How Small Businesses Can Outsmart Bigger Competitors On A Lean Marketing Budget
How Small Businesses Can Outsmart Bigger Competitors On A Lean Marketing Budget
Written by
Liz Davinci
6 min read
6 min read
6 min read
One of the best realizations I've had is that small businesses can truly outsmart bigger ones in their marketing.
It's encouraging and exciting and you can read in this post why this is and exactly how to do it.
One of the best realizations I've had is that small businesses can truly outsmart bigger ones in their marketing.
It's encouraging and exciting and you can read in this post why this is and exactly how to do it.
One of the best realizations I've had is that small businesses can truly outsmart bigger ones in their marketing.
It's encouraging and exciting and you can read in this post why this is and exactly how to do it.
Section
If You Are...
- a small or medium-sized business with a modest marketing budget feeling hopeless about getting significant results from ads- done with running ads because you've had one too many failed ad campaigns...
this article will help you understand that running ads on a modest budget can be highly effective and profitable by using marketing strategies that measure, optimize and test.
Define And Specify
Broadcasting an ad to a large, varied audience might sound like a good idea - especially if what you're selling isn't gender or age specific.If you're selling surfboards at a shop in California, you shouldn't be advertising to elderly people in Nebraska - that's just common sense.
But you'd be surprised how many ad campaigns are run with huge, broad audiences. For surfboard sales for example, I'd only advertise to younger people because the majority of people over the age of 45 don't surf. You might think that some older person will see the ad and tell their grandchild...
NO - don't take this route of thinking.
Exceptions are out - we want to find the group of people that is definitely interested in us.
How Can I Narrow Down My Audience?
Look at any and all customer data you can get your hands on and look for patterns.
- What is the average transaction size?
- How often does the same person buy something?
- Can you see their gender, age, location or other demographic data?
- Are you a local or an online business - or both?
Most of the information available will depend on how you have collected data, how detailed it is and how long you've been in business.
My Rule Of Thumb:
ABCD = Always Be Collecting Data
Make as many observations as you can and write them all down. Inevitably you will come up with some patterns and in the worst case, if you absolutely can't, you can test different audiences during the first week or two of your advertising campaign to get the insight you need.
An optimal ad will be shown only to the people most likely to buy from you because this will get you far more results from your advertising dollar. And this is why you've got to figure out who they are if you don't already know.
Once I learned this, I could write ads personalized to this optimized audience, which led to more interest and conversion because the audience felt understood and spoken to directly...
... because they were.
This is the kind of marketing that builds trust and this aspect alone will get you much more return on your ad spend because of it.
Even if you aren't planning on running an ad campaign tomorrow, I urge you to go through any and all customer data and behavior you have and analyze it - it's always helpful to have more insight on who likes your company and products.
If you need help getting started or tips on what to look at specifically for your business, get in touch for a free analysis - no strings attached.
If You Are...
- a small or medium-sized business with a modest marketing budget feeling hopeless about getting significant results from ads- done with running ads because you've had one too many failed ad campaigns...
this article will help you understand that running ads on a modest budget can be highly effective and profitable by using marketing strategies that measure, optimize and test.
Define And Specify
Broadcasting an ad to a large, varied audience might sound like a good idea - especially if what you're selling isn't gender or age specific.If you're selling surfboards at a shop in California, you shouldn't be advertising to elderly people in Nebraska - that's just common sense.
But you'd be surprised how many ad campaigns are run with huge, broad audiences. For surfboard sales for example, I'd only advertise to younger people because the majority of people over the age of 45 don't surf. You might think that some older person will see the ad and tell their grandchild...
NO - don't take this route of thinking.
Exceptions are out - we want to find the group of people that is definitely interested in us.
How Can I Narrow Down My Audience?
Look at any and all customer data you can get your hands on and look for patterns.
- What is the average transaction size?
- How often does the same person buy something?
- Can you see their gender, age, location or other demographic data?
- Are you a local or an online business - or both?
Most of the information available will depend on how you have collected data, how detailed it is and how long you've been in business.
My Rule Of Thumb:
ABCD = Always Be Collecting Data
Make as many observations as you can and write them all down. Inevitably you will come up with some patterns and in the worst case, if you absolutely can't, you can test different audiences during the first week or two of your advertising campaign to get the insight you need.
An optimal ad will be shown only to the people most likely to buy from you because this will get you far more results from your advertising dollar. And this is why you've got to figure out who they are if you don't already know.
Once I learned this, I could write ads personalized to this optimized audience, which led to more interest and conversion because the audience felt understood and spoken to directly...
... because they were.
This is the kind of marketing that builds trust and this aspect alone will get you much more return on your ad spend because of it.
Even if you aren't planning on running an ad campaign tomorrow, I urge you to go through any and all customer data and behavior you have and analyze it - it's always helpful to have more insight on who likes your company and products.
If you need help getting started or tips on what to look at specifically for your business, get in touch for a free analysis - no strings attached.
If You Are...
- a small or medium-sized business with a modest marketing budget feeling hopeless about getting significant results from ads- done with running ads because you've had one too many failed ad campaigns...
this article will help you understand that running ads on a modest budget can be highly effective and profitable by using marketing strategies that measure, optimize and test.
Define And Specify
Broadcasting an ad to a large, varied audience might sound like a good idea - especially if what you're selling isn't gender or age specific.If you're selling surfboards at a shop in California, you shouldn't be advertising to elderly people in Nebraska - that's just common sense.
But you'd be surprised how many ad campaigns are run with huge, broad audiences. For surfboard sales for example, I'd only advertise to younger people because the majority of people over the age of 45 don't surf. You might think that some older person will see the ad and tell their grandchild...
NO - don't take this route of thinking.
Exceptions are out - we want to find the group of people that is definitely interested in us.
How Can I Narrow Down My Audience?
Look at any and all customer data you can get your hands on and look for patterns.
- What is the average transaction size?
- How often does the same person buy something?
- Can you see their gender, age, location or other demographic data?
- Are you a local or an online business - or both?
Most of the information available will depend on how you have collected data, how detailed it is and how long you've been in business.
My Rule Of Thumb:
ABCD = Always Be Collecting Data
Make as many observations as you can and write them all down. Inevitably you will come up with some patterns and in the worst case, if you absolutely can't, you can test different audiences during the first week or two of your advertising campaign to get the insight you need.
An optimal ad will be shown only to the people most likely to buy from you because this will get you far more results from your advertising dollar. And this is why you've got to figure out who they are if you don't already know.
Once I learned this, I could write ads personalized to this optimized audience, which led to more interest and conversion because the audience felt understood and spoken to directly...
... because they were.
This is the kind of marketing that builds trust and this aspect alone will get you much more return on your ad spend because of it.
Even if you aren't planning on running an ad campaign tomorrow, I urge you to go through any and all customer data and behavior you have and analyze it - it's always helpful to have more insight on who likes your company and products.
If you need help getting started or tips on what to look at specifically for your business, get in touch for a free analysis - no strings attached.
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Ready for a predictable Stream of New Clients?
Stop relying on inconsistent referrals or expensive ads. Get predictable, quality leads and only pay for appointments that actually take place.
Ready for a predictable Stream of New Clients?
Stop relying on inconsistent referrals or expensive ads. Get predictable, quality leads and only pay for appointments that actually take place.