For any marketing campaign to be truly successful, it must be developed for (and broadcasted to) your target demographic. By using pinpoint marketing tactics to reach a strategically selected target audience, businesses can increase their revenue while simultaneously lowering their average acquisition cost per customer. Today, we’ll discuss how creating a documented target audience and marketing funnel can help you locate qualified leads, acquire return customers, and adjust to unfavorable marketing results effectively.
Analyze your Target Audience
As we’ve mentioned in our previous posts, understanding who your target audience is (including their goals, preferences, and dislikes) is absolutely key for a successful pinpoint marketing campaign. When creating the persona for your target audience, take their industry, professional values, and need for your product or service into consideration. For example, which member of the company will you interact with? What internal struggle led them to seek outside help? What are your customer’s problems and how does your product or service help solve them? Get to know your customer and their business.
Understand how they are using your product beyond what they are telling you. Additionally, you should incorporate accurate and relevant information in the process, using case studies, surveys, and proven statistics to develop your target demographic. Once you’ve built a substantial portfolio for a qualified target audience, create a persona for a negative target audience. A negative target audience will represent leads that you are not interested in selling to, whether it be because of their stage in the marketing funnel, a high acquisition cost, or other factors.
Develop a Marketing Funnel
Once you’ve developed a strong understanding of your target audience, it’s time to create a documented marketing funnel. The purpose of a documented funnel is to allow you and your team to visualize how you will reach your target audience, and offer them enough value to transform them into a buying and engaged customer. Marketing funnels often come in two forms:
Linear Marketing Funnels: A linear marketing funnel is considered the traditional funnel model, and is capable of supporting both inbound and outbound marketing features.
Non-Linear Marketing Funnels: A non-linear marketing funnel is a new concept that is rising in popularity among marketing professionals for its flexibility and admission that customers can enter at all different stages of the funnel. Like linear funnels, it can be effectively used to support in and outbound marketing tactics.
Funnels often include a minimum of four sections. Each section is used to determine:
- Awareness: How do customers become aware of the product or service you are offering?
- Opinion Development: How do they develop an opinion of your product or service?
- Consideration: How do they compare your brand to your competitors?
- Deciding Factors: What value do they see in your product that ultimately makes them decide your company is best suited for their needs?
Once you determine how your target audience approaches each of these situations, you can determine which inbound (or outbound) marketing efforts are best suited to reach them; then, you can actualize those strategies into marketing campaigns.
Analyze your Results
Once you’ve begun to see results from your targeted marketing efforts, measure how accurate the representation of your target audience and funnel was. Start your analysis by determining what outreach strategies were most effective; if possible, do extra research to determine why they were so successful. Many companies will find that the time of year, a changing social culture, or the tone of the content used made the difference between a successful and unsuccessful campaign.
Pinpoint marketing has grown tremendously thanks to the analytical tools we can access on the internet. Start using pinpoint marketing campaigns in your company by analyzing your target audience, using a combination of case studies, surveys, and internal data for reference. Not only will this give you a clear idea of who you are selling to, it will also give you direction as you begin to build your actual funnel. At Elevation, marketing strategies and digital advertising executions is something we specialize in; if your company is lacking a documented marketing strategy, or needs a strategy that can provide measurable results, contact our team to learn about your options.