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This month, I’m making the transition to focus full-time on Magnifyre, a boutique digital agency I started a year ago with my well-traveled and incredibly talented business partner. As the idea of a consistent paycheck is quickly fleeting, finding new customers who need digital marketing help quickly takes up real estate in the forefront of my mind.
You are reading a blog on Facebook advertising, so it’s probably safe to assume that you are also trying to reach your customers online. Hopefully you will be able to draw parallels from this approach to reaching the right prospects, and implement them into your own Facebook advertising strategy.
There are plenty of businesses that have to work within strict advertising budgets, and I’m sure there’s an even larger group of businesses that are always looking for more efficient ways to spend their hard-earned ad dollars. The strategy outlined in this post references how small budget advertisers can make a large impact with their campaigns.
Tim Ferris, the author of “The Four Hour Work Week,” recently said something on one of his podcasts that resonated very clearly for me. He said, if you’re not the number one business in your niche, you need to refine your offering and focus until you can be number one, and grow from there. Not only is this sound advice from the perspective of building a business, I think it has valid application in the way we are creating and executing our ad campaigns.
Many of us prefer to cast a wide net whenever we start a new campaign and optimize them once we’ve collected enough data, but for this method I suggest the alternative. Instead of casting a wide net, focus on a particular area or a specific small targeting group so your message can resonate more aggressively among that audience.
For instance, most of our existing customers are located in central Missouri; so initially, this is where we would want to advertise aggressively. Not only will our existing customers see our ads (which can help reaffirm their decision to work with us), prospects who may have already heard of our business through word of mouth or other marketing efforts have another touch point with our brand.
Another point to keep in mind, even if you do make sales on a national level, is the effectiveness of meeting with prospects face-to-face. If you are aggressively targeting geographic regions you can travel to easier, you are effectively making the sales process much easier on yourself by focusing on a smaller number of predetermined areas.
A large focus for advertisers with a smaller budget should be to appear “everywhere” to a small group of people, without spending the resources to actually be everywhere.
The method mentioned above pertains to geographical targeting, but that is just one of many suggestions. Another option I would highly recommend exploring is retargeting, since these users have already displayed some interest in your brand by visiting your page. It takes a number of touch points to make a sale, so why not automate a few?
One big thing to be aware of when setting up your retargeting campaigns is how your new offer will be different, and hopefully more compelling, than the first. If the offer in your original campaign is trying to aggressively sell your product or service, you may want to consider offering an info guide or whitepaper related to your product or service in your retargeting campaign. It’s hard to predict where each visitor to your website will be in their buying cycle; being accommodating to these various stages will help you retain and nurture prospective business much more successfully.
When everything is said and done, it all comes down to reach and frequency. If you keep your online reach focused on a smaller group of users, your frequency will give you a big spender impact, for a fraction of the cost.