How to Expand Your Target Market and Lift the Business with Dashing Growth
Your business might have a loyal customer base, however, it is always a good idea to look for ways to attract new clients. One of the solutions to tackle that is to extend your target market. How? Let’s dig deeper.
The tactic is to understand motivations and triggers that can work for different buyers’ segments and use them for developing persuasive creatives when placing the ads. According to Facebook, this approach proved really effective: in 27 pilot cases (from 27 Facebook Ads Manager global split testing studies) 89% of all ads have converted different types of audiences allowing brands to expand their existing target market.
We’ve prepared a detailed guide that explains each step in this approach and helps to gain new buyers.
Step 1. Disclose the motivation of the desired target
All of us have our own reasons to purchase a certain good. The relevance here is the key to success. According to the consumers’ study conducted back in 2014, 71% of people answered that they prefer ads targeted to their interests and shopping habits. So the goal is to determine what inspires and triggers people within your target market to make a purchase.
· Identify and list the motivators and barriers for each of your target audiences. In other words, define the reasons that can encourage or discourage prospective customers from buying your product or service.
· Now choose the biggest 3 motivators and barriers that you think may pay off and trigger the person to buy.
· The easiest way to perform this is to draw a table listing the motivators on the left side and barriers on the right.
Step 2. Decide on your message
The next step is to map the message by connecting these two tables (motivator/barrier) and create an effective Call to Action. Being aware of your target’s main triggers helps you define the right perspective you need to represent your product or service benefit from. There are several types of perspectives:
◆ Rational perspective – appealing to the rational. Why does the customer need the product?
◆ Emotional perspective – appealing to the emotional. How does the product make your customer feel after the purchase?
◆ Product feature perspective – appealing to the product applicability. What functions can it fulfill and how can it help the customers solve any of their problems?
When you are ready with the right message it’s time to determine visuals for different motivations that reflect each of your target audience, which you’ve determined in Step 1. That’s crucial to differentiate every audience and develop creatives that don’t overlap with each other.
Step 3. Make the creatives that engage your audience
The more relevant and engaging your visuals are the higher conversion rates they usually show.
While working on creatives it’s crucial to:
· Make every creative related to a specific motivator by using as many elements (visual + text) as possible. This way, you will maximize the chances of attracting diverse audiences.
· Pick the right format for the visuals – video, lightweight animation, or static creative associated with your key barriers & motivations. All the formats are working, yet it’s no secret that in 2021 video ads are preferable – they are likely to have twice the engagement than any static.
· Use consistent visual identity – font, colors, logo – that’s how all of the ads will be easily attributed to your brand.
Step 4. Optimize video content for mobile
75% of the world’s total video content is being viewed on mobile. It’s rather obvious that mobile video is one of the most significant tools at our disposal. The main rules for creating engaging video content are:
– The video should be short – less than 15 seconds with the main message highlighted within the first 3-5 seconds.
– It is necessary to start the clip with the most captivating elements it contains.
– Brand identity is to be incorporated in the very beginning to hook people right away.
– Visual storytelling and text on-screen: the video storyline should be easy to follow even in a mute model.
We have covered more hints on mobile ad content creation in the Mobile Optimized Ads Guide.
If it feels like you need to work out a detailed strategy feel free to contact us.
• ‘Average US Time Spent with Mobile in 2019 Has Increased‘, eMarketer, 2019
• eMarketer, ‘More than 75% of Worldwide Video Viewing is Mobile‘, Feb 2018
• 2014 The Value of Targeted Advertising to Consumers, IAB
• Analysis from 27 Facebook Ads Manager global split testing studies (Oct 2018-Nov 2019)
• Creative Presentation by Facebook, 2020
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