Benefits of Targeted Advertising: How to Identify Target Markets?
With costs going up every quarter, coupled with ever shrinking marketing budgets, companies need to make the most of the resources at hand. Digital marketers know that given the constraints of decreasing manpower and especially money, it becomes all the more important to ensure that every single advert they put up should garner enough clicks; clicks that convert. Blog covers methods to implement targeted advertising, ways to identify targeted advertising markets and benefits of targeted advertising.
It is simply not enough to put up adverts out there. Companies, by all means need to make sure that the right potential consumers are clicking on their ads. After all, every click means that the company needs to pay to the host. If you are getting a good number of clicks but your conversion rate is low, it means you are not targeting is not in place.
4 Benefits of Targeted Advertising
Targeting is the buzzword in the digital marketing industry and rightly so. By serving ads that are targeted ensures that only those people who are potential consumers will get to view your ads.
Also, you decrease the likelihood of appearing as an irritant to the audience. Relevance is what matters in the online world and ad targeting ensures this. Let’s look at some benefits of targeted advertising that your business—big or small will derive by having a strong marketing strategy that is driven by targeted ad solutions:
1. Relevant Leads:
Online ads are mostly considered to be an irritant, something that needs to be done away with. Users consider online ads to be nothing more than a nuisance, especially if the ads are not relevant to them.
Irrelevant pop up ads can bother users so much that they may install pop up or ad blockers. Thus, reaching out to the right consumers with extremely relevant ads is a challenge that marketers need to live up to.
Marketers need to ensure that their ads appear as organic part of the website, so that users don’t feel they are clicking on an unwanted piece of ad. By using targeting options, you can ensure that your ads are displayed to only those users who are highly likely to click on them, and who will find the ad interesting and not intrusive.
2. Less Wastage
Would it make sense to blast your ad across the entire country, if your business operates only in one state? Probably not.
A large percentage of users may see no use of your ad at all and will have an unnecessary ad spend. Blasting ads to users who are not your target audience can also lead to such users completely blocking your ads, which can further lead to brand erosion.
So, instead of wasting your marketing budget, it’s wise to aptly send targeted ads to the right audience group, who may be grouped according to their location. This way, your ads reach to suitable users only and that means more return per penny of investment, and of less wastage of valuable resources.
3. A win-win for all
When people will see adverts selling, services, products or experiences that they feel are relevant or useful to the, they are more likely to click on such ads. This will increase the click-through rate, meaning, the users will get to see only relevant content, the publisher will get more ad revenues and the marketers/advertiser will get more conversions and higher ROI.
4. Brand Building:
Targeted advertising can go a long way in building your brand and creating a loyal base of customers. A survey found that most Americans value free content, as 75 percent of those polled said that they want the content supported by advertising rather than a paid subscription.
Thus, as ads become more targeted, you can touch base with genuine customers, generate new leads, and constantly evolve your brand by providing highly customer-oriented services. Targeted Ad serving solutions enable marketers to enhance their brand value and become highly customer-oriented.
Targeted Advertising : How to Identify Market?
Whether you are starting a simple blog or a major online retail shop, there is always a target audience for your content, products or services. Considering and addressing this is important because it will help you develop the appropriate content for your website.
Frequently, entrepreneurs and investors like to refer to their target market as everyone. While this may sound appealing, it is not practical. In reality, you have to zero in on potential customers or clients until you get to the specific group of people who both want and have access to your products and services.
These are the people on whom you will most likely spend your advertising and marketing efforts. With all that said and done, let’s now get to the nitty-gritty of how you can narrow down who is within your target audience.
1. Define Your Target Market
Attracting the attention of your target clients is always a critical step, and this is still the most challenging part of the process.
However, according to renowned marketing experts, before beginning to advertise your products, it is essential that you get to know the “why,” “who,” “when” and “how” of your target customer base.
Answering these questions is an important part of selecting a target audience:
· The “why” helps you know why clients need your products or services.
· The “who” focuses on the simple demographics of your potential customers like their gender, level of education and age. Besides, it may also add a little information related to your product or service.
· Thirdly, the “when” narrows down which seasons or times your services or products will be in demand.
· Lastly, the “how” answers how they will find your business on the internet.
2. Collect Information to Generate Customer or Client Profiles
Gathering the right data offers you a greater chance of creating the right customer or client profile. Simply put, the right customer or client profile always echoes the actions of the market segment you are targeting.
You can use online questionnaires, Google analytics and customer surveys to collect data. In addition to helping you develop the right client profiles, the correct data will facilitate a closer connection with your customers or clients.
3. Research Your Competition
Learning from your competitors also provides you with insights into what you will be competing against. You can visit their websites and social media platforms to check out how they market their products and interact with their customers.
Additionally, you can dig deeper and read client reviews on the various products and services that are similar to what you are offering. This will most certainly give you clues and tips on how to tailor your products and services.
4. Avoid Standard Methods
There are always traditional advertising and marketing methods that you should avoid when defining your target audience. At the top of the list is to avoid the use of slang and jargon when describing what you are offering. Descriptions that are simple and to the point are always good.
Secondly, when writing articles to promote your products, ensure that the articles are authentic and that your customers can relate to the content. Lastly, stay focused and be patient. Identifying and winning over your customer base always takes time.
Target Advertising Methods: How to Implement?
No matter whether you’re offering a brand of clothes, garden tools or essays like here, you still have to find the best approach to potential customers. Therefore, you might find useful these strategies on how to advertise and promote your website.
To begin with, it should be underscored that your e-commerce platform cannot be efficient by itself and will require a supporting hand from other sources. There are plenty of methods that can be helpful in online marketing, however, we offer you a list of 3 most popular and experience-proven strategies that will definitely enable you to receive benefits of targeted advertising in wholesome.
Besides this, you will find a short list of commercial tricks that can improve your credibility before customers and bring you to new heights of marketing.
1. Content Targeting
This method implies a constant refilling of your blog with videos, images, articles or any other content that, which is attractive to possible customers. The point is to create the most appealing look of your product’s primary source, hence a website that will convince potential buyers that the company cares not only for their income but for the buyers’ needs and the quality of a product.
Let’s take, for instance, socks. If there is an upcoming holiday, like Halloween, then you get a marvelous opportunity to introduce your items in a new light by creating an article on your platform saying ‘Make sure you choose a cool outfit for that Halloween party’.
There, you give a few pieces of advice on matching clothes like a shirt, pair of pants, shoes and, more importantly, your socks. Apart from recommending the season’s main colors and trends, you add to the post suitable pictures of your product used as a part of an outfit and a link transferring readers to your order menu.
How then does it work? In an attempt to dress up for a Halloween party a restless fashion-lover will find your article that will give them an idea of what to wear and your product, socks, will become an inseparable momentum.
Maybe, they won’t buy it right away by they will definitely add your website to bookmarks just in case.
Even though this idea is quite bright, it still requires a thoughtful approach in order to make it functional.
Consider the audience’s age, social class, trends and dwelling place. Doubtlessly, you are not able to hook everybody but your aim is to find a certain group of people always willing to worship your product.
This method is one of the oldest since the beginning of the web and doesn’t take a lot of resources to be used; however, Emailing provides good results since your online shop will always be on everybody’s A-list.
- Don’t bother receivers with repeatable advertisements but update them and always expose new or upcoming items. A big variety of products increases the chances to have something bought.
- Simple content and articles are usually not as effective as offers and deals. People are keen on buying only when they see a profit for themselves.
- Try to avoid naked promotions aimed at encouraging people to purchase things. Instead of it, combining content and product advertisements will prevent your marketing strategy from appearing too commercial.
- When the content and approach are determined it’s time work on the e-mails’ design. If messages are swamped in memoirs and have nothing but bare text, it resembles those annoying spam e-mails. This should be avoided by adding pictures, nice fonts, banners and well-elaborated hyperlinks.
- The mailing marketing strategy completely corresponds with the content strategy designated above. However, it should be minded that e-mails from online platforms are usually regarded as spam by the receivers.
Therefore, it’s important to make them concise and catchy for the reason of glamouring potential buyers, not scaring them away by vague adopting online store advertising methods .
3. Social Media
This method is definitely the ‘freshest’ and most used nowadays since social media has become an inseparable part of our routine. It requires only partial participation of the promoting website, whereas the rest is conducted by customers themselves.
The variety of social media resources is quite wide and gives you a superb opportunity to experiment and try out new approaches.
If we think back and take into consideration the socks store, we could arrange a contest of the best picture with the product or, simply, ask people to tag others under a post, which will randomly bring one of them a reward in the form of a free pair of socks.
Putting aside theory, here is a list of ideas that can work along with any of the mentioned above strategies for allowing you to get maximum benefits of targeted advertising.
- Regular discounts and offers: – It’s obvious that people prey for good deals instead of buying a product for its full price. ‘13% off for a Halloween costume’, ‘20% off for Mother’s Day’, ‘Buy the 2nd item for a half price’, etc.
- Provision of free samples:- while paying only 1.99$ for shipping can help you build trust with customers and demonstrate to them the quality of a product.
- Cooperation:- Cooperation with people who are always in the public eye, e.g. photographers, models, fashion designers and make-up artists can promote you up to the sky if you’re in the beauty business. For instance, you provide a photograph with a certain amount of your products and ask them to use it in their photoshoot.
- Wholesales: It’s always a nice way to encourage people to buy more, supposedly, paying less. E.g. offering to buy a set of foundation cream, liner and lipstick of the same brand costing 25.99$, whereas each of them has a price of 9.99$.
- Also, you can offer your own customers to be your promoters in exchange for certain benefits, e.g. a discount, a free item, or advertising. In this case, all they need is a sample of your product and a good smartphone frontal camera. If they make a review on your online shop this will definitely encourage their friends to do the same and follow you.
Benefits of Targeted Advertising : Conclusion
All in all, there are various means of promoting your online store. Moreover, there is no need to stick to only one strategy and entrust in it. Imagination, inspiration and consistency can definitely do wonders. Thank you for reading the blog benefits of targeted advertising and how to Identify target markets?
Buckle up, work hard and best of luck!