Businesses love to think that anyone can and would use their product, and they famously say “my target audience is everyone.” However, this simply isn’t true, and honing in on the group that’s most likely to buy your product helps you sell more and sell better.
What is a Target Audience?
A target audience is a group of people at which you aim your product or service. Your business’ target audience will be determined by a variety of factors — essentially, by data — which you’ll use to create an ideal buyer.
The Factors of a Target Audience
A target audience is defined by factors such as age, gender, race, income, location, interests, lifestyle, education level, and more. But these factors alone are meaningless by themselves. Marketers need to understand the consumer behavior that’s born from these factors.
Consumer Behavior is Everything
Consumer behavior refers to how people of different groups use and buy certain products to fulfill their needs and desires. Defining a target audience means understanding those needs and desires, which vary according to demographics, which is where these factors of age, gender, and so on come in.
Before, people were more similar in their preferences, something experts call a Mass Culture. Now, our world is more diverse than ever — not only is it more obvious how different everyone is, but we have more choices and preferences than before. Understanding consumer behavior is key to finding your audience among a sea of unique buyers.
To make the most of your strategy, you should segment your audiences. This means that once you understand which consumers you’ll target based on their characteristics, you should divide them into groups with commonalities and then create an approach for each group.
Alongside data, you can segment audiences based on things like the stage of the buyer’s journey, the benefits your consumer’s looking for, how and why they use your product, the occasion, and more.
How Do You Choose A Target Audience?
Choosing a target audience requires data and research. In the US, data is being gathered constantly, about everything, giving marketers and businesses plenty to work with. However, knowing how to interpret the data and turn it into a marketing plan requires knowledge and training.
A target audience will depend largely on:
- What you’re selling
- Where you’re selling it
- How you are selling it
Your data will tell you how different people in different places respond to and choose to purchase your product, allowing for more successful marketing efforts.
Why Do Target Audiences Matter?
Target audiences are essential for understanding consumers and their behavior, specifically, how they purchase. While businesses used to believe that consumers would make rational decisions about their purchases, it’s been proven that consumers make irrational decisions based on emotions, and sensory stimuli, like colors.
This is important because each person, depending on their age, gender, race, etc, will make those irrational decisions differently. If we understand consumers, we can better understand how they come to purchase. This process allows businesses to maximize their return on investment by knowing the trajectory of a consumer’s journey to buy, and create better marketing strategies that fit that audience.
Defining an audience doesn’t limit it, but actually increases your sales and your return on investment. Instead of spreading your marketing budget too thin by trying to appeal to everyone, you’ll quickly gain the trust, attention, and dollars of those most likely to buy.
Marketing to Your Audience
The internet has created consumers that are much more informed than before. We will read reviews, watch videos, and do research before buying. We’re also influenced by packaging, colors, brand reputation, and more. Therefore, a marketing strategy requires an understanding of the factors that may influence your audience to target the right demographic and have a bigger ROI.
Once you’ve defined an audience, your marketing plan should take them into account every step of the way: what colors do they respond to positively? How will they relate to the product and your brand? Where will you target your ads? What approach will you implement in one city versus another?
Time and again in your marketing journey, you’ll find yourself going back to that audience to help define your strategy.
Facebook can be an excellent tool to market your business and gain a wider audience. If your business has ever posted on Facebook, you’ve probably seen the option to “boost” your post for a small charge. But Facebook also offers Facebook Ads through a separate Ads Manager. So, what’s the difference, and which one should you use for your business?
Let’s take a look at both options, understand what they are, and which one can bring real results and real customers to your business.
What Are Boosted Posts?
A boosted post is any post that you can pay to show up as an Ad on Facebook for your choice of audience. Your post will appear on the selected audience’s News Feed. They’re pretty simple because you can boost any existing post, and there is no need to design a brand new one.
What You Can Customize on Boosted Posts:
- Your Target Audience: In your target audience, you can choose age, gender, location, and interests. Facebook doesn’t propose ideas for interests, however, so you have to know these beforehand.
- You can choose your budget.
- Define the length of your boosted post.
There is not much you can optimize on boosted posts. Some benefits you can experience from these are page likes, shares, comments, and brand awareness. Once you have boosted a post, you’ll have the advantage of audience research, which will let you know what performs best.
What’s a Facebook Ad?
Facebook Ads, created through Facebook Ads manager, offer advanced customization— they’re especially known for their robust targeting capabilities. These can be optimized for website conversions (e.g. appointment requests or purchases), video views, app installations, shop orders, and more. They also offer analytic options, define campaign goals, and track ad engagement. oo
Facebook’s targeting options are one of their biggest draws, and are renowned in the digital marketing world. You can choose three types of audience:
- Core Audience: You have all the targeting options of a boosted post and more, including job, education, behavior, and connections.
- Custom Audience: Target your own database of people who’ve engaged with your business — even if they didn’t do it on Facebook.
- Lookalike Audiences: Target people who have similar interests and profiles to your best customers.
Benefits of Facebook Ads
Specified Ad objectives:
Facebook Ads allow you to choose more specific objectives that boosting simply can’t offer. Some of those objectives include conversions, store traffic, sales, appointments, and more, which directly impact your ROI.
When you establish these specific objectives, you can align your campaign with your business goals, so that your campaign is working with your greater marketing strategy and not just alongside it.
When you create Ads through Facebook Ads Manager, you’ll have creative control over your ads so they can fit your branding. You can add descriptions, have sliding images, include call-to-action buttons, and more. More creative freedom allows you to build a brand and remain consistent in branding while getting more sales.
Another benefit that only Facebook Ads provide you with is ad scheduling. This feature lets your ads appear in a specific timeframe and on a schedule that works best for your business and target audience. This makes sure you spend your budget more wisely, and show your ads when they’re more likely to gain you a new customer.
Facebook Ads give you the opportunity to choose where you want your Ad to appear. You can select placements in Messenger Ads, Audience Network, Facebook News Feed, Instagram stories, and more. Having these options helps you create a stronger and more strategic marketing plan that will yield better results.
Use Facebook Ads for Better ROI
If your goal is to maximize your campaign objectives, obtain better audiences, generate leads, and build a significant following, Facebook Ads will benefit you more in the short and long run. Boosted posts are only helpful building with awareness and engagement. Meanwhile, Facebook Ads allow you to do that and also capture real leads and convert them on your site, for measurable ROI.
Build Your Facebook Ads with Hyvemark
At Hyvemark, it’s our priority to help your business grow. One of our most popular services is building Facebook Ads campaigns. We create ads on social media that will make the most out of your budget through detailed targeting, conversion targeting, and campaign monitoring, to get you appointments and sales.
Contact us directly to start. We provide you with ROI-driven marketing solutions that will help you with long-term growth.
ompanies want marketing that works. But what does “work” mean? Some marketing agencies will define a marketing campaign that “works” based on an increase in your following on social media, the number of customers, likes, or pageviews. But these numbers are meaningless without revenue — more specifically, revenue that surpasses what you put in.
As a business owner, you are probably keeping track of your investment and what you’re gaining, so you can determine what is working, what isn’t, and how to invest more efficiently to make the most out of your marketing spend.
However, sometimes you may be focusing on the wrong factors. In the end, return on investment is what will tell you if your marketing is giving you what your business needs.
Here is why return on investment is much more significant than vanity metrics:
Why ROI Is More Important Than Vanity Metrics
As previously mentioned, it’s important to measure results to identify areas of improvement. Marketers often use vanity metrics such as follows, likes, favorites, views, impressions, and more — in fact, according to Hubspot, only 35% of marketers think understanding ROI is important. However, these metrics do not measure success or how your business’s performance is impacted.
How to Identify a Vanity Metric:
Vanity metrics can make you feel good about your marketing, but they’re ultimately empty data because you can’t use it to measure the impact on your revenue. Here are some ways you can tell if you’re looking at a vanity metric:
- It doesn’t help you make a business decision.
- These numbers are random.
- They’re seasonal/variable.
- You can’t tie it back to a customer’s action, i.e. a call, appointment, purchase
It’s dangerous to focus on vanity metrics that aren’t attached to a stream of revenue. A way to find out how your marketing efforts impact your business objectives is by measuring conversions.
This doesn’t mean that you shouldn’t pay attention to engagement, but they shouldn’t determine your success. Consider using your marketing budget for conversions, and your internal efforts for engagement.
A Focus On Conversions
Vanity metrics, or organic engagement, are easy to obtain, and reporting them can be of some use. However, it cannot be the only focus. Marketing spend and efforts impact profits and sales, and these should be the number one priority. One of the best ways to focus on ROI is to look at conversions.
When it comes to conversions, you can see how much you’re making from your marketing efforts. Understanding when and how a potential customer becomes a real buyer is more valuable than whether they like your page or not. You can improve or optimize that moment of conversion, allowing you to replicate the results and get more sales.
Traffic is necessary for conversions, but it doesn’t equal more conversions. The key goal is client conversions and retention, which impact the business’ bottom line and revenue. It’s better to focus on conversions and metrics that enhance conversions, such as customer lifetime value.
Create A Marketing Strategy That Will Give You ROI
At Hyvemark, we help you connect the dots between revenue and activity. We focus on getting you a return on investment and seeing actual revenue come in with our strategies.
Our integrative approach to marketing, which includes data analysis, ensures we create strategies that will benefit your business bottom line in the long-term, so your return on investment is always positive.
If you have a project in mind, let’s start talking about your goals and how we can partner with your business. For any additional questions about what we do and how we can help you obtain a positive ROI, get in touch with us now.
Choosing to do digital marketing for your business is a no-brainer — choosing the right agency to handle your digital marketing requires a little more time. Aside from being a reputable agency with proven strategies that focus on real results, there are other less obvious boxes that your choice of agency needs to tick off.
To have the best outcome with a digital marketing agency, you need:
An integrative approach.
The right agency will not just try to sell you a Facebook Ads service or convince you to spend your entire budget on pay-per-click ads, with no consideration for your marketing and business needs as a whole. An integrative approach will consider: What is the goal? Can market research help improve your digital campaigns? Can your website give the customer what they’re looking for?
This approach ensures:
- That you’re getting your money’s worth by targeting actual customers, and not just “anyone”
- That your agency is considering a comprehensive marketing strategy, beyond just digital marketing
- That you’ll see real return on investment (ROI)
- That your marketing efforts have a long-term impact on consumers