Target Marketing is one of the oldest trick in the books. The most recent example that I can think of occurred during ‘The Bachelor’ finale (no I swear I wasn’t the one watching it). Where better to spend your advertising dollars for ‘Beauty and the Beast,’ one of the most anticipated movie premieres of the year, than in front of millions of viewers waiting to see who would receive the finale rose. I honestly can’t think of a better demographic for advertising that movie than this show. Unfortunately most smaller businesses don’t have hundreds of thousands of dollars to market their product to the right demographic. Every dollar is precious for smaller companies and you should know the right ways to find your target market on social media.
Whether you are a brand new business or you’ve been around for 30 years, you should have an idea of your demographic and who you want to be marketing to. Recently I learned more about one of my client’s target markets with Facebook’s ‘page likes’ advertising option. Now before going into this advertising campaign, I already had a small idea of what their market was from the couple of hundred page likes. I was able to see who already likes the page and use information my client told me.
Using the ‘page likes’ advertising option you can get a better idea of the people that are liking your page. This option will help get you more likes and help you get a better grasp of your demographic, but it will cost you a little money. For the ad below, the average cost per like at the moment is $.60, but with some testing and tweaks can be lowered in the long run. The recommended average cost is around $.23 per like, but is easier said than done. During one of my recent page like campaigns I used the option “lookalike audiences.” With this feature, Facebook will target your ad to an audience that looks very similar to the people that already like your page. I have seen success from this and recommend you try it out as well.
The Audience Insights section is another powerful tool that is very helpful for finding your target market, that is if you know how to use it. A free feature that can be found in the business manager, it gives you a large amount of demographic and behavioral data about you and your competitors. You already have the basic insights section of your Facebook profile, but audience insights is like that on steroids. You can get the basic demographic data of your company, but then you can dive deeply into their job titles, salaries, lifestyle choices, page likes and much more. This will not only show off your target market but it can also show your competitors and let you create a custom audience tailored around their target market.
When advertising on social media, I would recommend narrowing your audience and not advertising too broadly. This is when audience insights becomes very useful and allow you to advertise to the exact target market for your brand. If you are still having trouble, Roundpeg is a content marketing company that can help you on your social media campaign.
Learn more about what to do once you pick your audience and make those contacts. Grab a copy of our Social Networking Guide