Improve Media Spend Amount Through Smarter Audience Targets

Media spend is an immense investment that, if not properly planned, can eat into a modern company’s profits. It accounts for more than a third of the total of all marketing budgets, and yet, a large spend doesn’t always guarantee a significant audience increase. What drives growth is employing a smart targeting strategy and letting it define how you manage your advertising budget.

From Better Audience Targeting to Effective Media Spend Allocation

Nowadays, social media is the go-to place for businesses that believe that the way to a customer’s heart is through advertising outside of traditional media. However, over 93% of them are active on Facebook only. In all truth, building a strong online presence requires showing up in more than just one platform, which comes with its fair share of competition, potentially making costs explode.

In such a scenario, you may find yourself paying more for the same visibility as always. To turn your business fate around, you need a lucrative targeting strategy that helps you attract clients in the right place, at the right time, and in the best way. And if you align your budget to a solid strategy, you’ll improve your media spend allocation and avoid overspending.

Six Excellent Audience Targeting Tips That Help You Optimize Your Media Budget Use

Without a proper targeting plan, you’re risking using your media budget almost cluelessly, potentially overspending on what doesn’t matter and underspending on what does. To avoid that, you must define segmentation tactics suitable for your brand. Here’s how:

1. Define Your Target Audience Precisely

This is your first priority.  Instead of solely leveraging basic demographics, define your audience by using granular behavioral data. Doing so offers excellent targeting precision and helps you direct part of your media budget toward relevant ads created for the right group of people. And if you want to significantly boost your odds of finding solid prospects, consider getting a superb targeting tool like, for example, GoAudience.

2. When Targeting, Use Data From Relevant Sources

Now, to get to know your audience like the back of your hand, you must use sophisticated intent data. Not only will these lead you to your ideal customers, but also help you generate conversions by practically outlining your ads. And once you understand the intricacies of your advertising process, you can make smarter decisions about how best to power its different stages with your media budget.

3. Use Your Resources on Segments That Drive Return

Often, you will not get the reaction that you want from everyone in your target audience. This is reason enough to invest in crafting ads for only the best-performing subcategories. Having better control over your ad budget means choosing not to waste it on underperforming sections.

4. Advertise on Suitable Platforms

Each target audience has a specific psychographic and demographic profile. And since much of today’s advertising is done over social media, it’s essential to know where to engage your target audience. A smart platform selection will show you how to allocate your budget to support your marketing efforts across relevant networks.

5. Customize Your Ads for Different Audience Segments and Platforms

Ensuring that your ads match the demands and expectations of specific segments isn’t all you need to do. To get a clearer idea of where every dollar from your media budget should end, you should also strive for a diversified campaign with different ads fitting the format and tone of different platforms. Finally, you must also align your media budget to your campaign’s long-term and short-term objectives.

6. Align Your Targeting Strategies to Your Business Goals and Changing Market Practices

Nowadays, marketers work with complex segmentation labyrinths, changing privacy policies, and other marketing phenomena that make effective advertising challenging and costly. So, how do you invest in your advertising efforts correctly, knowing this? You ensure that your targeting plan supports your brand’s growth, revenue, and recognition goals. And you stay on top of emerging market trends.

Navigating a Versatile Advertising Environment

The recent exponential progress of technology contributes to a highly competitive advertising space rich in different targeting tactics. On top of that, changes in data use practices and the prevalence of automated ad buying are constantly reshaping the way audience targeting works.

All things considered, marketers must always experiment. The “test and see” mindset is something you should stick to religiously! Therefore, toggle between targeting methods, and give different social media a chance.

On the other hand, of course, you must give your content enough time to bloom into its perfect form. Flexibility is key to staying relevant in today’s dynamic marketing conditions.

Your Targeting Plan Dictates Where Your Media Money Goes!

Optimizing your media spend depends on your audience targeting strategy. Your chances of properly allocating it are better if you can base your strategy on data-driven decisions about everything that constitutes the process of finding your audience. Once you align your budgeting plan to your targeting tactics, your business’s growth potential will improve.