Stop wasting campaign budget
The backbone of your communication is the selected marketing universe, as no amount of clever salesmanship, compelling offers or attractive creative can undo poor targeting or low data quality.
Sending your message to an individual or business that does not qualify for your offering wastes marketing resources and time spent dealing with unserviceable customers.
Effective targeting for a campaign should be considered in 2 ways:
- Building an impactful way to reach your target market with minimum wastage
- Ensuring that the campaign is designed to qualify out potential time-wasters
Once you have determined you target audience in meaningful terms, you will need to understand whether there are selection variables available across the media options that will enable you to reach your market, while excluding people that do not qualify for the campaign.
For example;
- A B2B marketer with an offer for “25% off when you buy 100 ergonomic office chairs,” will need to consider whether the businesses they are targeting are likely to have a need for this many chairs, by determining how many employees an organisation has and how many of them are likely to be sitting at a desk.
A B2C marketer with an offer for investment properties will need to consider whether the consumers they are targeting are likely to have the capacity to cover initial costs and any ongoing requirements required to service the investment. This might be determined through targeting by age, income, home ownership, length of residency and estimated current wealth in terms of likely liquid capital.
Where key targeting variables are not prolific, setting up exclusions can be considered. For example, if a database is used for targeting solar products, low coverage of home ownership information might overly limit the target audience pool. Therefore, one might consider if there is a way to instead exclude known renters, to reduce wastage.
If your target market is difficult to determine with simple combinations of segmentation variables, you might also consider working with the list provider to build a bespoke lookalike acquisition model or a testing matrix. These options will enable you to create measurable testing deciles / cells for the campaign, so that the roll-out can benefit from learnings in campaign.
Navigating all of the segmentation variables available across all of the databases in market is no simple task, which is where an experienced, impartial list provider will be able to guide you in your selections, according to your goals.
