Most marketers think that proper targeting is all they need to run a successful campaign. After all, it only makes sense that if you target those that can afford your services and are actively looking for them - you will see high conversion rates. Right? Well, not exactly.
There are a few things to keep in mind with that approach.
That type of targeting describes a perfect audience not just for you, but for your competitors as well. This means that the leads you get, will also be the leads your competition gets and, to top it off, these will carry a higher price tag due to an auction-like nature of online marketing.
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So what can you do to avoid running after the same leads as your competition and paying more for doing it?
The answer depends on your overall business model and several factors.
One of these factors include affordability. How simple do you make it for a customer to purchase your services? For high ticket items - do you offer financing? Is that financing easily approved?
The easier your services are to afford, the lower the income bracket you can target.
Another important factor is intent. If you have a strong sales force and a one-visit close mentality that is coupled with a good offer, then your online campaign doesn’t need to be as strict. In other words you can target those who have a need for the product, but don’t have an active intent in purchasing it immediately.
The extent of those two factors and how strongly they should be applied to a particular campaign are extremely business specific and will differ from one company to another.
However, in all cases, your digital strategy stands to gain additional leads at a lower price with this approach.
Intuit Marketing offers a free pilot with all new clients, during which we find that balance for you 100% free of charge.
Reach out and see if we can help you.
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