Don’t underestimate the power of digital marketing to reach your target market.
Imagine the genie from Aladdin appeared in front of you, offering these options:
- ‘’I’ll show you your target market but won’t give you anything.”
- ‘’I’ll give you a million dollars and nothing else.”
What option would you choose?
I would choose option A, let me tell you why.
The advantage of knowing your target market
Knowing your target market with absolute certainty will allow you to have an immediate investment return for every dollar you invest in digital marketing for your business.
Knowing your target market will allow you to have an immediate ROI for every dollar you invest.
In other words, nowadays digital tools enable you to channel your efforts towards your ideal audience, once you know who they are. When you aim right, the metrics of the tools you use will allow you to measure your ROI in the blink of an eye.
Besides that, knowing your target market will help you make sure that when you do digital marketing, your product or your business is worthy and relevant for that market (whether it’s people or business)
An example of how this works in digital marketing
I’ll give you a specific example, based on our experience with one of our clients in 1Entity.
Our client offers engineering services; he understands that the acquisition cost of each new service buyer is of $200.
At 1Entity we designed a digital advertising plan using social networks to catch new consumers for our client, considering the details that we researched about its real target market.
With a $1000 advertising campaign, we were able to attract 50 prospects, from which ten turned into clients for this engineering business.
The acquisition cost for this engineering house decreased 100%. Besides, now it has $100 more to invest in attracting ten more clients. Great, right?
Of course, it’s possible to reach a certain point of saturation where this stops working (for different factors). However, our client experienced an increase of more than 50% in its sales and profit margin by making a simple adjustment: better focusing in the target market.
But there’s something you should know:
The real world doesn’t show you your target market
With this, I mean that a simple observation will hardly tell you what your target market is.
You may have some ideas about this market, but to identify it is required a professional research. (unless you want to lose your money!)
There are some basic methodologies for getting to know your target market. Mainly you’ll need a full-time team dedicated to this task.
You’ll need more than professionals to identify your target market, implementing a marketing strategy will help you reaching your goals.
For the implementation to be successful, you’ll need:
- A mercadologist.
- A graphic designer.
- A web designer.
A great team will allow you to create the right ecosystem to capture your specific target market. The digital marketing offers powerful and safe segmentation tools to optimize your ROI.
Does it sound complicated? It is. That’s why companies like 1Entity exist; they dedicate to support in the digital marketing world efficaciously.
I invite you to get to know what we do to boost companies around the world, here.