No matter what kind of business you’re in, a significant part of your firm’s budget is probably spent on advertising. Every firm needs a steady influx of new customers to stay profitable. Once your client referrals run dry, turning to lead generation marketing is the next logical step. But does your marketing strategy try to hit the broadest possible audience? If so, you could be sacrificing quality for quantity. We’ll explain why audience targeting can actually boost your client acquisition efforts — and lower your monthly ad spend.
Step 1: Define Your Ideal Client
You may already know who your ideal client is, but if you don’t, let’s start there. How old is your average customer? What demographic information do most of your clients have in common (income, marital status, hobbies, interests, etc.)? Getting a good sense of your current customer base is the first step toward creating your new audience targeting strategy. If you’re starting from scratch, here are a few ways to gather key information about your customers:
Use Google Analytics for Audience Targeting Insights
After clicking “audience,” go down and open the “demographics” tab. This section breaks down site traffic by age and gender. Under “interests” you’ll find additional metrics for honing your marketing strategy. Imagine that you see 58% of your conversions come from Atlanta men aged 30-45 on mobile devices (see example screenshot below):
Ensure your site’s mobile-optimized and update your brand imagery. Then improve your audience targeting in that specific geographic area through Google local search display ads.
Create An Actionable Client Persona
You can use real-life qualitative and quantitative data to identify your best, most loyal clients. Find out what they want from your business, how you can serve their needs and identify potential pain points. Understanding your customer’s mindset can help you refine your audience targeting approach going forward. You can start by asking a few simple survey questions:
- When did you realize you needed our service/product?
- What problems does our service/product solve for you?
- Did anything make you hesitate before making your decision?
- What would make you switch to our closest competitor?
Keep surveys short and sweet (no more than 10 questions) and offer an incentive for filling it out. You might get some less-than-useful answers from people wanting something for free. If that happens, just exclude those surveys from your final analysis.
Tip: Tell respondents about how long this survey should take upfront. Try to limit it to no more than 5-10 minutes (shorter polls get more responses).
Step 2: Spy On Your Strongest Competitors
Want to know how Fred’s Insurance appears in the first page of search results after opening just two years ago? Take a look at his website to see what he’s doing differently that might help your business, too. Try a content research tool like Buzzsumo or EpicBeat (these services cost money, but you can demo them for free). Is your competitor’s website content-rich and optimized for SEO? Or is Fred spending lots of money on PPC, CPC and digital display ads? Maybe Fred regularly updates his blog, but your site just shows a map, business hours, phone number and contact email.
Go look at Fred’s Facebook page, Twitter handle, and LinkedIn business profile. If possible, find out whether he’s using an affiliate network to generate referral leads. Social media can bring in business, but success rates vary by industry.
Step 3: A/B Test Your Audience Targeting Efforts
Once you’ve created your initial audience targeting marketing campaign, try A/B testing it against your control. This is relatively easy through Facebook ads or even LinkedIn, thanks to their new audience targeting tools. Some test results are obvious right away; others might need longer to reach statistical significance. Once you’ve got your winner, expand your reach even further. Combining sophisticated audience targeting with a/b tests on each marketing campaign should help you spend less money for better results.
Audience Targeting Alternative: Outsource Your Firm’s Lead Generation Needs
If creating your own audience targeting campaign and going through multiple rounds of a/b testing sounds stressful, we can help. When you partner with LeadingResponse, simply describe your ideal client as well as how many you’d like delivered each month. We deploy an array of digital marketing channels using your defined audience targeting criteria to generate leads exclusively for you. That means we’ll never offer your prospects to any competitors, and you can relax knowing prospects are pre-screened for quality.
Want to see leads delivered in real-time so you can add a quality score rating for each new prospective client? Our optional, completely free Lead Management System (LMS) software lets you monitor your intake from anywhere with an Internet connection.
Faster Callback Times Can Dramatically Increase Conversions
Don’t want to spend another minute cold-calling your prospects? We’d love to handle that for you — 24 hours a day, 7 days per week, even on weekends and holidays. Our U.S.-based call center staff is always available to contact each lead, complete intake paperwork and even manage live transfers. This service isn’t free, but we also typically contact leads within six minutes of completing our online contact form.
Motivated prospects usually fill out several different contact forms for competing businesses, so response time matters for closing more deals. According to MIT study data, more than 65% of lead conversions happen on that crucial first phone call:
If you’re the first company among several to call that prospect back, you’ll increase conversions by 238%. For companies trying to close more transactions, there’s no better predictor than calling someone back quickly – especially after business hours.
When you partner with LeadingResponse, your business reaps the benefits of implementing a data-driven marketing strategy that utilizes audience targeting. Best of all, we take all that extra work off your plate so you can focus on closing new clients.
Get a price quote from us now and put LeadingResponse to work for your business!