How To Improve Your Marketing ROI With Audience Definition

Spending money on a marketing campaign with less than satisfactory results can be a very frustrating process for a company. However, this is not a rare occurrence and can affect more businesses than is acknowledge in the marketing world. If you are unhappy with your Marketing Return of Investment (ROI), then take a look at how defining your audience can help.

What is Audience Definition?

Audience Definition is a term in the marketing world that describes a company’s process of identifying the best customers who are most likely to produce a favorable outcome for the company. In other words, it is the act of successfully determining who is most likely to purchase a company’s product. It is a vital component to running a successful and profitable marketing campaign.

Guesswork is not good enough.

All too often, marketing strategists fail to correctly identify their target customer base. The “strategy,” unfortunately, for many marketing plans, is to guess who the most ideal customer may be. When a company fails to use hard data and statistical analysis to identify their ideal audience, then their return of investment is going to be poor at best. Quite simply, every time you guess about your audience, you throw money into a dark hole.

Another failed approach for many companies lies in the philosophy that it is best to target all possible audiences. This is a mistake for most companies, as the money dedicated to ad campaigns will not generate the desired revenues. When a company instead focuses on proven data for a targeted group of individuals, they are much more likely to see a positive response to their advertising campaigns.

Strategic marketing requires effective research and analytics.

With the appropriate research and the right analytics, business executives may be surprised to learn who their target base actually is. A good data program goes a long way in analyzing months and years of campaign results and revenue. Effective programs and teams focus on more than just the usual demographics; they go beyond age, sex and socio-economic backgrounds. Companies lose a potential customer base when they fail to look at deeper factors.

Failing to identify your best customer base results in wasted expenditures.

Audience definition can help you spend less money on your ad campaigns, as you learn who and how to target. Mailing out ads and strategically placing pay-per-clicks focuses the money you do spend on those prospects that are most likely to respond positively to your ad campaign. This generates more revenue as you produce a conversion, or a positive outcome, for your business.
When you attempt to market to everyone, you spend more money with less conversions, resulting in a poor ROI.

Interested in learning more about Audience Definition? Check out MindEcology.com for effective marketing strategies today.

How To Create A Marketing Campaign

This last holiday season, my husband and I each participated in an office gift exchange. My company did a Yankee Swap. Everyone bought a present that they thought would appeal to most people in the office, and people could choose to open a gift or steal one. It’s fun, but the gifts are always pretty generic. I got some movie rentals, candy and microwave popcorn. My husband’s gift exchange was a Secret Santa, where everyone buys a gift for one specific person. He received tickets to his favorite sporting event. Winner winner, chicken dinner.

His gift was so much better because the giver knew EXACTLY who was going to get the gift. They knew their audience, they knew his likes and dislikes and therefore were able to come up with a gift that was perfect for him.

When it comes to creating a marketing campaign, you want to be more like the Secret Santa and less like the Yankee Swap. By defining a specific audience for your marketing campaign, you can tailor the campaign in such a way that it grabs their attention and motivates them to take action. If you don’t define your audience, you’ll end up with at best a generic campaign that gets ignored, at worst a offensive campaign that actually upsets the very people you want to attract.

How do you define your target audience?

Defining your target audience is basically answering the question: who do we want to do business with? The easiest way to answer that is to look at the people you already do business with.

What is their age and gender?
Where do they live?
What do they professionally? What are their hobbies?
What types of problems do you solve for them?
What types of products and services are they most interested in?
Now that you have a good sense of who your current audience is, you can define your audience for your specific marketing campaign.

Do you want to market only to your current clients?
Do you want to market to new people who are like your current clients?
Do you want to market to a subdivision of your clients? For example, people who have bought a specific product in the past or people who are a specific age.
Do you want to expand your target audience? For example, if your current audience is women age 18-29, perhaps you want to expand that and market to women in their thirties.
By this point you should have a good idea of what your target audience is like. Write out the target audience definition so you can refer back to it as you create your campaign:

Women in their thirties who are mothers that work outside the home and live in Orange County, their problems are time management and budgeting.

Now what?

As you move forward with the creation of your campaign, always keep the definition of your target audience at the forefront of your mind. When determining content, promotional hooks, even different marketing methods, you should always ask yourself “will this appeal to my target audience?”

Brianna Alexander is the Communications Strategist at One Step Services, a marketing company in Orange County, California. This article is part of a series on how to create a marketing campaign. To read other articles in the series, visit http://onestepservices.com/blog