Are You Trying to Sell Your Products to the Wrong Audience?
Digital marketing tactics keep evolving, and so do the tools we use to measure our success. Although both facts mean that with the right research you can easily find your best customers, nothing about crafting a successful digital marketing plan is easy.
For instance, the fact that about 46 percent of brands have no digital strategy in place means they’re most likely targeting the wrong market segment. To avoid the same pitfall, here is a four-step guide to ensure that you’re targeting your most-likely-to-convert audience.
Step 1 – Research and Analysis
Before you formulate a marketing plan, you should analyze the market you’re venturing into, and see where you fit in. By conducting detailed market research, you’ll receive several key takeaways:
- You’ll determine the demand for your product, and can make reliable projections for production and possible sales targets.
- You’ll learn how to modify your product or service before you market it, ensuring you answer specific customer needs.
- You’ll be able to identify the best ways to reach your target audience.
By crafting a buyer persona, you’ll gather valuable information about your target audience – for example, how old they are, what their search habits are, what kinds of questions they need answered, and the problems they need solved. All of this allows you to tailor specific aspects of your campaign to these prospective buyers.
Testing your ideas on a focus group will tell you how successful your research has been, and how you can revise your plan for optimal results.
Step 2 – Competitor Research
Once you have a key target audience in mind, and a defined buyer persona, you can move on to researching your competition. Focus not only on your most direct competitors, i.e. companies who operate in the same area and offer the exact same services – but broaden your research to those who operate in the same field, and are most likely trying to reach the same type of buyer.
Analyze their website, paid ad campaigns, SEO strategies – in short, any and all manners in which they communicate with their target market. Subscribe to their newsletter and see what they send and how often. Find out what their best selling product or service is, and how you can improve your offer.
Step 3 – Explore Your Own Assets
Now that you have all this data at your disposal, you should consider what you have to offer, and how you can improve it.
To start, conduct a SEO audit to see how your website is performing and determine if there are any issues that you can fix. These changes are often minor, but can result in improved rankings, which will in turn help you receive more traffic.
In addition, you should familiarize yourself with Google Analytics, and see where your customers are coming from. For instance, if you’re earning traffic through social media referrals, you’ll know to continue focusing on this area. You should also find out what your most cost-effective channels are, and come up with strategies to improve your referral and organic traffic.
It’s also important to not focus on channels that your customers and target audience aren’t using. For instance, if you rarely receive mobile visitors, and most of your audience visits your site through a desktop computer, you shouldn’t increase your spend in mobile marketing.
Step 4 – Trial and Error
Finally, once you have complied this data and have seen what you can do to improve your offers and web presence, you’ll be ready to execute your marketing plan. You should be ready to craft a few campaigns and start executing them.
Set up a timeline for these campaigns, and after the designated amount of time has passed, thoroughly analyze the results. Did you get as much traffic and conversions as anticipated? Were you right in your assumptions about your target market? Which steps can you improve, and which should you abandon altogether?
Now that you have these four steps in mind, the time has come to put them into action, and utilize your knowledge to reach a better audience and boost your sales. Good luck!
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.