Episode 3: Narrow Down Your Target Audience
November 29th, 2020 | Podcast Episode
In today’s episode we show you how to narrow down your target audience and show you how to build a customer avatar. Instead of walking you through the steps, we will be using a real world example to show you the process.
This approach is currently being used in real online marketing campaigns that are rendering results! You’ll get to see how selective and specific you want to be when marketing online. The things you will learn in this episode will dramatically increase your chances of success. Tune in!
Our goal with today’s episode is to help you narrow down your target audience and show you how to build a customer avatar. Instead of walking you through the steps, we will be using a real world example to show you the process. This approach is currently being used in real online marketing campaigns that are rendering results! You’ll get to see how selective and specific you want to be when marketing online. The things you will learn in this episode will dramatically increase your chances of success. In our previous episode we covered six reasons why digital marketing campaigns can fail. We promised you, our audience, that we would give solutions on how to solve these problems. We want to give everyone the option to listen to what is relevant to them. Instead of putting all of the solutions into one episode and having to scan through what is important to you; we will be breaking them down into topics over several episodes, allowing you to select which ones you want to hear. If you are a first time listener, we will get you caught up. If you have listened to us before, this will just be a refresher!
In episode one, we discussed the importance of being specific when marketing online. It’s not for the reasons you would think. Here is a snippet from the previous episode.
The large tech giants like Facebook, Google, and Twitter are monsters with HUGE revenue appetites. These companies need to bring in a lot of revenue to not only maintain but grow their stock prices. The way these giants do this is by acquiring smaller companies that have lots of users, example Facebook bought Instagram, Google bought YouTube.
They buy these properties to monetize them. How do they monetize? With Ad Revenue. Companies are chomping at the bit and rushing to advertise, the result is available ad inventory is starting to run out and is causing inflation, upping the price of what it costs to market to people on social media. Meaning if it’s progressively getting more expensive to show ads to users, our same marketing dollars reaches less people. If we are reaching less users, the amount of users we convert into buyers is less, which is increasing our cost to acquire a customer. With our cost to acquire customers going up, our profit margins decrease. The way we can counter and maintain profit margins is by marketing specifically to the consumer who is most likely to buy. The way we do that is by narrowing down our target audience and marketing to them specifically.
To ensure that you have a target audience that is specific enough for digital marketing, let’s begin by building a customer avatar. For those of you who don’t know what a customer avatar is: A customer avatar is a detailed profile of your ideal customer. It doesn't make assumptions or categorise people into groups. The avatar focuses on one person and outlines everything about them. It goes into much greater depth than a regular marketing persona, providing marketers with many more targeting tools.
When you start building your Customer Avatar, start thinking down these lines how old are they? What is their gender? What is their marital status? What are their likes and interests? Do they have children? What is their profession? If you do this, it begins to paint a picture of who your audience is. At Papi Digital we like to have a rendering of what that person would look like in cartoon form and next to it we put all the demographic data. Knowing them well is crucial for this process; for it allows you to understand what they care about and what they are interested in.
Next let’s run through an example of a customer we did this for. We work with a business that targets parents who have children under the age of 10. That’s a start but it is not even close to being specific enough. Let me provide some context and we then can dive deeper into how we built a customer avatar.
Our customer has a product that redefines a child’s experience of a common tradition. If you are thinking Santa Claus, you are along the right lines. The goal of the product is to create fun memories that stimulate children's imaginations, creating a bonding experience between the parent and child.Through market testing, our client shared that mothers of young children were most likely to buy this product.
This is the start that we need, to begin the process of narrowing down the target audience.The next question we are going to ask, is she a stay at home mother or does she work? Which mother has more time to create bonding experiences with their child? The stay at home mother or the working mother, the obvious answer is a stay at home mother. But let’s be careful, because this is a trap. Yes, stay at home mothers have more time to spend with their kids but generally they put together their own creative projects. Whereas a full time working mother might not have the time nor the energy to organize these types of activities the way a stay at home mom can. This mother could experience Mom Guilt for not being able to do so.
Mom Guilt; is the feeling of guilt, doubt, anxiousness or uncertainty experienced by mothers when they worry that they are falling short of expectations as a mother in some way. For many mothers, particularly working or single moms it can be an intense feeling due to many contributing factors.
So now, what’s the net result. A single mother who has a child under 10 years old that works full time in a demanding career. For some of you, this may sound too narrow and for some of you, this will make sense. The reason we want to get this narrow is that it allows us to know exactly who we are speaking to when we create a campaign, that way we know where to spend our advertising dollars. I can hear it now, What about the mothers who are married? What about part-time working mothers? What about fathers? Ladies and gentlemen this is called fear of loss. This fear is very real with businesses and the top reason I see digital marketing campaigns fail.
Let me point something out. If we were going to target all parents that have children under the age of ten, how big is that audience? There are seven million parents that have children under the age of ten on Facebook. How much would it cost to market to all of them? For the sake of this podcast, I’ll spare you the details on how to calculate this but the number is three hundred and sixty-five thousand dollars. Businesses that have that type of advertising budget are few and far between. Now, when we run the numbers on a single mother who has a child under the age of ten years old, that works full time in a demanding career, we get to a reasonable advertising budget of eleven thousand dollars. This amount is more manageable for a business and will be far more effective in targeting the right audience which will help establish the customer base. Finding your distinct customer and advertising to them directly; is what is going to bring you the results that you want.
So now that you have your customer avatar completed, what do you do with this? The next step is you would start advertising to this target audience. The question then becomes what channel? The short answer is you need to find out what channel your audience spends most of their time on. The long answer is that this requires its own episode for a full explanation.
Lucky for you, the topics of our next episode are: what channels you should advertise on and what content you should use. Thank you for joining us today on our Growth Hacking podcast here at Papi Digital. Upcoming episodes will include guest speakers like Ben Amos, from Innovate Media, who will be talking about how to build the most optimal marketing funnels and Camille Smura from Mutesix will be here to discuss how to create videos that drive action.
Thank you so much!