211 Know Your Audience
http://www.byroningraham.com/podcast/211-know-your-audience Advertising is a way of life in today's world, especially if you want to put your message in front of your ideal clients and customers. However, before you spend a single dollar advertising your business, you absolutely must know who your audience is and who they are not. The more you know about who you are wanting to market your products and services to the better. It is easy to succumb to the temptation of running ads to simply get your message out there, but that is wasting resources. It does more than simply waste financial resources on the business end, it results in a loss of opportunity. Imagine for a moment you are running a special promotion for a product. If the wrong audience is seeing your message, you will ultimately end up leaving money on the table as potential customers will not see your message. There is another downside of not being spot on with your targeting, creating disillusion of your brand. For example, it wasn't too long ago while watching the Super Bowl I saw ads on my Facebook newsfeed promoting a chicken wing restaurant in San Antonio. While I'm sure they have a great product, there was no way I was going to travel there from Dallas or even eat there since I do not consume meat. When an ad is displayed to the wrong audience, it can generate a negative response from individuals. So what's the best way to know who you should market to? Begin with looking at who your best clients are. For any business that wants to create growth, the best way to do it is to attract more of your best clients. These are the people who invest in your premium products & services or do business with you on an ongoing basis. You will want to identify as many traits about them as possible. Naturally, you will want to identify demographic data, but you will want to target behavior as well. Demographics will only go so far in terms of targeting your ideal clients. Behaviors, when used properly, will narrow down who should see your message and who does not. For example, if you are selling an online product, targeting individuals who make online purchases would be beneficial. This is why you must know as many details as possible about who your ideal client is. What's next? As with any marketing campaign, you absolutely must test various audiences to see which will respond to your message. There is a temptation to use a single audience and call it quits, but that is simply just the beginning. In any and every online advertising campaign, you absolutely must constantly refine your ad campaigns as each adjustment can substantially increase your results over time. The main reason why you must refine your ads is ideally you will want to increase your ad spend to attract more clients and customers. If a campaign is not optimized with a low ad spend, it will result in wasted dollars as the budget increases. Take the time to get to know who your ideal client is, and create audiences to market your product to them. Just remember that it will take time to discover the right combination of demographics, interests, and behaviors to generate optimal results for your business.