Targeting will narrow down your audience so that you can pin point you advertisement in front of their eyes. Targeting properly means you will be spending less on advertising, but also making more money from your advertisements.
When you take the time to determine who you really want to advertise too, it will mean your sales team is in front of the right customer, so it saves your time and will stop you from pulling your hair out working with tyre kickers.
So what is Targeting and how do you implement a targeting strategy. Targeting is really narrowing down as close as you can to your ideal customer. I think a few examples will really help to illustrate my point. Now I am going to use Facebook, because Facebook advertising is really one of my favourite advertising channels. Unlike television, newspaper or online deal programs, you can target to a specific type of customer. And with over 13 million Australian Facebook users spending between 8-12 hours a week on average, you can see why I choose it as one of my main advertising platforms for my customers.
So to help you understand how to do targeting, I will use a fictitious conveyancing solicitor as an example. Our fictitious company is called ABC Conveyancing. ABC Conveyancing is a smart business, they know that their ideal customer they want to speak with are young married couples between the ages of 28-35 living in Sydney. So using this information we will jump over to Facebook and see how targeting can help us to achieve a profitable Facebook advertising campaign.
So the first choice we make is of course Sydney. This brings the audience from 13 million down to 2.7 million, quite a sizeable change, but not anywhere near where we want to be.
Next let’s choose our age range. So we now choose 28-35. Wow, look at that change, we went from 2.7 million down to 630,000! That’s over 2million people we won’t be wasting our money on to show advertisements too.
But we aren’t finished yet. Lets put in our final criteria. Remember we wanted married couples. So lets choose married and whoa, look we have our audience down from 2.7 million to start with to 190,000.
So you can now see when you know who your audience is and choose a dynamic advertising medium like Facebook, you can make your advertising dollar have a much better return on your investment and save a lot of headaches by being in front of the right customer.
I want you to know, this is just a basic exercise we did. We go significantly further with our clients (and even in our free strategy sessions).