The foundation of any effective marketing or advertising campaign is knowing your ideal target customer also known as a niche. Many entrepreneurs make the mistake of targeting a large audience (shotgun approach) and then find themselves disappointed with the results or cursing the advertising platform.Well guess what? It is not Facebook's fault if your Ads are too broad, generic, or are not speaking to your niche customer.
So what is a Niche A niche is a targeted portion of an overall potential audience for a product or service offering. A great example of a Niche: Betty Crocker In 1930 Betty Crocker had the difficult challenge of differnetiating her flour in the market. Being a baker she decided that creating a flour for bakers was her best plan of attack. After identifying this niche she was able to in those days scratch together the huge money it took to get her own radio cooking show nowadays you can setup for less than $20. While her popularity grew she took a simple idea of who to sell flour to a completely new level, when she created the very first cook book. If your a Roseville plumber for instance and create an ad "Afforadable Plumbing Service - emergency service - call for a quote" on Google, or Facebook and it performs poorly it's not their fault it's yours or your marketers. I'm a world filled with endless ads in or faces "ad blindness" is becoming more and more common everyday. This is why it is important to get as specific as you possibly can. For instance it would be better for the Roseville Plumbers ad to say "West Roseville Water Heater Repair - 1hr response - Free Second Opinion " or "Leaking Water Heater Repair - 1 hr response - Free Diagnosis" Another example for a financial advisor Is your ideal client 35 or 65? Single or Married/widowed? Amount of assets? Type of investments? Aggressive vs Conservative? Real estate or stock? Income from dividends or high gross stocks like?technology or pharmacuitcal? It's very specific details she as these that will narrow your audience and your lower overall advertising costs. The more relevant the ad is to your targeted customer the more cost effective your campaign will be overall. Lowering the customer acquisition cost (CAC) and increasing your lifetime customer value (LTV) So what are these 5 Spokes....
So what spoke is the most important? Is your business online, retail, or freelance these factors make a big difference in your online marketing approach. Wether you use 1 of the spokes or all of them your key to success is knowing who to craft your message too. To persuade someone in using your services you must first appeal to their logic, emotions, and their ethics. Practice these and you will see a huge improvement in gaining new clients for less money. We help businesses owners everyday create a pinpoint marketing plan that uses all of these spokes, which can then be automated through the best technology on the market.
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