An expanding and disconnected market requires targeted marketing.
Every marketer wants to run that perfectly targeted campaign that gets maximum conversion within a given budget. But the truth differs significantly.
A business should ideally start by focusing on a certain audience characteristic. This could be an audience group, age range, specific taste, belief etc.
A business shouldn’t be generally focusing on a single audience characteristic. An ideal audience group may require a single or a combination of these features, where identifying that certain combination is a challenge for marketers.
Aligning Spends with Market Reality
As there are umpteen ways of spending a limited budget, a business owner needs to align the spending with his actual needs. These are the main diverse questions a marketer faces while segmenting his campaign expenditure.
1. New market opportunities – Seasonal requirements or New trends
2. Closing market opportunities – Passing seasonal requirements or Old trends
3. Spending on Different Market Channels – Balancing between search and social terms
4. Spending on Local or National market – To spend on National or Local Market
5. Decide on Brand Equity – Give a brand equity on a given spending
A successful business needs balanced spending for each of these aspects. This lays ground for maximum conversions while not overspending on a limited set of factors.
Though it is not universal, the below pie chart gives an average segmentation for a proposed local spending. The spending of any organization could vary according to the goals and customer requirements for an intended audience base.
many ways of spending your ad budget
Collect and Prioritize Business Keywords
All your Keywords are not made Equal; and finding the better ones is the key to your business.
If you’re unfamiliar with keywords, they are the definite search terms that users enter into a search engine for accessing a particular product or service.
If you are operating in a highly competitive market, your 1st choice of keywords would be already taken by competitors. In these scenarios you would be more productive by looking at the 2nd string of keywords. It’s linked to your core audience, who already liked and purchased your product.
This can be achieved only through filtering appropriate information about a particular client. Such a targeted marketing campaign can be realized on a CRM Account Management Feature, which collects and uses the relevant customer data.
Filtering appropriate Customer Characteristics
A CRM directly collects maximum information about each client. With direct inbuilt filters, you can iterate and find the most relevant feature concerning your target audience. This data allows you to efficiently target an audience group, through a set of highly selective keywords. This strategy is expected to yield better results and face much lesser competition.
Serve your Ads at the Right Social Platform
With its low engagement and low lead ratios, most businesses are starting to shy away from social media campaigns. Towards this, lack of content attracting the target audience and failing to concentrate on the right social media channels could be a reason for low turnover.
The internet offers numerous social and direct marketing opportunities such as E-mail marketing, Facebook, Linkedin, Instagram etc…With numerous available channels, choosing the right marketing channel is tricky. For example, E-mail marketing could be suited for a hardware shop, where as Facebook should be more accessible for a fitness enthusiast.
The CRM Analytics and sales reporting platform gives you instant feedback about the performance of each channel. It allows you to track the performance and visitor inflow through each channel. Now you can identify the most suited social channel for your business, enabling you to take your social campaigns closer to your audience.
Running PPC and Affiliate Campaigns
If you are running PPC or affiliate campaigns on 3rd party blogs or websites, you need to find the most suited partners. If you are advertising on a blog on irrelevant subject, it will drive irrelevant audience, who has ultimately no real influence on your web traffic. Before investing on each 3rd party website, you need to certainly answer these key questions.
Which blogs to Advertise? What’s the optimal cost for each Click on a perspective page? Can you get these clicks for a lesser price?
Rather than speculating, the CRM Reporting Analytics gives a direct report about your core audience. If you already have some customers, you can filter the key characteristics of your audience. This may include Age, Sex, Location, Group or some special features.
Classify your Audience characteristics
Based on these, you can identify the most relevant blog from a proposed list. This allows you to spend your budget on a core-target of audience, without wasting your time and money on audience segments unlikely to buy your product.
With Kapture CRM, you can progressively add new classifications to your audience list. It allows you to identify frequently occurring characteristics, which is specific to your audience. You can also derive custom reports, which gives a better idea about the impact of each classification.
Track and Optimize Offline Campaigns
Display your Ads directly to your Customers
While it may be easier to set-up offline campaigns, handling the rest is much more complex. There are many offline mediums including newspapers, magazines, papers, boards and banners. Without direct ways to track returns, optimizing these campaigns are harder.
Kapture CRM helps you track the offline campaigns through location tagging, allowing direct perspective on each audience based on a set of pre-assigned parameters.This displays your lead information directly onto a CRM dashboard, helping you track the performance of your offline campaigns.