Confirm the integrity of your data

Never before has there been a greater need for a reliable, holistic marketing measurement tool. In a world of fractured media and consumer interest, intense competitive pressure, and lightening-speed product innovation, the sheer volume of data that must be analyzed and the decisions that must be made demand a more evolved approach to attribution and decision making. This need for speed has brought into bright focus a mandate for reliable, consistent and valid data, and the potential for challenges when there are errors.

The attribution category has been evolving quickly over the past decade, and there are myriad options from which marketers can choose. Recent research conducted by Forrester suggests that leading marketers are adopting the newest and most advanced approach: Unified Measurement or Total Marketing Measurement models. This analysis combines the attributes of person-level measurement with the ability to measure traditional channels such as TV. Marketers who upgrade to and invest in novel solutions – financially and organizationally – can find a competitive advantage from smarter attribution.

The greatest of these instruments answer problems such as the optimal frequency and reach in and between channels and determine which messages and creative are best for which audiences. New advances in these products are providing even more granular insights concerning message sequencing, and next-best message decisioning based on specific audiences and multiple stages of their buying processes. The best of these solutions incorporate external and environmental circumstances such as weather, travel patterns and more. Furthermore, capabilities of today’s solutions produce insights in such a timely fashion that agile marketers can include those insights into active campaigns to drive massive performance gains, rather than waiting for weeks or months to see returns.

However while these attribution models have evolved a long way in recent years, there is one challenge that all must tackle: the need for reliable, consistent and valid data. Even the most advanced and powerful of these systems are dependent on the quality of the information they ingest. Incorrect or sub-par input will always produce the wrong outputs. Data quality and reliability have become a primary focus of marketing teams and the forward-thinking CMOs who lead them.

If the data are not accurate, it doesn’t matter what statistical methods or algorithms we apply, nor how much experience we have in interpreting data. If we start with imperfect data, we’ll end up with erroneous results. Basing decisions on a conclusion derived from flawed data can have costly consequences for marketers and their companies. Inaccurate data may inflate or give undue credit to a specific tactic. For example, a model may indicate that based on a media buy a television advertisement –usually one of the most expensive of our marketing efforts – was responsible for driving an increase in visitors to our website. But, if this ad failed to air, and there is inaccurate data in a media log, the team may wrongly reallocate budget to their television buy. This would be a costly mistake.

In fact, inaccurate data may be one of the leading causes of waste in advertising. These inaccuracies have become an epidemic that negatively impacts both advertisers and the consumers they are trying to reach. Google recently found that, due in large part to bad data, more than 56 percent of ad impressions never actually reach consumers, and Proxima estimates $37 billion of worldwide marketing budgets go to waste on poor digital performance. And that’s just digital. The loss for major players who market online and offline can be extensive, and it’s calling for a revolutionary new approach to data quality and reliability.

So, how accurate is your data? Do you know if there are gaps? Are there inconsistencies that may queer your results? Many of us put a great deal of trust in our data systems leaving us forgetting to ask these critical questions. You can’t just assume you have accurate data – now more than ever you must know you do. That may require some work up front, but the time you invest in ensuring accurate data will pay off in better decisions and other significant improvements. Putting in place, from the start and early in the process, steps and checks to ensure the timely and accurate reporting of data is key to avoiding costly mistakes down the road. Solving these problems early in your attribution efforts helps build confidence in the optimization decisions you’re making to drive higher return on investment and, perhaps more importantly, will help teams avoid taking costly missteps.

When it comes to attribution, it is especially critical to make sure the system you are relying on has a process for analyzing and ensuring that the data coming in is accurate.

Below are four key considerations, when working with your internal analytics staff, agencies, marketing team and attribution vendor, you can use to unlock more positive data input and validation to ensure accurate conclusions.

1. Develop a data delivery timetable

The entire team should have a clear understanding of when data will be available and, more importantly, by what date and or time every data set will arrive. Missing or unreported data may be the single most significant threat to drawing accurate conclusions. Like an assembly line, if data fails to show up on time, it will stop production for the entire factory. Fortunately, this may also be one of the easiest of the challenges to overcome. Step one is to conduct an audit of all the information you are currently using to make decisions. Map the agreed upon or expected delivery date for every source. If you receive a weekly feed of website visitors, on what day does it typically arrive? If your media agency sends a monthly reconciliation of ad spend and impressions, what is the deadline for its delivery?

Share these sources of information and the schedule of delivery with your attribution vendor. The vendor, in turn, should develop a dashboard and tiered system of response for data flow and reporting. For example, if data is flowing as expected, the dashboard may include a green light to indicate all is well. If the information is a little late, even just past the scheduled date but within a predefined window of time, the system should generate a reminder to the data provider or member of the team who is responsible for the data letting them know that there may be a problem. However, if data is still missing past a certain point, threatening the system’s ability to generate optimizations, for example, an alert should be sent to let the team know that action is needed.

2. Create standard templates for routinely reported data

You, members of your team, and your attribution partner need a clear understanding of what specific data is included in which report and in what formats. It would be a shame to go through the hard work of making sure your information is arriving on time only to find out that the data is incomplete or reported inconsistently. To use the assembly line analogy again, what good is it to make sure a part arrives on time if it’s the wrong part that’s delivered?

Like quality control or a modern-day retinal scan, the system should check to see if the report matches expected parameters. Do the record counts match the number of records you expected to receive? If data from May was expected, do the dates make sense? And, is all the information that should be in the report included? Are there missing data?

With this system in place, a well-configured attribution solution or analytics tool should be able to test incoming data for both its completeness and compliance with expected norms. If there are significant gaps in the data or if data deviates overmuch from an acceptable standard, the system can again automatically alert the team that there may be a problem.

3. Use previous data from the source to confirm new data

Your attribution provider should be able to use data previously reported from a source to help identify any errors or gaps in the system. For example, you can include in your data feed multiple weeks or months of previously reported data. This feed will produce one new set of data and three previous sets of overlapping data. If overlapping data does not match that will trigger an alert.

Now you’ll want to determine if the data makes sense. You want to see if new data is rational and consistent with that which was previously reported. This check is a crucial step in using previously published data to confirm the logic of more recent data reported.

Here, too, you can check for trends over time to see if data is consistent or if there are outliers. Depending on the specific types of media or performance being measured a set of particular logic tests should be developed. For example, is the price of media purchased within the range of what is typically paid? Is the reach and frequency per dollar of the media what was expected?

Leading providers of marketing attribution solutions are continually performing these checks to ensure data accuracy and consistent decision making. With these checks in place, the marketing attribution partner can diagnose any problems, and the team can act together to fix it. This technique has the added benefit of continuously updating information to make sure errors, or suspicious data, don’t linger to confound ultimate conclusions.

One note here that should be taken into account: outliers are not necessarily pieces of bad data. Consider outliers as pieces of information that have not yet been confirmed or refuted. It is a best practice to investigate outliers to understand their source, or hold them in your system to see if they’re not the beginnings of a new trend.

4. The benefit of getting information from multiple sources

Finally, there are tangible benefits to confirming data from multiple data sets. For example, does the information about a customer contained in your CRM conform with the information you may be getting from a source like Experian? Does data you’re receiving about media buys and air dates match the information you may be receiving from Sigma encoded monitoring?

Even companies that are analytics early adopters find themselves challenged to ensure the data upon which they rely is consistent, reliable and accurate. Marketers understand that they have to be gurus of data-driven decision making, but they can’t just blindly accept the data they are given.

Remember, as we have mentioned, despite the potential benefits of a modern attribution solution, erroneous data ensures their undoing. To be certain your process is working precisely, create a clear understanding of the data and work with a partner who can build an early warning system for any issues that arise. Ultimately, this upfront work ensures more accurate analysis and will help achieve the goal of improving your company’s marketing ROI.

As a very first step, since data may come from multiple departments inside the company and various agencies that support the team, develop a cross-functional steering committee consisting of representatives from analytics, marketing, finance, as well as digital and traditional media agencies; the steering committee should have a member of the team responsible for overall quality and flow. As a team, work together to set benchmarks for quality and meet regularly to discuss areas for improvement.

In this atmosphere of fragmented media and consumer (in)attentiveness, those who rely on data-driven decision-making will gain a real competitive advantage in the marketplace. Capacities of today’s solutions produce insights in such a timely fashion that the nimblest marketers can incorporate those insights into active campaigns to drive massive performance improvements, rather than waiting for weeks or months to see results. But the Achilles heel of any measurement system is the data upon which it relies on generating insight. All other things being equal, the better the data going in, the better the optimization recommendations coming out.

The post Confirm the integrity of your data appeared first on Marketing Land.

Continue Reading Confirm the integrity of your data

4 Easy Ways Podcasters Can Use Email to Grow Their Audiences

As technology continues to improve, it’s never been easier to start a podcast. But it's also never been harder to build an audience. Bringing in new listeners is no longer just about producing remarkable audio content. We have to find new ways to reach and engage listeners in an increasingly saturated industry. That's why Hack the Entrepreneur has put a consistent emphasis on using email as an audience-building tool for the past four years. We use email automation to promote our new episodes, and we use our weekly newsletter to provide additional value to our listeners. Email has helped us garner 5,000,000+ podcast episode downloads, grow our listener base, build deeper connections with our audience, and get closer to our goal of helping 10,000 people start side hustles and live a lifestyle of their own design.But we're just one podcast in one market. Let’s take a look into how other podcasters are using email to grow their audiences.Related: The 30 Tips You Need to Know to Succeed with Email

Create conversations

Alistair Clay, of Famous Business, has a great technique that you can implement immediately: Replace your stagnant  stagnant “subscribe to my show on Apple Podcasts” call-to-action with a supercharged CTA that triggers action. Here's exactly how Clay does it:“My audience is made up of small business owners looking to get media attention. This is an urgent problem that they need solved fast. To help them, I offer to answer their burning questions immediately," explains Clay. "The only catch is they need to sign up to my email list and then hit reply! I call this a win/win/win situation. It gets them an answer fast, gets me a subscriber, and it also gives us a chance to make a deeper connection."Through email, Clay is offering quick, personalized advice — something that most other podcasters do not offer. His listeners get individual attention, which automatically inspires loyalty. They'll keep coming back to Clay, again and again. Then, Clay can continue to communicate with his listeners through email. Their interactions don't just end with a podcast episode.Related: How to Get Your First 50 Email Subscribers in 30 DaysClay also gains important insight from these Q&As. Their questions may help him come up with his next podcast episode or next product idea."This one technique has been an essential element to the growth of my podcast," Clay says.

Do the extra legwork

In order to grow your audience from scratch, you need to put in the extra legwork in the beginning, according to Jane Ellen, of Glistening Particles. That's why Ellen solicits feedback via email as much as possible.“I’m Googling the heck out of the topic of each episode and sending direct emails to people who might be interested in the episode," explains Ellen. "My goal is to send 50 per episode. I have had people reply back – even one to be a guest!"It's not a long-term, scalable solution, but it's crucial to the initial growth of your audience, explains Ellen. That's because feedback is fuel. "I’m of the belief right now that ANY engagement is good. I’m even open to hear my show stinks or my interview style is annoying or whatever — it means someone’s listening.”Using this intel, Ellen can react and iterate, too. As she implements positive changes to her show based on this feedback, she'll be able to bring in more listeners and more guests down the road.

Follow up with past guests

One of the unspoken powers of hosting an interview podcast is the potential connections you can make with your guests, and, by extension, their audience. By staying in touch with past guests, you stay top of mind and increase the chance of introductions to their network, who may also be great guests for your show. Unfortunately, many podcasters fail to follow up and stay in touch with their guests to nourish and grow these relationships.  Related: How Do I Avoid the Spam Filter?Andy Wang, of Inspired Money, builds an email list of past guests he’s had on the show and keeps in touch with these guests. “I periodically send an email to past guests letting them know what's new with my podcast and highlighting recent higher-profile guests," says Wang. "A little PR never hurts, especially to past guests who are the real stars of my show. This is a way to express gratitude and keep my show in their minds. This can also lead to an introduction to another guest.”  

Syndicate your podcast

When you format your podcasts for radio, you can unleash the powers of syndication for yourself.Jerod Morris and the team at The Assembly Call have managed to not only syndicate their podcast on local radio, but also leveraged it to significantly to build their email list. Radio syndication is not feasible for all podcasts, but if your show is focused on a specific niche (like a sports team), location (a city or neighborhood within a city), or demographic, then this is a possibility. To get started, you can reach out directly to your local talk radio or sports stations and ask them about syndication.“On The Assembly Call, we have mostly used our podcast to grow our email list, but that changed last year," explains Morris. "We started syndicating our weekly news roundup on one of the biggest Indiana University sites. In exchange for the ability to post our content on their site, the site owner included an email form for visitors and readers to sign up for our email list so they could get the roundup via email. We've gotten 1,000+ subscribers since this began.”Related: Your Start-to-Finish Plan to Get 1,000 Email Subscribers

Use email to turn listeners into fans

As an on-demand medium, podcasts have the potential to connect with new people when and where they want. But connecting with them via email is how you deepen the relationship from a passive listener to a loyal fan. Want to get started building your podcast audience via email today? Create a free account with AWeber. You can try the award-winning email marketing platform for free for 30 days.

The post 4 Easy Ways Podcasters Can Use Email to Grow Their Audiences appeared first on Email Marketing Tips.

Continue Reading 4 Easy Ways Podcasters Can Use Email to Grow Their Audiences

The 6-Step Plan to Escape the Spam Folder

You're not a spammer — but your emails can still land in the spam folder.And once they’re stuck there, it’s difficult to reach the inbox again.That’s why we asked AWeber’s Director of Deliverability Karen Balle to explain how you can escape the spam folder.Multi-million dollar companies seek Balle’s advice on reaching the inbox. This is the same 6-step plan she lays out for them. And now, you can use it too.

Step 1: Make sure you have permission.

It’s illegal to send emails to people who haven’t subscribed to your list. It’s also a great way to go to the spam folder.So, if your emails are going to spam, review your email lists to make sure all of your subscribers opted in to receive content from you.If you purchased one of your lists or all of your lists, delete those subscribers from your email marketing platform. They’re just hurting you. Plus, they didn’t give you permission to send them emails anyway, so they are much more likely to mark your emails as spam or not open them at all.If you’re not sure whether your lists are purchased, review subscribers to see how they joined. (You can see these details under Subscriber Management in AWeber.) Look for large lists of imported subscribers. Make sure you have a record of how you acquired these subscribers.Related: The Ugly Truth about Buying Email ListsBalle also recommends using confirmed opt-in (COI) emails for every new subscriber. A confirmed opt-in email is a message that’s automatically sent to people who fill out your sign up form. It asks them to confirm they want to join your list by clicking a link or button in the message.Internet service providers, like Gmail and Yahoo!, are more likely to deliver your emails to the inbox when you use COI emails. And on top of that, COI messages keep spam robots off your email list. Spam robots are automated computer programs designed to find sign up form code on your website and submit fake information to join your list.  (Nobody wants a robot on their list. It’s difficult to tell them apart from real subscribers. And they decrease your open and click-through rates.)Related: Writing Confirmation and Welcome Emails People Love

Step 2: Find the type of content your audience loves.

Often, your email reputation is damaged because your subscribers aren’t engaging with your emails. If your open rates are below 15% and your click-through rates are below 5%, you’re in the danger zone, says Balle.To rebuild your email reputation, you need to boost your open and click-through rates. There’s a simple way to accomplish this: Send content your audience can’t wait to open and read.Take a look at the emails you’ve sent in the past, says Balle. Are there certain messages that earned more opens and clicks? If so, you should send more content like this! Jot down a list of related (but new) content ideas for future emails.Related: 8 Top Brainstorming Techniques to Help You Write Killer EmailsYou can also ask your subscribers what kind of content they’d like to get from you. Simply send them a brief email asking what questions they have.Once you know what kind of content interests your audience, draft a few emails around those topics. We’ll use these messages in step 4!Related: 18 Tried-And-True Ways to Improve Your Email Content

Step 3: Build a segment of your most-engaged subscribers.

Using your email marketing platform, build a segment of subscribers who have clicked a link in one of your emails in the last 3 months.This is your most engaged group of subscribers. They are more likely to open and click future emails.You’ll use this segment of people to begin rebuilding your email reputation with internet service providers. With a good email reputation, more of your emails will reach the inbox!Related: How to Create a Segment in AWeber

Step 4: Send value-packed emails to your segmented audience.

For the next 2 weeks, focus on sending high-value emails to the audience you identified in step 3. Aim to send 1 to 2 emails each week. Use the messages you drafted in step 2!Make sure that your audience likes the content you’re  sending. High open and click-through rates and low spam complaints are a good indicator that they do.But fair warning: You won’t see high rates right away.When recovering from spam folder placement, your open and click-through rates will start low, according to Balle.“You want to make sure that those metrics are increasing. Many companies give up too early during this step. It will be around two weeks when you really start to see a difference,” she says.Once your open rates are above 15% and your click-through rates are above 5% with your engaged segment, start gradually increasing your segment size. Add people to your segment who clicked an email in the last 4 months.As you send emails to this larger segment, watch your open rates and your click-through rates for about a week. If they hold steady, then add people who clicked an email in the last 5 months. Watch your open rates and click-through rates again. Keep going until you’re sending to people who clicked your emails in the last 12 months.One of the biggest mistakes Balle sees is adding people to your segment too quickly. Each time you add more people to your segment, make sure you don’t increase your segment by more than 50%. For example, let's say you have a list of 10,000 engaged subscribers. When you increase your segment size, add 5,000 subscribers or less. Send for about a week. Then, add the next segment.And if you add a new segment and you can’t increase your open and click-through rates, stop adding new segments. Move on to step 5.Related: The 7 Questions Everyone Has about Email List Segmentation

Step 5: Create a re-engagement campaign for unengaged subscribers.

Now, it’s time to try to re-engage subscribers who aren’t opening and clicking your emails with a re-engagement campaign. A re-engagement campaign is a group of emails that asks people to confirm they actually want to be on your email list.For your re-engagement campaign, build a segment of people who haven’t clicked on a link in your email for the last 12 months or at the point where you could no longer increase your opens and clicks.The segment size for this re-engagement campaign should be no more than 10% the size of your newly engaged list. If it’s larger, it could sabotage the work you’ve done so far with your engaged segment. So if you have a list of 10,000 subscribers who have recently clicked a link in one of your emails, your engagement campaign should only include 1,000 people.  You may need to send multiple engagement campaigns to cover all of your less-engaged customers.Once you build your segment, send a re-engagement campaign to them. Send one email. Wait 7 days. Then, send one more. Don’t send a third. According to Balle, a third re-engagement email often ends up in the spam folder.Related: How to Win Back Subscribers with a Re-Engagement CampaignIf you have subscribers who haven’t opened or clicked an email in more than a year, you might want to consider excluding them from your re-engagement campaign. They are less likely to re-engage, and they may sabotage your re-engagement campaign by decreasing subscriber engagement.

Step 6: Delete subscribers who don’t re-engage.

If a subscriber doesn’t re-engage or hasn’t opened an email in years, it’s time to delete them. They’re just hurting your email deliverability and your bottom line.Related: How to Delete Unengaged Subscribers

Stick to the plan. Reach the inbox.

Improving your email reputation takes time and patience. But by following this plan, you can increase your chances of reaching the inbox and build a healthy email list of people who want your emails!Want to use an email marketing platform that helps more people reach the inbox? Create a free account with AWeber.

The post The 6-Step Plan to Escape the Spam Folder appeared first on Email Marketing Tips.

Continue Reading The 6-Step Plan to Escape the Spam Folder

Target Analysis & Customer Demographics Marketing

The post Target Analysis & Customer Demographics Marketing appeared first on ClickFunnels.

No matter how different businesses are, they all have one thing in common: they all rely on their customers.

You might just be starting out, or you could be fully established and working for many years now.

You might run your own company by yourself, or you may work with a bunch of people.

Your business might be small, or it could be a worldwide recognized brand.

No matter what type of company you have, your customers will ultimately determine your success.

With that said, here’s an important question for you. How well do you know your customers?

That might seem like a simple question, but for a surprising number of people, the answer might fall short of where they need to be.

Knowing your customers means knowing who is buying your product. It means knowing what to say to get them to pay attention to what you sell. It means knowing where your sales are coming from.

Without a thorough knowledge of your customers, your business might as well be operating blind.

If you looked at that question and answered, “Not very well,” then you don’t need to panic. You simply know where you need to improve.

After all, that’s why you’re here, right?

So it’s time to think about the best way to get to know your customers. You’ll be able to do that through target market analysis and customer demographics. Hopefully, we’ll be able to answer a few more questions you might have.

So what is a target market?

Put simply, your target market is the customers you’re trying to sell your products to. As part of your marketing strategy, it represents your audience.

You know how television shows and movies often have a target audience? An audience that is most likely to respond favorably to what is presented to them? It’s sort of like that.

Why do you need to know your target market?

You have a great product that you think can change people’s lives. So why not just try to sell that product to as many people as possible?

While that may sound wonderful and seems like a great way to earn more money, having such a broad approach could stretch your resources too thin. And if you have limited time and money to begin with, the effectiveness tends to take a nosedive.

Let’s look at this with a fishing analogy. A fisherman wants to catch fish, so he goes out to the ocean to do so. He doesn’t care what type of fish, he just wants to catch as many as possible. So he casts his hook out and waits. What do you think he will catch? How much of what he does catch will be useful?

Having no idea what he wants to catch is a recipe for disaster. It gives him no way to plan for what equipment to bring, what bait to use, where to go, etc. He goes out to fish with a hope, a prayer, and little else.

Do you see why knowing your target market can be so helpful? Yes, your product is amazing, but it’s probably not for everyone. Only a specific audience will respond to it.

That’s why you need to identify your target market.

How do you identify a target market?

You can identify your target market through what is called a target market analysis. Sometimes it’s referred to as a target audience analysis.

This type of analysis is essentially a study where you figure out the details of your potential target customers.

A target market analysis looks at several areas which can be broken down into 5 W’s and H. Let’s take a brief look at them now.

Who

Figuring out the who of your target audience involves finding out demographic information about them. That can include statistics like age, race, gender, occupation, and more.

Where

This category tells you where your customers live and work. It can include detailed information beyond their address, like the surrounding population size and the climate of the area.

When

Based off of your analysis, you should be able to tell when people are buying products from you. Do you have a peak selling season? When are the usual lulls? How often do repeat customers come back?

A target market analysis also includes discovering when customers see one of your ads or engage with you on social media. It can be broken down by month, day, hour, or even minute. The amount of detail is really up to you.

What

This involves identifying other aspects of a customer’s personality, such as their interests. Do they have hobbies that inspire them? What do they need in their lives right now?

Why

Equally important is determining why they want to buy your product in the first place. What drives them to make that decision? Why do they want to buy from you and not somebody else?

How

Lastly, you need to look into customer behavior. In other words, it’s how they act. Do they have certain lifestyle habits that you should know about? What about their purchasing trends?

A target market analysis should answer these questions. With that information in hand, you’ll be able to perform more effective customer demographic marketing.

How do you perform a target market analysis?

Okay, so you agree that figuring out your target market is an important step toward your success. That much is clear.

Now how do you do it?

You won’t always find a clear step-by-step formula to follow for how to do a market analysis, which can make it a challenge. But we can provide some tips for you to consider that should put you on the right track.

Study your current customers

Unless you’re only just starting out, you should already have some customers that are purchasing from you.

They’re a great place to start.

Reach out to them. Find out more about them.

How you go about doing this is really up to you. You might try to interview them personally, though this can take up a lot of time.

An easier path is to send them survey opportunities after they’ve bought a product from you. From there, you can get information to fill out your consumer demographics along with other valuable details that will inform your marketing going forward.

Look at what you’re selling

While you’re busy studying your customers, don’t forget to take a closer look at your own product. What does your product offer that benefits a customer? Don’t just think about it; write down your product’s features.

If you have a book you want to promote about developing a healthy lifestyle, list the benefits people can get from reading it. Once you have identified what those are, then write down the type of people who would benefit the most from your material.

If you sell more than one product, you’ll want to do this with each one. You might have different audiences in mind depending on the item.

While this may all seem basic, you’d be surprised at the sudden thoughts and ideas you can get from this process. It’s like the lightbulb moment in cartoons. Suddenly, you have a better idea for who you can sell your product to.

Collect demographic data

This is where you gather data about your potential customer demographics. Now it might sound similar to the part of studying your current customers, but this deals with future buyers. Your current customers can inform your efforts, though.

For example, let’s say you notice that a significant portion of your current customers seem to come from the San Francisco bay area. You’re not sure why exactly, but the data shows that to be the case. Here’s where you can collect demographic information from that area to get a better view of the type of people who want your product.

This goes for any number of demographic areas. Do you have a lot of customers who happen to be moms in their early 30’s? Search out more information about that particular demographic.

That may seem like a tall task, but you have a number of helpful tools and resources that you can use.

The U.S. Census Bureau has all sorts of information about the population of the United States. Just take a look at this fact page and see how much data it provides. Now think about how you can use it to pinpoint your target audience.

Other tools include commerce websites at your state or local level. Trade journals can also provide useful info, such as emerging consumer trends.

Consider all sorts of demographic factors that go into your marketing. We’re talking about age, occupation, education level, ethnicity, income level, family status, and so much more.

Research your competitors

You shouldn’t limit your focus to yourself. Take some time to look at what your competitors are doing.

Who do your competitors seem to be targeting? If it seems strange, there might be a very good reason for it — a reason that you haven’t considered yet.

Or it might indicate customers you should avoid. After all, if the market is saturated, you want to find potential customers that are overlooked. If you have competitors that are ignoring a demographic segment, that just means you can carve out your own lucrative niche.

Explore psychographics

Similar to demographics, psychographics give you even more details about customers. This is information that’s harder to quantify, such as lifestyles, values, personality types, and more.

Does your product benefit people with a certain type of lifestyle more? You’ll want to start focusing on people like that.

Psychographics can cover a lot of ground. They can segment people based off of the media they consume, their hobbies, or even the food they eat.

Gathering this information requires customers to be open and honest with you. It’s usually done through surveys, questionnaires, and focus groups.

Review your analysis

Once you’ve completed your target market analysis, you should definitely review it. Remember, this is what you’ll be basing your future marketing strategies on, so getting this right is crucial.

Based off of your analysis, determine if your target market is the right size. If it’s too narrow, you may need to widen your scope a bit.

Make sure the people in your target audience can actually afford your product. If it’s outside their price range, you’re not going to see too many sales.

From there, you can start crafting the right message that will resonate with them.

Knowing who your target market is can really help you create a pitch that sees results.

What are some target market examples?

Target markets can be as specific or as broad as you want. Generally speaking, the more detailed and specific, the more effective your message will be.

Once you’ve completed your target market analysis, examples will be easy to come by.

For instance, if you’re selling a nutritional supplement, you can describe your target market broadly, such as men in their 30’s and 40’s.

Or you can be more detailed with the description, like married men in their 30’s and 40’s who exercise at least twice a week, love the outdoors, live on the east coast, want to feel healthier, and earn a salary of at least $50,000 a year.

Do you see how your message can change depending on how specific your target market is?

Knowing your customers means knowing success

If you’ve ever interacted with a business that didn’t understand you, then you know how frustrating it can be.

Get to know your customers. Put in the work to understand them. Figure out what makes them tick.

It’s one of the best ways to develop an effective marketing strategy that will speak to them. You’ll have the right bait for reeling them in. And when you do that, success is just around the corner.

Thanks for reading Target Analysis & Customer Demographics Marketing which appeared first on ClickFunnels.

Continue Reading Target Analysis & Customer Demographics Marketing