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24 Ways to Spend Your Marketing Budget Next Quarter

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24 Ways to Spend Your Marketing Budget Next Quarter

Whether you have use-it-or-lose-it funds left over from the last quarter or are putting together a marketing budget for the first time, it’s valuable to know which strategies will offer the highest ROI.

Click here to download 8 free marketing budget templates.

These 24 ideas cover content, advertising, social media, SEO, and lots more.

1. Test new versions of calls-to-action that are performing poorly.

Estimated cost: $50 per call-to-action

This test helps you identify the best ways to move prospects further along in their buying journey. To implement CTA testing, sort CTAs by click rate and conversion rate in your analytics software.

Next, redesign the ones with the lowest performance and test them. One way to do this is by performing an A/B test, which will show you which design your audience prefers.

Friendbuy improved call-to-action (CTA) clickthrough rate by 211% with A/B testing, for example.

Friendbuy’s A/B testing

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A simple design change like choosing a different photo, or tweaking the wording to connect with leads can convert more visitors.

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2. Invest in user experience insight tools to monitor user behavior.

Estimated cost: $150

User experience insight tools help you see how your audience interacts with your website. You’ll learn if they’re scrolling deep enough to find your beautifully designed CTA. You may even learn that your CTA button isn’t working — a good explanation for low conversion rates!

Here’s an example: Charli, a web designer, discovered that one of her product pages only got a 0.9% conversion rate from 1,000 views.

When she monitored her page using Hotjar, she found that when visitors clicked the “Buy Now” button, they were taken to yet another “Buy Now” button, causing buyer friction.

Install heat map tracking software, like Hotjar or Crazy Egg, on your landing pages to uncover blockers and fix those.

For more marketing strategies, check out this episode of Marketing Against the Grain.

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3. Revise landing page copy.

Estimated cost: $300 per page

Do you have landing pages with conversion rates of less than 15%? Rework the language and/or design so it’s tuned into your target persona’s needs.

You can use social media or industry-specific communities for research to understand your users’ pain points. Forums like Reddit can help too.

Make a post, asking your community how they feel about a topic. Or use a site:domain search to narrow down existing results in public communities.

Finding specific info about communities you want to market to

No matter what changes you make, it’s always a good idea to do A/B testing before you make them permanent.

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4. Find SEO keyword opportunities on your website.

Estimated cost: $250

SEO keywords help you leverage search engines as a distribution channel for your content. Consider that Google processes approximately 5.6 billion searches per day — and that’s an important distribution channel for any business.

One of the ways to discover keyword opportunities you can pull traffic for is to look in the “results” section of your Search Console property. Scroll through the keywords to find keywords you’re ranking for without a dedicated page.

On one of my hobby sites, for example, I’m ranking for “support bands for apron belly” and “best pants for apron belly” — and I don’t have blog posts for either.

Using search console to find keywords to optimize for with your marketing budget

I could create blog posts on those keywords — or landing pages if they were landing page keywords — and start ranking right away.

Pro tip: Use HubSpot’s SEO Marketing Tools to monitor your SEO performance on auto. That way, you never miss an opportunity to optimize.

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5. Do a social media engagement analysis.

Estimated cost: $250

There’s no point throwing money into marketing channels that don’t work when you can double down on those that do.

Audit your social media accounts and messages to reveal which platforms and messaging received the most meaningful engagement.

For example, you may find that TikTok generated more conversions for your business than Twitter. Once you have that information, you can prioritize marketing on TikTok while you figure out Twitter.

6. Conduct a usability test.

Estimated cost: $350

A usability test gives real feedback from potential customers. Similar to the results you get from a Net Promoter Score, you’ll figure out what customers like and don’t like about your web pages.

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You’ll need a tool like Hotjar to run a usability test. Then you’ll need to:

  • Recruit participants from your target population. These could be your clients or website users who opt-in to participate in your test.
  • Assign representative tasks to participants.
  • Observe how the participants carry out the task.

From there, you can figure out how to revise the content on your website to be more user-friendly. For instance, if you find that your product pages aren’t easy to navigate, you can mark this as a task to work on for the next year.

7. Try ad retargeting to boost performance.

Estimated cost: $500

Retargeting ads give you another chance to show up in front of a previously interested lead with a new, personalized offer.

For example, I was on the Firstbase website the other day. Since then, I have gotten personalized ads that made me click to learn something new about them on social media.

Firstbase retargeting ads

Ad retargeting can give your acquisition numbers a boost. Look for ad retargeting options on social networks like Facebook, so you can build and revise ads within the channel.

8. Experiment with social media advertising.

Estimated cost: $500

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Social media offers the ability to target very specific audiences and craft engaging messaging based on the pages they visit most with social media advertising.

You may want to try advertising if you’re already successful with different social media campaigns. It is possible to target your audience and promote a post to see if it gets more traffic. You can also test affordable ad retargeting choices like LinkedIn Sponsored updates.

9. Consider influencer marketing.

Estimated cost: $100 – $10,000

You may not have thousands of dollars in your budget. However, experimenting with influencer marketing does not necessarily come with a hefty price tag. If you have some wiggle room in your budget, you can partner with nano-influencers or micro-influencers.

Shopify estimates that nano-influencers, with 1,000 to 10,000 followers, charge up to $100 per post. Micro-influencers with 10,000-50,000 followers charge between $100 and $500 per post. oUser Report Data Here

If you don’t have an influencer strategy, it’s time to start setting the foundation. HubSpot research found that influencer marketing will continue to grow in 2023, reaching its highest ROI thus far.

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Of marketers using influencer marketing, 89% will increase or maintain their investment next year.

10. Invest in employee knowledge.

Estimated cost: $500

Because marketing is an ever-changing industry, investing in learning opportunities makes your team well-equipped to excel in their day-to-day tasks. Training can come in the form of ebooks, blog posts, or webinars.

Additionally, scope out courses online that will give team members a deeper understanding of the industry.

For example, HubSpot Academy offers courses about content marketing, social media marketing, and sales, in digestible, interactive lessons. Courses update as needed, so you don’t have to worry about getting a certification for an outdated skill set.

Here’s a cross-section of just some of the courses in the academy.

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Hubspot Academy

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11. Celebrate your success in the past quarter.

Estimated cost: $500

Remember to allocate some funds to celebrate your colleagues and their wins for the quarter. This doesn’t have to be a huge blowout party, but it could be something small (like sending colleagues a care package) that will remind your team that you appreciate their hard work.

Come up with superlatives and present them in a year-end meeting. Awards like “Best Movie Buff” or “Funniest Marketer” build up morale.

12. Perform customer research.

Estimated cost: $500

You may have done previous customer research at the start of the quarter, but allocate some funds on an ongoing basis to understand your customers’ behavior.

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Luke Lee is the CEO of PalaLeather, a fashion design brand. Lee says, “We always make sure to allocate funds for market research and consumer analysis. It helps us understand our target audience and what they are looking for in terms of products or services.”

How are you monitoring the web behavior of your customers? Are you investing in social listening tools? And have you revised your personas to reflect the change in customers?

Invest in tools that will help you accurately perform customer research so you can develop new ideas and strategies for future campaigns.

13. Design an infographic.

Estimated cost: $150

Run an analysis, such as a thorough analysis of customer demographics on Twitter, and visually represent your findings in an infographic. This infographic can provide a bird’s-eye insight into specific sections of your customer base.

Additionally, infographics can serve as great material for a blog post.

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Check out this infographic from NPR. Not only does it utilize brand colors, but the infographic also shows listener data with unique visual representations.

 Spending your marketing budget on infographics, sample from NPR

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If you were to write a blog post about social media demographics in the marketing industry, for example, you could use the Twitter infographic to illustrate your findings. You can use a tool like Canva to design your infographic (plus, it’s a tool that integrates with HubSpot).

14. Invest in short-form video.

Estimated cost: $100

Making your first short-form video only requires access to a smartphone. However, if your team has extra budget, consider investing in the tools needed to level up your production. That can include a clip-on lav mic or a tripod for your phone.

HubSpot research found that the use of video will grow significantly in 2023. We found that 24% of brands plan to invest more in video than any other media format.

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15. Optimize your outdated blog posts for conversion.

Estimated cost: $100

Because the life of a blog post can span several months, and because you’ve published new content offers, you may need to revisit old posts and see if there’s a more relevant call-to-action to improve conversion on your blog.

SEO tools help identify posts that are falling in traffic and can be updated with new information. Keep an archive of previous blog posts to assist with keeping track of blog performance.

16. Perform a sales analysis.

Estimated cost: $1,000

Finding qualified contacts in your CRM that your company wasn’t able to connect with could close sales that didn’t happen last quarter.

With a sales analysis, you can identify those contacts so you know exactly whom to target within the next few months.

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Next, come up with ideas to reach out to those customers and connect with them. There are a couple of different ways to do this. You can:

  • Send a personalized email.
  • Create a specialized offer just for closing sales.
  • Look into performing an account-based marketing campaign.

17. Invest in a better CRM integration.

Estimated cost: $300

Does your website automatically send leads into your CRM? Can your sales and marketing teams share feedback on leads? If not, now might be the time to make adjustments to your CRM integration to make it work better for your company.

Look into CRMs that automatically integrate with the programs you use daily. There’s a reason why HubSpot is the number one choice for many; we integrate with everything!

HubSpot’s integrations

This will streamline all the work you need to get done. Collaboration between teams will improve as well.

18. Conduct an SEO audit on your website.

Estimated cost: $500

SEO audits clean up your website, improve the user experience, and boost the chance of webpages being found on search engines. When you improve the SEO language on specific pages, you’re making them easier to be crawled by Google and recommended to searchers.

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Reevaluate your website for SEO opportunities every three months. Have your core webpages reviewed to optimize on-page factors, and review web copy for missing keywords.

19. Plan and script a webinar for the next quarter.

Estimated cost: $200

Of marketers, 16% are planning to leverage webinars for the first time in 2023. That’s because webinars are a great way to generate new leads. Focus on topics that solve your target persona’s pain points and produce a high-quality webinar. It can be live and saved for later or prerecorded.

Persona pain points you can focus on are topics you know your audience has questions about, such as sales analytics. For a webinar like this, reach out to a top salesperson at your company and ask them to host. Alternatively, interview them about topics they see as trending.

Once you shoot and edit the webinar, you can promote it via email subscribers and on social media.

Spending your marketing budget promoting webinars

20. Localize your website for an international audience.

Estimated cost: $2,000

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If you have an international audience or are planning to expand internationally, remember to update your website. A localized website will make the content on it relatable to local audiences. Go beyond translating the language and think of what customers in other countries will really love.

For instance, research some topical elements and offers that are popular in different regions — really familiarize yourself with culturally relevant graphics and website formats that are interesting to global audiences.

21. Compile an ebook of relevant information.

Estimated cost: $500

An ebook is another content marketing idea for generating leads. Studies or experiments you’ve conducted over the course of the quarter that provided interesting results could be very valuable for your customers.

Look at ebooks that are impressive and take notes of what’s inspiring about them.

Decide on a topic for your ebook and work on formatting it as an offer to subscribers and for social sharing. Additionally, create an offer you can add on a couple of relevant topics to expand the reach of your ebook.

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22. Contact industry thought leaders for an interview.

Estimated cost: $500

HubSpot likes to host “HubTalks,” in which we bring different thought leaders in for an interview. This could be a book author, educator, medical professional, or motivational speaker. These talks are meant to inform or entertain attendees.

Talks like these expand the knowledge of employees and give them opportunities to explore their interests. Have your team vote on possible interviewees or topics so you’re picking the right thought leaders, and ask them to submit questions. This is a great opportunity for team bonding and learning.

23. Invest in search ads.

Estimated cost: $1,000

Search remains one of the most effective channels for advertising. The people searching are already qualified users, as opposed to people on social media who aren’t.

Sid Kumar, director of product marketing at Exoprise, says they spend two-thirds of their marketing budget on search ads. “Our annual budget is around $300,000, out of which we spend $200,000 on paid ads (around 66%). $150,000 of that portion goes into Google Ads, while the rest is on Bing,” he says.

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Search ads can be a cost-effective way to drive new leads, especially if you target keywords that are high intent (ones that indicate a searcher’s close to making a purchase).

“We have vetted Google Ads leads for many years and found that they are the most reliable for the business,” Kumar adds.

Optimize your website and landing pages for conversions, and make sure you track campaign performance by metrics like conversion rate and lead cost. This will help you to pinpoint areas of the campaign that are performing well, and areas that need attention.

24. Outsource content creation.

Estimated cost: $800 per article

Outsourcing content creation can be a smart move if you’re struggling to gain traction with content. It can free up your time to focus on other tasks, frees up internal resources, and can result in improved content quality — especially if you hire expert freelancers.

“We work with content creators to work on our IT blog,” says Dario Diament, vice president of marketing at InvGate. “Content is a strategic element for us. In order to scale we need third-party resources to help us with that. That’s why we spend 20% of our budget on content right now.”

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Eric Doty, content lead at Dock, is “going all-in on SEO from almost day one. So we spend the bulk of our marketing budget on freelance writers and tools to manage that process. I spend a third of our budget on freelance content writers that contribute at least 6-8 blog posts per month.”

Spending Your Marketing Budget

It’s tough to make sure you’re spending your budget wisely. When you stop and think about what your team needs, and what your audience needs, however, you can begin to form a pretty good idea of how to plan out those resources.

Once you do a little research, plan your budget accordingly, and get ready to step into a new quarter on a great note.

Editor’s Note: This post was originally published in June 2020 and has been updated for comprehensiveness.

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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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