Have you read our blog post on the first Series #1 topic? If you have not, make sure you visit the blog post here.
Nowadays, businesses are using advertisement to reach their target audiences. There are plethora of tips and tricks can be found online for businesses to do advertisement effectively.
Today, we’ll look at the second panel discussion for Series #1: Advertising. The topic discussed during this session was ‘The best practices for businesses to use ads targeting‘.
Budgeting is an important facet that business owners will always need to look at. We all want to spend our budgets wisely while advertising our businesses smartly to reach the right audiences and, in turn, generate more sales.
Let’s look at some takeaways from this session:
1. Know Your Target Audience
There is no right or wrong audience. The right target audiences are those who already buy from you. All you need to do is to educate audiences to buy your products. To persuade them to purchase, you should make a buyer profile to understand the buyer persona and know their buying habits. You can also observe your competitors to see what they are doing and how their audiences react. Knowing your target audiences well will allow you to craft content that will attract them and convert them into customers.
2. Invest in Market Research
One of the common mistakes businesses make when planning their adverts is jumping straight to running their adverts instead of doing market research before planning them. Creating adverts without knowing your audiences’ profiles, behaviours, and interests will lead you to target the wrong audiences who do not have the potential to become your customers. Thus, it will not bring you any results.
3. Create an Optimisation Strategy
When looking for optimisations, you need to understand what you are looking to optimise. After you understand what you want to optimise and have all the metrics and KPIs, this is where you can start building optimisation strategies. For example, optimising your social media posts’ visuals and copy could attract new audiences and convert them into customers.
4. Observe Your Data
By collecting website data, you may learn that when people visit your website, they stop somewhere and stop interacting with your website. The data could show the reason why people stop taking the next step—does your product not solve their problems, or is it not attractive enough? Based on the analysis, you can plan ways to get them back to your website and take further action.
5. Determine the Effectiveness of Your Adverts
a) Objective
When determining whether or not the adverts work, you can look at whether the adverts have achieved their objectives. Different objectives will mean looking at different metrics. For example, the objective could be raising brand awareness or increasing the conversion rate.
b) Revenue
People often think that revenue is the only factor that determines if their adverts are successful. However, the result of adverts does not come right away. It takes time. Focus more on the results that bring lifetime value to your brand.
Final Thoughts
Advert targeting is important for anyone running adverts for their business. It determines whether your ads successfully reach the right people at the right place and right time. Thus, before targeting the right customers, it’s strongly recommended to conduct market research. Research will help you better understand what your audiences like and where they are, assisting you in crafting effective adverts for your products and services.
We are pleased to have Wintson Tham, Assistant Business Consultant Manager, Exabytes, as the moderator. The panellists included: SweetEe Chin, Head of Marketing, Amazin’Grace; Adinda Katrina Sudradjat, Growth Strategist Manager, Prihal Data & Creative Studio; Sheila Ashameeta, Growth Strategist Manager, Prihal Data & Creative Studio and Jerrick Yeoh, Senior Digital Marketing Manager, Exabytes to share with the audience about the best practices for using advert targeting.
Want to learn more? Watch the full panel video, ‘The Best Practices for Businesses Using Advert Targeting’. You will get more than you expect!
