In a crowd online space, creating advertising that will cut through the noise, be seen and understood by your target audience, and generate revenue is no easy task. Key Targeting Issues Today .
If you don’t know exactly who your target audience is, what channels they use, and what motivates them to buy, you’re throwing money away.
It’s a very expensive risk – research shows small business email list that nearly half of digital advertising spend is wasted.
For brands and agencies working together, inconsistent data or outdated sources equal inaccurate targeting.
The task is further complicated by changing trends in global media consumption:
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- Broadcast television still accounts for the majority of total broadcast time, but its reach is declining as connected television (CTV) and free, ad-supported streaming services grow in popularity;
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- Generation Z prefers to research a product on social networks rather than in search engines, and expects to receive even more personalized results. Due to this, the importance of social SEO promotion increases;
- Due to the lack of money, more and more people want to see discounts in advertising and are less concerned about the reliability of the business.
How to Adapt to Changes in Media Consumption
In light of these trends, it is important 8 skills you need to become a digital marketing manager for companies to review their promotion strategy and adjust their media plan to reach their target audience.
What should be take into account?
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- The so-called “attention economy”: consumers use multiple devices simultaneously and switch between platforms, their attention is fragment and not focus in one place.
The only option for a brand is to stand out: by placing media on the channels your target audience uses and using the formats they love, you will spam data increase your chances of breaking through the noise and leaving your competitors behind.
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- The fact that new advertising channels and types of publications are emerging . Let’s face it – new channels and formats will always appear, and this needs to be kept in mind.
For example, 22% of global consumers said they watched or listened to a podcast in the last week, up 13% from three years ago.
However, prioritize your spending on the channels your audience uses. You can also experiment with a smaller portion of your budget to attract people to new platforms.
But before you take any risks, base your next step on solid research into your target audience.
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- The need to reach your target audience. Increasing the number of leads is great, but if they don’t convert into customers, then you’re wasting your money.
Use as many sources of consumer information as possible to create a detailed customer profile and get closer to them.
This way, you’ll know what types of media content match their interests and where to focus your efforts to increase conversion.
Setting clear goals and KPIs as a step towards successful media planning
Before you begin planning your media campaign, setting specific, measurable goals will help you stay on track and identify the content formats and key channels to focus on.
When choosing a KPI, think about at what stage of the marketing funnel your target audience “drops off” and what actions you want them to take.
Estimate how much you’re willing to pay for a user to take that action and what value it represents to the business in terms of ROI.
Perhaps you want to increase the reach of your paid social advertising to increase brand awareness and engagement, or create an engaging video to boost sales of a new product?
If you’re not sure what’s most important yet, here are four of the most common promotional goals to consider:
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- “I want to expand my audience”
Focus: brand awareness.
KPI: reach, impressions, clicks, likes, reposts, comments, overall audience growth, cost per 1000 impressions.
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- “I want to increase the conversion of leads into clients”
Focus: quality lead volume.
KPI: total number of potential customers, click rate, conversion rate, lead converted to sale in %.
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- “I need to make my small advertising budget work more effectively”
Focus: relevance and effectiveness.
KPI: cost per click, cost per lead, cost per 1000 impressions, ROI/ROAS.
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- “I want to retain customers and increase revenue”
Focus: Customer re-engagement and expansion (CX).
KPI: engagement rate, click-through rate, revenue, high renewal rate, low churn.