Targeted Advertising: Get Efficient and Market Smarter

Technology is changing, and when technology changes, businesses
have to adapt as well. Only large companies with marketing funds to
waste can afford to do massive ad campaigns. It’s far more
cost-effective and efficient to think a little bit smaller and
smarter. Advertising in the 21st century isn’t about reaching as
many people as possible but about reaching the people that matter.
Not everyone is likely to be a good potential consumer of your
products, so getting advertising to them doesn’t help you. Today
it’s about
targeting your advertising
and zeroing in on the actual
relevant audience for your company and products.

Targeted advertising is essential, especially for small
businesses today. To do it well, however, it requires work and
investment. You have to put in the time to figure out who your
audience is and how to reach them. This is only really possible
because of new technologies like social media and big data. Now,
more than ever before, the information is out there. With the right
tools you can find the target consumers for your business and put
your brand in front of the people that matter.

Identifying Your Audience

A smart business owner knows better than to
try to market to everyone at once,” says Jason Hennessey,
marketing consultant for the Sobel Tinari Economics
. “If you find out the exact segment of people you’re
targeting, you’ll not only have a better chance of making
conversions, but you can make your advertising content more
specific as well.” That’s why the first step in developing your
new marketing strategy is to identify the potential customers for
your business. Even if you try to offer general and broad services,
consider specializing your services, or at least choosing some more
niche audience to offer a specialized version of your service

Targeting a niche audience is the only way for you to compete
with any larger firms in the market. It doesn’t require excluding
the other people that don’t quite fit your specific niche,
either. It just means focusing your branding and advertising on a
particular segment of potential clients. The best way to do this is
to start by looking at the clients you already have. What are the
commonalities? Are they close in age or live in a certain, specific
area? These are all possible features of a niche audience. You
should also
consider the competition
. You want to find a niche audience
that isn’t being effectively targeted by any other firms. What
sets you apart from them, and what specific audience does that best
prepare you for?

Identifying your target audience also means learning about them.
You need to study your audience and figure out not just the basic
service needs that define them, but the other intangible factors
that define them as well. Once you’ve figured out their needs,

think about their wants
. What are the fears and anxieties that
shape them as a group? If they’re home-owning families with small
children in a certain geographic area, worries about safety and
concerns for their children are important. If your audience is made
up of young, recent college graduates, debt and staying in touch
with friends are likely to be priorities. Of course, the best way
to find out more about your audience is to sit down and listen to
them. Send out surveys or start a focus group. Use online data to
search for more commonalities and traits in the group you’ve
already identified. The easiest method of all, of course, is to
give individuals to chance to directly share some of their values
and priorities.

Finding Customers

Part of your work while studying your target audience is to find
out where they are. That can be both physical and digital location.
If you’re targeting a specific group within a certain physical
area, you can effectively advertise to them with good,
old-fashioned print advertising, given that you can identify
exactly where they’re located.

Find out the types of spaces that your audience congregates in.
Use the new advances in AI and metadata to find out the websites
and publications that unite your audience. There might be
particular forums in social media specific to the group, or maybe
there are certain social media influencers that have a significant
amount of exposure with your target demographic.

Everything you can do to narrow in your range of potential
venues and sites for advertising
increases the efficiency
and lowers the cost of any potential
advertising plan you choose to pursue. The tighter the focus, the
less money wasted and the more you will be able to address your
niche audience directly with your quality marketing content. Then
you can continue to adjust
your marketing
campaign in the future as you observe results
and evaluate your audience’s response.

The post
Targeted Advertising: Get Efficient and Market Smarter
first on Social Media

Source: FS – Social Media Blogs A
Targeted Advertising: Get Efficient and Market Smarter