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Uncover Your Most Valuable Keywords with Aira’s New Keyword Opportunity Estimation Tool

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Uncover Your Most Valuable Keywords with Aira’s New Keyword Opportunity Estimation Tool

The author’s views are entirely his or her own (excluding the unlikely event of hypnosis) and may not always reflect the views of Moz.

Whether speaking to senior management or just trying to figure out what direction our SEO strategy should take next, as SEOs we often find ourselves asking the same question: “but what could I get from this?”

Particularly when we’re prioritizing work across different keywords, it can be hard to know:

  1. What rank we can expect to achieve (rather than just assuming position 1 for everything).

  2. What we could get from that ranking in terms of traffic/conversions.

  3. What that means in terms of additional traffic or revenue

It can really trip us up if any of our predictions are based on wild rankings we could never achieve, or if we accidentally include traffic we’re already getting anyway!

So, what’s the solution to solve all of that, and ensure we focus on getting the biggest bang for our buck? Introducing Aira’s Keyword Opportunity Estimation Tool.

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Get your copy of Aira’s Opportunity Sheet here.

What is Aira’s Keyword Opportunity Estimation Tool?

Built in Google Sheets, the focus of the tool is to:

  1. Identify the highest probable ranking position for different keywords.

  2. Estimate what that could achieve in terms of traffic, conversions, and revenue, etc.

  3. Highlight the best opportunities so you can prioritize your efforts. This is done by subtracting current estimated traffic, conversions, and revenue from the estimations if you were to rank in the highest possible position.

The sheet takes a top-20 report from a rank tracking tool and:

  • Allows you to enter a list of domains you determine you are unable to outrank.

  • Removes any ranking positions for domains you’ve listed as those you are unable to outrank.

  • Allows you to toggle on/off a list of commonly hard-to-beat domains so you can quickly cut down the list.

  • Removes instances where you might be trying to compete with competitors on their own branded terms.

  • Automatically picks out where you’re ranking currently to see how much more traffic/conversions you might be able to get on a given keyword.

Here’s an example output:

Let’s dive into an example

Imagine you’re doing SEO for a new flight site. Let’s call it BrainAir.

You know that you can probably rank for quite a few “flights” terms, unless there’s a comparison site like expedia.com already ranking. So, you add expedia.com as a domain to remove and now the sheet will find the best possible ranking you could get for each keyword except for positions where Expedia is already appearing.

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In the example below, skyscanner.net and expedia.co.uk are both listed as domains to remove. In this case, position 2 is the highest potential ranking position, as this sheet only removes the specific ranking positions for the domains listed. This means you can still get a better position if that is available.

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When doing keyword analysis, you may also realize there are some terms in your list like “Easyjet iceland flights”. If you don’t think you could beat Easyjet for “Easyjet iceland flights”, you can tick a box and the sheet automatically ignores any time Easyjet is ranking for a search that includes the word “Easyjet”.

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Why use this tool?

This sheet can be used to see:

  • How much more traffic you could get from an SEO project in general.

  • How much more traffic you could get from specific keywords.

  • Where you should prioritize your efforts first.

While no estimate is going to be bang on the money, many other approaches will likely wildly overestimate how much traffic you could get in total, as they usually assume a highest position of 1, which is not always attainable.

On top of that, other approaches tend to not look at current traffic estimates, so don’t factor in additional traffic, instead just focusing on total traffic. This leads to situations where you’re focusing primarily on keywords with the highest search volume, as opposed to focusing on the keywords capable of driving the highest amount of potential traffic to the site.

This can help with developing SEO strategies, such as:

  • Prioritizing new page creation/re-optimization based on potential traffic opportunity. For example, if this sheet highlights an opportunity to drive a significant level of additional traffic for specific keywords, you may decide to prioritize building out new landing pages, or re-optimizing your existing content to target those keywords more effectively.

  • Prioritizing technical fixes based on potential opportunity. For example, if a tool such as Little Warden highlights technical issues , then this sheet can help you see the highest potential rank for specific keywords, should those issues be fixed.

  • Seeing which competitors are having the biggest impact on ranking positions for specific keywords/keyword groups. For example, if you see that the same domain consistently appears as one you need to replace in the rankings, then it will be worth investing time looking at their strategies and approaches.

How to use the sheet

Click this link to get your copy of the Opportunity Sheet.

Stage 1: Copy & Paste in your top 20 report

Import your top 20 report into the tab named [Input] Top 20 Ranking Report, pasting into cell A1. You should delete/override the existing dummy data. The top 20 ranking report can come from any rank tracking tool, for example STAT, Rank Ranger, Accuranker, Data For SEO, etc.

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At this stage, the order of the columns does not matter.

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Stage 2: Selecting which columns to include

Navigate to [Input] Column Selection.

Here you need to use the dropdowns to select which columns relate to:

  • The keyword column

  • The search volume column

  • The rank column

  • The URL column

The table on the right-hand side will automatically update as these different dropdowns are updated with the first six rows.

Please check if the data aligns with the correct columns (or the rest of the outputs are going to look really odd).

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Stage 3: Defining which domains you’re unable to compete with

Navigate to [Input] Domain Selection.

The first step is to enter your domain. The example in this case is booking.com

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Next, add the domains you feel you’re unable to compete with. These can either contain the protocol or subdomain, or not.

You can find your competing domains by using a tool such as Moz’s Free Domain SEO Analysis Tool. Alternatively you can go to [Output 4] Current Traffic/ SOV Per Domain, which displays all of the domains ordered by total estimated traffic and share of voice.

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We would recommend revising this list once you have seen the results, to include any additional domains you hadn’t previously included.

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On the right side of the page, you can choose to include pre-defined domains in the list. This includes standard, hard-to-beat domains such as Google and Amazon, or social media domains such as Facebook and Twitter.

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Finally, you can decide whether you want to exclude domains that contain target keywords in the domain name. For example, if you don’t think you could beat Easyjet for “Easyjet flights”, tick this box and the sheet automatically ignores any time Easyjet is ranking for a search that includes the word “Easyjet”.

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Stage 4: Entering CTR, conversion rates, and average order values

Navigate to [Input] CTR, Conv Rate and AOV.

This section is designed for you to enter an estimated CTR for each position, average conversion rate, and average order value (AOV).

You can access the CTR position data yourself by using Google Search Console. It would make sense to focus on non-branded keywords, as branded keywords would skew these figures.

Advanced Web Ranking also provides an average CTR for each position for different industries based on a sample of sites. This can be found by navigating to the categories tab on this page.

Note: If you leave this column blank, traffic estimates will use the Average Non Branded CTR from Advanced Web Rankings.

The Conversion rate and AOV data can be found using Google Analytics, though it’s worth noting that these figures will vary depending on the type of page. For example, a blog is likely to have a much lower conversion rate than a product page, so it’s worth bearing that in mind during your analysis.

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Stage 5: Output 1 — Keyword Breakdown

Navigate to [Output 1] Keyword Breakdown.

Here you can see the top 20 report with just the four columns that were previously selected: Keyword, Search Volume, Rank, and Ranking URL.

There are a number of additional columns:

  • Domain: The domain of the ranking URL.

  • Can our site outrank this domain?: This column tells you whether you “Can Compete” or “Cannot Compete” with each of the domains for their ranking position, depending on whether they are included in the domain list in [Input] Domain Selection.

  • Is it our domain?: This signifies whether it is the domain you have inputted in the [Input] Domain Selection tab.

  • Highest Potential Ranking Position for your site?: This column shows whether the column is the highest potential ranking position for that keyword.

  • Domain Name Mentioned in the Keyword?: This column tells you whether the domain name is mentioned in the keyword.

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Stage 6: Output 2 — Keyword Highest Rank

Navigate to [Output 2] Keyword Highest Rank.

Here you can see a summary for each keyword showing you the highest potential rank, estimated traffic, and conversions/revenue, as well as which domain/URL you could conceivably outrank.

There is also data related to your current rankings and potential increase in traffic, conversions, and revenue should you reach the highest potential ranking position.

These figures are based on your previous inputs, so go back and check what you have entered if you feel that any of the figures are noticeably different to what you would expect.

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Stage 7: Output 3 — Keyword Highest Rank

Navigate to [Output 3] Keyword Opportunities.

This output provides the top-level summary focusing on the keyword, search volume, and which domain/URL you could seek to replace. The metrics in this output are focused on potential additional traffic, conversions, and revenue.

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These figures are calculated by working out estimated current traffic, conversions and revenue based on current rank, search volume, conversion rate, and average order value and subtracting this from these figures should the domain rank in the highest potential position.

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Stage 8: Output 4 — Predicted Traffic/SOV Per Domain

Navigate to [Output 4] Predicted Traffic/SOV Per Domain.

This output provides an overview of the total estimated traffic per domain from the top 20 report, which allows you to see which domains are driving the highest amount of traffic across your keywords.

There is also a Share of Voice column, which pulls in the share of voice for each of these domains. The calculation is total traffic per domain/total traffic across all domains.

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On the right side of the page, your own domain’s current estimated traffic will be pulled through, alongside Share of Voice.

You can then enter competitor domains into the boxes below, which will provide total estimated traffic and share of voice with a comparison to your own domain.

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How does this Google Sheet work?

This tool is designed to allow you to import a top 20 rankings report for your priority keywords, select which domains you feel you aren’t able to outrank within your niche, and optionally enter in CTR figures by position, average conversion rate, and Average Order Value (AOV), if you have access to this data.

Then, in the [Output 3] Keyword Opportunities tab you’ll get a list of the best potential rankings you could get for each keyword, ordered by total additional traffic and revenue you could get from on top of what you are currently getting.

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In order to make all this magic happen there is a fair amount of Google Sheets spice happening in the background, so if you’re a Google Sheets enthusiast, you may enjoy taking a look under the hood to see how we’ve pulled it together.

The main formula used is the QUERY function in order to pull specific data from one sheet to another, which automatically updates based on the user’s selection on the [Input] Column Selection tab. This logic is used in all the main outputs.

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The domain selection uses REGEX in order to combine together a list of different domains which are used in the different outputs to determine whether a site can rank for a specific domain or not.

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Whenever working with rows, we use ARRAYFORMULAs in order to ensure that the formulas are applied to the whole column.

In the example below, we are using the regex above in order to determine whether a domain can or cannot compete for different ranking positions.

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The estimated traffic, conversions, and revenue positions take the inputs from the [Input] CTR, Conv Rate and AOV tab.In the example below, we are working out the estimated traffic by multiplying the highest potential rank (in column C), looking up the CTR for that position and then multiplying it by the Search Volume (in column B). The same logic applies to the conversions and revenue figures.

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Working out the difference in potential vs. current position is done by subtracting the estimated traffic from the current estimated traffic. There is some additional logic in there to catch whether the current traffic is higher than the potential traffic (as we obviously wouldn’t want the potential rank to be lower than the current rank).

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These are the fundamentals, but if you are interested further, do make a copy, unhide the hidden cells, and have a good look under the hood.

Final thoughts

Within SEO, it’s critical to focus on impact when delivering results.

When you have a list of keywords, it’s often tricky to know where you could potentially rank, what levels of traffic you can earn, and how this relates to conversions and revenue. Aira’s Keyword Opportunity Estimation Tool tries to answer these questions.

Please reach out on Twitter to let us know how you get on with it!

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MARKETING

How to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds

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How to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds

Welcome to Creator Columns, where we bring expert HubSpot Creator voices to the Blogs that inspire and help you grow better.

It’s the age of AI, and our job as marketers is to keep up.

My team at Foundation Marketing recently conducted an AI Marketing study surveying hundreds of marketers, and more than 84% of all leaders, managers, SEO experts, and specialists confirmed that they used AI in the workplace.

AI in the workplace data graphic, Foundation Labs

If you can overlook the fear-inducing headlines, this technology is making social media marketers more efficient and effective than ever. Translation: AI is good news for social media marketers.

Download Now: The 2024 State of Social Media Trends [Free Report]

In fact, I predict that the marketers not using AI in their workplace will be using it before the end of this year, and that number will move closer and closer to 100%.

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Social media and AI are two of the most revolutionizing technologies of the last few decades. Social media has changed the way we live, and AI is changing the way we work.

So, I’m going to condense and share the data, research, tools, and strategies that the Foundation Marketing Team and I have been working on over the last year to help you better wield the collective power of AI and social media.

Let’s jump into it.

What’s the role of AI in social marketing strategy?

In a recent episode of my podcast, Create Like The Greats, we dove into some fascinating findings about the impact of AI on marketers and social media professionals. Take a listen here:

Let’s dive a bit deeper into the benefits of this technology:

Benefits of AI in Social Media Strategy

AI is to social media what a conductor is to an orchestra — it brings everything together with precision and purpose. The applications of AI in a social media strategy are vast, but the virtuosos are few who can wield its potential to its fullest.

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AI to Conduct Customer Research

Imagine you’re a modern-day Indiana Jones, not dodging boulders or battling snakes, but rather navigating the vast, wild terrain of consumer preferences, trends, and feedback.

This is where AI thrives.

Using social media data, from posts on X to comments and shares, AI can take this information and turn it into insights surrounding your business and industry. Let’s say for example you’re a business that has 2,000 customer reviews on Google, Yelp, or a software review site like Capterra.

Leveraging AI you can now have all 2,000 of these customer reviews analyzed and summarized into an insightful report in a matter of minutes. You simply need to download all of them into a doc and then upload them to your favorite Generative Pre-trained Transformer (GPT) to get the insights and data you need.

But that’s not all.

You can become a Prompt Engineer and write ChatGPT asking it to help you better understand your audience. For example, if you’re trying to come up with a persona for people who enjoy marathons but also love kombucha you could write a prompt like this to ChatGPT:

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ChatGPT prompt example

The response that ChatGPT provided back is quite good:

GPT response example

Below this it went even deeper by including a lot of valuable customer research data:

  • Demographics
  • Psychographics
  • Consumer behaviors
  • Needs and preferences

And best of all…

It also included marketing recommendations.

The power of AI is unbelievable.

Social Media Content Using AI

AI’s helping hand can be unburdening for the creative spirit.

Instead of marketers having to come up with new copy every single month for posts, AI Social Caption generators are making it easier than ever to craft catchy status updates in the matter of seconds.

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Tools like HubSpot make it as easy as clicking a button and telling the AI tool what you’re looking to create a post about:

AI social media caption generator step 1

The best part of these AI tools is that they’re not limited to one channel.

Your AI social media content assistant can help you with LinkedIn content, X content, Facebook content, and even the captions that support your post on Instagram.

It can also help you navigate hashtags:

AI social media hashtags generator example, HubSpot

With AI social media tools that generate content ideas or even write posts, it’s not about robots replacing humans. It’s about making sure that the human creators on your team are focused on what really matters — adding that irreplaceable human touch.

Enhanced Personalization

You know that feeling when a brand gets you, like, really gets you?

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AI makes that possible through targeted content that’s tailored with a level of personalization you’d think was fortune-telling if the data didn’t paint a starker, more rational picture.

What do I mean?

Brands can engage more quickly with AI than ever before. In the early 2000s, a lot of brands spent millions of dollars to create social media listening rooms where they would hire social media managers to find and engage with any conversation happening online.

Thanks to AI, brands now have the ability to do this at scale with much fewer people all while still delivering quality engagement with the recipient.

Analytics and Insights

Tapping into AI to dissect the data gives you a CSI-like precision to figure out what works, what doesn’t, and what makes your audience tick. It’s the difference between guessing and knowing.

The best part about AI is that it can give you almost any expert at your fingertips.

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If you run a report surrounding the results of your social media content strategy directly from a site like LinkedIn, AI can review the top posts you’ve shared and give you clear feedback on what type of content is performing, why you should create more of it, and what days of the week your content is performing best.

This type of insight that would typically take hours to understand.

Now …

Thanks to the power of AI you can upload a spreadsheet filled with rows and columns of data just to be met with a handful of valuable insights a few minutes later.

Improved Customer Service

Want 24/7 support for your customers?

It’s now possible without human touch.

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Chatbots powered by AI are taking the lead on direct messaging experiences for brands on Facebook and other Meta properties to offer round-the-clock assistance.

The fact that AI can be trained on past customer queries and data to inform future queries and problems is a powerful development for social media managers.

Advertising on Social Media with AI

The majority of ad networks have used some variation of AI to manage their bidding system for years. Now, thanks to AI and its ability to be incorporated in more tools, brands are now able to use AI to create better and more interesting ad campaigns than ever before.

Brands can use AI to create images using tools like Midjourney and DALL-E in seconds.

Brands can use AI to create better copy for their social media ads.

Brands can use AI tools to support their bidding strategies.

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The power of AI and social media is continuing to evolve daily and it’s not exclusively found in the organic side of the coin. Paid media on social media is being shaken up due to AI just the same.

How to Implement AI into Your Social Media Strategy

Ready to hit “Go” on your AI-powered social media revolution?

Don’t just start the engine and hope for the best. Remember the importance of building a strategy first. In this video, you can learn some of the most important factors ranging from (but not limited to) SMART goals and leveraging influencers in your day-to-day work:

The following seven steps are crucial to building a social media strategy:

  1. Identify Your AI and Social Media Goals
  2. Validate Your AI-Related Assumptions
  3. Conduct Persona and Audience Research
  4. Select the Right Social Channels
  5. Identify Key Metrics and KPIs
  6. Choose the Right AI Tools
  7. Evaluate and Refine Your Social Media and AI Strategy

Keep reading, roll up your sleeves, and follow this roadmap:

1. Identify Your AI and Social Media Goals

If you’re just dipping your toes into the AI sea, start by defining clear objectives.

Is it to boost engagement? Streamline your content creation? Or simply understand your audience better? It’s important that you spend time understanding what you want to achieve.

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For example, say you’re a content marketing agency like Foundation and you’re trying to increase your presence on LinkedIn. The specificity of this goal will help you understand the initiatives you want to achieve and determine which AI tools could help you make that happen.

Are there AI tools that will help you create content more efficiently? Are there AI tools that will help you optimize LinkedIn Ads? Are there AI tools that can help with content repurposing? All of these things are possible and having a goal clearly identified will help maximize the impact. Learn more in this Foundation Marketing piece on incorporating AI into your content workflow.

Once you have identified your goals, it’s time to get your team on board and assess what tools are available in the market.

Recommended Resources:

2. Validate Your AI-Related Assumptions

Assumptions are dangerous — especially when it comes to implementing new tech.

Don’t assume AI is going to fix all your problems.

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Instead, start with small experiments and track their progress carefully.

3. Conduct Persona and Audience Research

Social media isn’t something that you can just jump into.

You need to understand your audience and ideal customers. AI can help with this, but you’ll need to be familiar with best practices. If you need a primer, this will help:

Once you understand the basics, consider ways in which AI can augment your approach.

4. Select the Right Social Channels

Not every social media channel is the same.

It’s important that you understand what channel is right for you and embrace it.

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The way you use AI for X is going to be different from the way you use AI for LinkedIn. On X, you might use AI to help you develop a long-form thread that is filled with facts and figures. On LinkedIn however, you might use AI to repurpose a blog post and turn it into a carousel PDF. The content that works on X and that AI can facilitate creating is different from the content that you can create and use on LinkedIn.

The audiences are different.

The content formats are different.

So operate and create a plan accordingly.

Recommended Tools and Resources:

5. Identify Key Metrics and KPIs

What metrics are you trying to influence the most?

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Spend time understanding the social media metrics that matter to your business and make sure that they’re prioritized as you think about the ways in which you use AI.

These are a few that matter most:

  • Reach: Post reach signifies the count of unique users who viewed your post. How much of your content truly makes its way to users’ feeds?
  • Clicks: This refers to the number of clicks on your content or account. Monitoring clicks per campaign is crucial for grasping what sparks curiosity or motivates people to make a purchase.
  • Engagement: The total social interactions divided by the number of impressions. This metric reveals how effectively your audience perceives you and their readiness to engage.

Of course, it’s going to depend greatly on your business.

But with this information, you can ensure that your AI social media strategy is rooted in goals.

6. Choose the Right AI Tools

The AI landscape is filled with trash and treasure.

Pick AI tools that are most likely to align with your needs and your level of tech-savviness.

For example, if you’re a blogger creating content about pizza recipes, you can use HubSpot’s AI social caption generator to write the message on your behalf:

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AI social media generator example

The benefit of an AI tool like HubSpot and the caption generator is that what at one point took 30-40 minutes to come up with — you can now have it at your fingertips in seconds. The HubSpot AI caption generator is trained on tons of data around social media content and makes it easy for you to get inspiration or final drafts on what can be used to create great content.

Consider your budget, the learning curve, and what kind of support the tool offers.

7. Evaluate and Refine Your Social Media and AI Strategy

AI isn’t a magic wand; it’s a set of complex tools and technology.

You need to be willing to pivot as things come to fruition.

If you notice that a certain activity is falling flat, consider how AI can support that process.

Did you notice that your engagement isn’t where you want it to be? Consider using an AI tool to assist with crafting more engaging social media posts.

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Make AI Work for You — Now and in the Future

AI has the power to revolutionize your social media strategy in ways you may have never thought possible. With its ability to conduct customer research, create personalized content, and so much more, thinking about the future of social media is fascinating.

We’re going through one of the most interesting times in history.

Stay equipped to ride the way of AI and ensure that you’re embracing the best practices outlined in this piece to get the most out of the technology.

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Advertising in local markets: A playbook for success

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Advertising in local markets: A playbook for success

Many brands, such as those in the home services industry or a local grocery chain, market to specific locations, cities or regions. There are also national brands that want to expand in specific local markets. 

Regardless of the company or purpose, advertising on a local scale has different tactics than on a national scale. Brands need to connect their messaging directly with the specific communities they serve and media to their target demo. Here’s a playbook to help your company succeed when marketing on a local scale.  

1. Understand local vs. national campaigns

Local advertising differs from national campaigns in several ways: 

  • Audience specificity: By zooming in on precise geographic areas, brands can tailor messaging to align with local communities’ customs, preferences and nuances. This precision targeting ensures that your message resonates with the right target audience.
  • Budget friendliness: Local advertising is often more accessible for small businesses. Local campaign costs are lower, enabling brands to invest strategically within targeted locales. This budget-friendly nature does not diminish the need for strategic planning; instead, it emphasizes allocating resources wisely to maximize returns. As a result, testing budgets can be allocated across multiple markets to maximize learnings for further market expansion.
  • Channel selection: Selecting the correct channels is vital for effective local advertising. Local newspapers, radio stations, digital platforms and community events each offer advantages. The key lies in understanding where your target audience spends time and focusing efforts to ensure optimal engagement.
  • Flexibility and agility: Local campaigns can be adjusted more swiftly in response to market feedback or changes, allowing brands to stay relevant and responsive. 

Maintaining brand consistency across local touchpoints reinforces brand identity and builds a strong, recognizable brand across markets. 

2. Leverage customized audience segmentation 

Customized audience segmentation is the process of dividing a market into distinct groups based on specific demographic criteria. This marketing segmentation supports the development of targeted messaging and media plans for local markets. 

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For example, a coffee chain might cater to two distinct segments: young professionals and retirees. After identifying these segments, the chain can craft messages, offers and media strategies relating to each group’s preferences and lifestyle.

To reach young professionals in downtown areas, the chain might focus on convenience, quality coffee and a vibrant atmosphere that is conducive to work and socializing. Targeted advertising on Facebook, Instagram or Connected TV, along with digital signage near office complexes, could capture the attention of this demographic, emphasizing quick service and premium blends.

Conversely, for retirees in residential areas, the chain could highlight a cozy ambiance, friendly service and promotions such as senior discounts. Advertisements in local print publications, community newsletters, radio stations and events like senior coffee mornings would foster a sense of community and belonging.

Dig deeper: Niche advertising: 7 actionable tactics for targeted marketing

3. Adapt to local market dynamics

Various factors influence local market dynamics. Brands that navigate changes effectively maintain a strong audience connection and stay ahead in the market. Here’s how consumer sentiment and behavior may evolve within a local market and the corresponding adjustments brands can make. 

  • Cultural shifts, such as changes in demographics or societal norms, can alter consumer preferences within a local community. For example, a neighborhood experiencing gentrification may see demand rise for specific products or services.
    • Respond by updating your messaging to reflect the evolving cultural landscape, ensuring it resonates with the new demographic profile.
  • Economic conditions are crucial. For example, during downturns, consumers often prioritize value and practicality.
    • Highlight affordable options or emphasize the practical benefits of your offerings to ensure messaging aligns with consumers’ financial priorities. The impact is unique to each market and the marketing message must also be dynamic.
  • Seasonal trends impact consumer behavior.
    • Align your promotions and creative content with changing seasons or local events to make your offerings timely and relevant.
  • New competitors. The competitive landscape demands vigilance because new entrants or innovative competitor campaigns can shift consumer preferences.
    • Differentiate by focusing on your unique selling propositions, such as quality, customer service or community involvement, to retain consumer interest and loyalty.

4. Apply data and predictive analytics 

Data and predictive analytics are indispensable tools for successfully reaching local target markets. These technologies provide consumer behavior insights, enabling you to anticipate market trends and adjust strategies proactively. 

  • Price optimization: By analyzing consumer demand, competitor pricing and market conditions, data analytics enables you to set prices that attract customers while ensuring profitability.
  • Competitor analysis: Through analysis, brands can understand their positioning within the local market landscape and identify opportunities and threats. Predictive analytics offer foresight into competitors’ potential moves, allowing you to strategize effectively to maintain a competitive edge.
  • Consumer behavior: Forecasting consumer behavior allows your brand to tailor offerings and marketing messages to meet evolving consumer needs and enhance engagement.
  • Marketing effectiveness: Analytics track the success of advertising campaigns, providing insights into which strategies drive conversions and sales. This feedback loop enables continuous optimization of marketing efforts for maximum impact.
  • Inventory management: In supply chain management, data analytics predict demand fluctuations, ensuring inventory levels align with market needs. This efficiency prevents stockouts or excess inventory, optimizing operational costs and meeting consumer expectations.

Dig deeper: Why you should add predictive modeling to your marketing mix

5. Counter external market influences

Consider a clothing retailer preparing for a spring collection launch. By analyzing historical weather data and using predictive analytics, the brand forecasts an unseasonably cool start to spring. Anticipating this, the retailer adjusts its campaign to highlight transitional pieces suitable for cooler weather, ensuring relevance despite an unexpected chill.

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Simultaneously, predictive models signal an upcoming spike in local media advertising rates due to increased market demand. Retailers respond by reallocating a portion of advertising budgets to digital channels, which offer more flexibility and lower costs than traditional media. This shift enables brands to maintain visibility and engagement without exceeding budget, mitigating the impact of external forces on advertising.

6. Build consumer confidence with messaging

Localized messaging and tailored customer service enhance consumer confidence by demonstrating your brand’s understanding of the community. For instance, a grocery store that curates cooking classes featuring local cuisine or sponsors community events shows commitment to local culture and consumer interests. 

Similarly, a bookstore highlighting local authors or topics relevant to the community resonates with local customers. Additionally, providing service that addresses local needs — such as bilingual service and local event support — reinforces the brand’s values and response to the community. 

Through these localized approaches, brands can build trust and loyalty, bridging the gap between corporate presence and local relevance.

7. Dominate with local advertising 

To dominate local markets, brands must:

  • Harness hyper-targeted segmentation and geo-targeted advertising to reach and engage precise audiences.
  • Create localized content that reflects community values, engage in community events, optimize campaigns for mobile and track results.
  • Fine-tune strategies, outperform competitors and foster lasting relationships with customers.

These strategies will enable your message to resonate with local consumers, differentiate you in competitive markets and ensure you become a major player in your specific area. 



Dig deeper: The 5 critical elements for local marketing success

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Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.

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Battling for Attention in the 2024 Election Year Media Frenzy

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Battling for Attention in the 2024 Election Year Media Frenzy

Battling for Attention in the 2024 Election Year Media Frenzy

As we march closer to the 2024 U.S. presidential election, CMOs and marketing leaders need to prepare for a significant shift in the digital advertising landscape. Election years have always posed unique challenges for advertisers, but the growing dominance of digital media has made the impact more profound than ever before.

In this article, we’ll explore the key factors that will shape the advertising environment in the coming months and provide actionable insights to help you navigate these turbulent waters.

The Digital Battleground

The rise of cord-cutting and the shift towards digital media consumption have fundamentally altered the advertising landscape in recent years. As traditional TV viewership declines, political campaigns have had to adapt their strategies to reach voters where they are spending their time: on digital platforms.

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According to a recent report by eMarketer, the number of cord-cutters in the U.S. is expected to reach 65.1 million by the end of 2023, representing a 6.9% increase from 2022. This trend is projected to continue, with the number of cord-cutters reaching 72.2 million by 2025.

Moreover, a survey conducted by Pew Research Center in 2023 found that 62% of U.S. adults do not have a cable or satellite TV subscription, up from 61% in 2022 and 50% in 2019. This data further underscores the accelerating shift away from traditional TV and towards streaming and digital media platforms.

As these trends continue, political advertisers will have no choice but to follow their audiences to digital channels. In the 2022 midterm elections, digital ad spending by political campaigns reached $1.2 billion, a 50% increase from the 2018 midterms. With the 2024 presidential election on the horizon, this figure is expected to grow exponentially, as campaigns compete for the attention of an increasingly digital-first electorate.

For brands and advertisers, this means that the competition for digital ad space will be fiercer than ever before. As political ad spending continues to migrate to platforms like Meta, YouTube, and connected TV, the cost of advertising will likely surge, making it more challenging for non-political advertisers to reach their target audiences.

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To navigate this complex and constantly evolving landscape, CMOs and their teams will need to be proactive, data-driven, and willing to experiment with new strategies and channels. By staying ahead of the curve and adapting to the changing media consumption habits of their audiences, brands can position themselves for success in the face of the electoral advertising onslaught.

Rising Costs and Limited Inventory

As political advertisers flood the digital market, the cost of advertising is expected to skyrocket. CPMs (cost per thousand impressions) will likely experience a steady climb throughout the year, with significant spikes anticipated in May, as college students come home from school and become more engaged in political conversations, and around major campaign events like presidential debates.

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For media buyers and their teams, this means that the tried-and-true strategies of years past may no longer be sufficient. Brands will need to be nimble, adaptable, and willing to explore new tactics to stay ahead of the game.

Black Friday and Cyber Monday: A Perfect Storm

The challenges of election year advertising will be particularly acute during the critical holiday shopping season. Black Friday and Cyber Monday, which have historically been goldmines for advertisers, will be more expensive and competitive than ever in 2024, as they coincide with the final weeks of the presidential campaign.

To avoid being drowned out by the political noise, brands will need to start planning their holiday campaigns earlier than usual. Building up audiences and crafting compelling creative assets well in advance will be essential to success, as will a willingness to explore alternative channels and tactics. Relying on cold audiences come Q4 will lead to exceptionally high costs that may be detrimental to many businesses.

Navigating the Chaos

While the challenges of election year advertising can seem daunting, there are steps that media buyers and their teams can take to mitigate the impact and even thrive in this environment. Here are a few key strategies to keep in mind:

Start early and plan for contingencies: Begin planning your Q3 and Q4 campaigns as early as possible, with a focus on building up your target audiences and developing a robust library of creative assets.

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Be sure to build in contingency budgets to account for potential cost increases, and be prepared to pivot your strategy as the landscape evolves.

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Embrace alternative channels: Consider diversifying your media mix to include channels that may be less impacted by political ad spending, such as influencer marketing, podcast advertising, or sponsored content. Investing in owned media channels, like email marketing and mobile apps, can also provide a direct line to your customers without the need to compete for ad space.

Owned channels will be more important than ever. Use cheaper months leading up to the election to build your email lists and existing customer base so that your BF/CM can leverage your owned channels and warm audiences.

Craft compelling, shareable content: In a crowded and noisy advertising environment, creating content that resonates with your target audience will be more important than ever. Focus on developing authentic, engaging content that aligns with your brand values and speaks directly to your customers’ needs and desires.

By tapping into the power of emotional triggers and social proof, you can create content that not only cuts through the clutter but also inspires organic sharing and amplification.

Reflections

The 2024 election year will undoubtedly bring new challenges and complexities to the world of digital advertising. But by staying informed, adaptable, and strategic in your approach, you can navigate this landscape successfully and even find new opportunities for growth and engagement.

As a media buyer or agnecy, your role in steering your brand through these uncharted waters will be critical. By starting your planning early, embracing alternative channels and tactics, and focusing on creating authentic, resonant content, you can not only survive but thrive in the face of election year disruptions.

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So while the road ahead may be uncertain, one thing is clear: the brands that approach this challenge with creativity, agility, and a steadfast commitment to their customers will be the ones that emerge stronger on the other side.


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