3 Ways you can benefit from its hyper-targeting power
Have you ever wondered why social media marketing has gained so much favor with big brands? One reason is its hyper-targeting power. Social media lets you target your audience with a level of precision that’s hard to achieve with traditional marketing mediums. And this has multiple benefits when it comes to boosting sales and driving business growth.
But what does this mean to your small business? And more importantly, how could it help your business grow? Let’s take a look.
1. Spend where it really matters.
The targeting power of traditional marketing tools is often limited by broad geographical and demographical criteria like region and gender. And the result? Your ad spend is wasted on a wider audience, many of whom would never purchase your product or service.
Consider, for example, the typical newspaper ad. What percentage of the total readers would potentially purchase what you’re offering? Whether it’s 2% or 20%, what you spend to get your half-page ad printed will remain unchanged.
But with social media, you pay for a precise audience who are most likely to buy your products. This is because you get to access a micro-level precision when targeting them, in terms of not just age, gender, and geographic location, but also personal interests, values, beliefs, and product preferences, among many other criteria.
And when you narrow down your audience with incredible precision, you get to spend with precision as well. Your marketing dollars are put to good use by investing where it really matters. And this allows you to maximize the efficiency of your limited budgets.
2. Localize your marketing efforts.
Digital marketing tools, especially social media, can help you widen your reach to even target a global audience. Of course, there are many ways this can be useful for a growing business. But, if you’re, say, a local florist in a suburban town, then getting a global audience to visit your shop won’t make much sense. What you need instead is to connect with more local customers who are searching for nearby businesses in your particular niche.
Run local campaigns
Now, advertising on your local newspaper or radio station can also help you reach out to a local audience to some extent. But social media can provide far more cost-effective benefits when it comes to localizing your marketing efforts and growing your business. This is because social media platforms have access to a vast amount of in-depth user data. So, you get to select your audience with detailed precision and run highly targeted ad campaigns.
Turn up in local searches
In addition to this, they can allow you to turn up in local search results using tools like geotagging and localized hashtags. So, you get to turn up when it really matters—when someone is searching for products or services similar to yours in your local area.
Use your local expertise to engage a local audience
Social media also provides an opportunity to use your local expertise to your advantage. For example, if you’re running a garden shop, use your knowledge about the soil conditions, weather, and geography of your area to provide tips and advice about gardening to your local audience. They’re more likely to engage with and follow an expert who is local and relatable. And this will help you to develop a more relevant audience around you, build trust, and boost your brand reputation.
3. Personalize your customer engagement.
When you have more insightful and in-depth data about potential customers, you get to customize your communications and interactions with them. And this is exactly what social media marketing can provide your small business.
And this allows you to narrow down and segment potential customer groups and personalize your messaging and product advertising based on individual preferences, tastes, interests, values and lifestyle choices.
But it doesn’t stop there. You also get to use various dynamic content formats like videos, images, and GIFs. And the audience can often interact with them, for example, by sharing, liking, or posting a comment, in effect allowing you to create even more personalized engagement.
And why is all this important? Because highly focused and personalized customer engagement can increase your chances of building trust and boosting conversions. In fact, studies have found that personalization can lead 44% of customers into a repeat purchase and drive 49% into impulse buying.
The true power of social media
Contrary to popular belief, social media is not simply about the number of followers. It’s more to do with having the right kind of followers and what that means to your business. This is where hyper-targeting comes in. It can help grow your small business by boosting the efficiency of your marketing dollars, localizing your marketing efforts, and personalizing your customer interactions.
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