to do it successfully you need to understand the blogs and history of blogs, once you understand what blogs are actually, you can target any market with them.
A Blog is a contraction of the term ‘Web Log’. A log, as we all know, is the written record of events/messages in a chronological order. It is like a journal or diary wherein people record events, experiences and observations. Therefore, we can describe a “blog” as a journal, which is available on the web. Technically, a blog can be defined as the chronological arrangement of a collection of text, data, images and other media objects recorded and retrievable through a web browser. Originally, blogs started out as static websites but over the years they gradually evolved to include many advanced features making them much more conversational and interactive in nature.
Although digital communities existed before the blogs in the form of Usenet, Internet forums, email lists and Bulletin Board systems, Justin Hall, who began his blog, Justin’s Home page in January 1994, is credited as the first blogger. Justin’s Home Page, which later became Links from the underground, had links and reviews of websites in existence at that time. In 1996 Justin Hall began writing an online journal, which had dated entries, each entry linked through an index. The term weblog was coined and first used by Jorn Barger in 1997. In 1999, Peter Merholz, playing with the term used ‘We Blog’ on his blog and the term blog stuck. Most early blogs were websites, which were being manually updated by the person maintaining the blog and knowledge of web technologies was essential if someone wanted to blog. However, the developments in technology made it feasible for the non-technical people also to blog and that was the turning point in the history of Blogs. Consider this, in the beginning of 1999; there were only 23 blogs as recorded by Jesse James Garrett, editor of Infosift. Jesse James forwarded this list to Cameron Barrett, who included the list on the sidebar of his blog “Camworld.org”. Soon he started receiving URLs of similar sites maintained by other people. Suddenly a community started forming around these blogs, since it was easy to read all the blogs on his list. Subsequently, more and more people started their own blogs and the numbers grew rapidly. In Jul 1999, Pitas launched the ‘build your own weblog’ tool, followed by Pyra Labs releasing Blogger in Aug 1999. Blogger caught the imagination of people and got blogging closer to the mainstream Internet users. The rapid growth turned into an explosion and blogging as a phenomenon had taken off. Today there are more than 200 million blogs in existence. About 2 Million blog posts are written every day and 400 million people read blogs every month. What started out as just links to other pages or personal diaries, blogs today have evolved to facilitate inclusion of media-rich content, scripts and also many interactive features to allow a two-way communication between the blogger and the reader.
Since blogs have been used in every conceivable way over the years and have covered almost all topics under the sun it is exceedingly difficult to try to categorize or truly classify each one of them by type. Hence, blogs have been broadly classified in the following ways: -
1. By Genre: Blogs that focus on a particular niche or subject are grouped under this category. Some examples are: Political Blogs, Celebrity Blogs, Art Blogs, Music Blogs, Sports Blogs or Travel Blogs etc.
2. By Media Type: Blogs can contain any kind of content other than simple text in its post, like photographs, videos, audio files or even games and therefore they can be grouped according to the specific media content present in the blogs. Using this form of classification, a blog that contains primarily videos is called a “Vlog”, blog that contains photos is called a “Photolog” and a blog containing links to other web pages is called a “Linklog”.
3. By Status of Publisher: Here the word “publisher” refers to the blogger. Therefore, blogs can be grouped according to its purpose as defined by the blogger as “Personal Blogs”, “Business Blogs”, “Corporate/Organizational Blogs” etc.
4. Moreover, studies were also conducted to try and classify blogs based on tags and even moods.
Why do People Read/Write Blogs? As I have pointed out earlier the simplistic features of a blog made it easier for individuals to start blogging and they did so for any number of reasons, be it as an extension of their passion/hobby, an outlet for expression of thought, to share information, opinions and knowledge or maybe just for fun. However, the underlying reason for reading or writing blogs remained the same: to be a part of a community. A place where they could have a sense of belonging, could gain respect from others as individuals, could express their thoughts without the fear of being judged, could contribute and where their voice would be heard. This aspect of human nature evolves from real life, wherein people tend to form groups or communities based on the similarities of their caste, religion, ethnic backgrounds, or common interests etc. Humans, being social in nature, have an innate desire to find other people that they can relate to and thereafter form a network of sorts from which they can gather all kinds of information and feedback relating to the real world. Therefore, if a person had to buy a product, he/she would rely on the direct feedback of the people within his/her network of friends or colleagues instead of relying on information given by salespersons or evangelists. Since blogs are written and maintained mostly by individuals for their personal reasons or passions, it is much easier to believe in the content as being honest and sincere in nature rather than believing in a celebrity endorsement or a magazine review for that matter. Of course, there are many other reasons for people to blog, which includes making money, self-promotion, connecting with their fans, gaining popularity, or becoming famous or simply because they love to write. Whatever the reason may be, at the heart of it all, it is getting into or keeping in touch with a community. Blogs allow this in an extremely simplistic and discrete manner and that is why they have such a large following.
How Does a Blog Work? There are three elements in blogging which are: Blogging Client, Blogging Platform and Blogging Host.
1. Blogging Client: The Blogging client is an application that allows the blogger to post content and edit it with the help of a text editor. The text editor may also have some add-on features that allow the addition of pictures, photos, or videos to their posts. Here, the blogger does not have to bother about creating web pages in HTML, as everything is included in the application. In other words, it is an application that allows the blogger to post, edit, format, and perform a variety of functions for a blog without launching a browser. There are two types of Blogging Clients available, one where you need to post content online, e.g. Blogger.com or WordPress, and two where you can post content offline, also known as Desktop Blog Editors E.g. Open Live Writer, Windows Live Writer, Thingamablog, BlogJet, Scribefire, Qumana, Blogo (For Mac users) and many more. An offline blogging client is something like an email client like Outlook Express.
2. Blogging Platform: Behind the blogging client is the software, which contains the code that helps you perform all the tasks explained above. It can be called the backend of the blogging client. The Blogging platform is hosted on a server along with the add-ons that include the software languages like PHP, ASP etc. used for creation of the client as well as the database like MySQL that stores all the content that is created with the help of the client. The code helps in creation and the presentation of the blog as well. According to PC world, the top five Blogging Platforms are Google Blogger, WordPress, Six Apart Typepad, Tripod and Squarespace.
3. Blogging Host: Every site on the Internet needs to be hosted on a web server. Unless a page or a website is uploaded on a web Server it is not available online. A Web Host is the entity that offers the web space and web server to publish and deliver web pages. Similarly, a Blog host is the host or a server that goes one step further and installs the blogging platform and relevant add-ons. With a Blog host, a blogger is freed from the task of installing, configuring, and maintaining the modules that make up the back end of the blog. For example, Google Blogger is a Blog Host available online where anyone can create a blog very easily in three steps and is automatically hosted on the Google server at Blogspot.com.
Now we come to the question of targeting the markets. To target two markets, market segmentation is advised, market segmentation enables a business to conduct strong market research into customers. It also enables in-depth market-based research. It reveals consumer experience insights, product development innovation approaches, suggestions for boosting customer loyalty, and more. Market segmentation can be split into four distinct stages within a larger market research method. This is separate from the segmentation divides themselves.
1. Set an objective: What is the purpose of this market segmentation process? Identify customer segmentation models and variables, then develop a hypothesis based on those findings.
2. Identify customer segments: Establish a research design, collect data, analyse the results, and develop your segments. This step will validate or disprove your hypothesis in part.
3. Evaluate the target segment: There are several potential consumers to choose from. To market segmentation, you must choose your most viable option and move your product forward from there. Think of this step as a service to your future customer base. Identify the most specific use case, and your company will be able to offer a more personalized product or service. Think of your company as a resource, not a selling point. This step-in market segmentation can be performed in a variety of manners. An online focus group is one fast and efficient way to discover new segments.
4. Develop market segmentation strategy: Select your target segment and identify the implications of this segment or persona. Make moves based on target segment, project goals, and product status.
5. Identify launch plan: Identify key stakeholders, ideate, and communicate the launch plan internally, then execute the project using your target segments.
There are 5 ways to break down your customer profile into unique segments, including behavioural, psychographic, demographic, geographic, and firmographic.
1. Behavioural Segmentation: Behavioural segmentation digs deeper into customer habits than demographic segmentation. It is also one of the most popular customer profile types to be integrated into marketing campaigns.
This type of market segmentation is comprised of behaviour patterns, like customer loyalty or engagement level. This is specific to customer interactions with a brand or company. Other behavioural segmentation variables can include:
1. benefit sought from product or service
2. readiness to buy or purchase
3. usage-based segmentation
4. common characteristics
Behavioural segmentation is used to gain insights into customer experience, allowing for improvements in customer success. Some questions to consider:
1. How engaged are shoppers throughout the customer journey?
2. What specific trends in timing or occasion do your customers tend to prefer your products?
3. How much time are your customers spending in the buyer’s process?
4. How does your business define a "good customer?"
Behavioural segmentation is also used for marketers to determine future customer leads. It’s also used in determining which prospects in the market are more likely to purchase your product.
Like psychographics, behavioural segments are primarily collected based on a consumer’s digital footprint. New improvements in technology compile metadata from customers in order to better understand their preferences. Unused data can be sent to customer support or used for marketing messages.
2. Psychographic Segmentation: Psychographics are a type of customer segmentation that focus on inner or qualitative traits. Psychographic segmentation variables can include:
1. habits
2. hobbies, activities, or interests
3. values or opinions
4. personality or attitude
5. lifestyle
6. social status
Psychographic attributes are the ones that are not obvious just by looking at your customer, like demographic segmentation. Instead, psychographics requires deeper analysis.
By defining a customer persona this way, you will be more equipped to tailor your marketing strategies. And you will appeal to customer tastes.
3. Demographic Segmentation: Demographics are the breakdown of your customer personas in the market for cursory traits like age or gender. These traits offer basic information on your customers, and are often considered one of the more broad segmentation types. Examples of demographic segmentation include age, income, family size, education, or gender.
Dive into these segments to cut down on time and resources to understand your target audience. Or tap into potential consumers that have yet to be honed in on. Demographics are generally less invasive to collect than other segmentation types.
Other demographic segmentation variables can include:
1. Occupation
2. Marital status
3. Political party status
4. Race
5. Religion
6. Living status (if your subject is a homeowner or renter)

4. Geographic Segmentation: Geographics are the study of your customer based on their physical location, which can affect more physical interactions in the market. Consumers grouped together in similar locations may share similar preferences. That’s why this type of market segmentation is great to pair alongside more abstract types, like behavioural.
Geographic segmentation variables can include:
1. city
2. state
3. country
4. population density
5. economic status
6. zip code
7. regional climate
However, geographic segmentation can also include geographic regions that are not technically defined, such as neighbourhoods. For example, consider a company that is advertising a subscription model lawn care service. The company would likely be more successful in targeting a suburban area where residents need extra yard care. The campaign would be less successful in an urban area, where consumers might be more interested in a food delivery service.
5. Firmographic Segmentation:
Firmographics are used to describe the attributes of firms or businesses. Put simply, firmographics are to firms and investors as demographics are to people. Companies can use this type of segmentation to determine whether or not a smaller firm is apt for an investment.
With millions of firms across the globe, businesses can use firmographics to identify prospects based on size, scale, and funding. Firms can also be broken down into sections of:
1. non-profits
2. businesses
3. governmental entities
4. agencies
5. small-retail shops
6. independent contractors
Investing in a smaller firm or company always comes with a risk. Therefore, investors have to be precise in segmenting venture opps in order to minimize that risk.
Segmentation variables for firms typically include things related to a smaller company’s potential. For example, before investing in a new application, venture capital firms look for company strengths. These can include things like the vision of the executive team or the product’s target market.
Other firmographic segmentation variables can include:
1. performance and annual revenue
2. average sales cycle
3. size and employee population
4. ownership (public, private, government, etc.)
5. organizational trends

Once you have created segments, keep an eye out for common mistakes that marketers and researchers make.
1. Making your segments too small or specialized: Segments that are too small will be more difficult to organize or inaccurate, and they can distract from your objective. Like sample size, an over-segmented group can yield data that is not statistically or directionally significant.
2. Not allowing your segments to change: Stay focused on ROI. If your strategy isn’t working efficiently for your business, it may be time to switch things around.
3. Ignoring new potential personas: Customer profiles change. Don’t get too attached to your segments, as they will evolve with the market.

Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath