Avoid misleading trends by staying focused on your marketing goals and objectives
Summary:
- Don’t focus on one booming channel when it seems to be the hot ticket item of the moment
- Develop a clear understanding of whom you are targeting, what ways they consume content, and which channels are the best to reach them
- Define what success looks like so you spend your ad dollars as effectively as possible
Ad dollars tend to follow the buzz when it comes to where audiences are spending their time consuming new content. Right now, the rapid growth of both podcasting and streaming during the pandemic has everyone’s attention. And advertisers want to jump into these mediums as quickly as possible.
We have seen this many times before and understand the excitement around a booming channel. And while we firmly believe in the power of podcasting to reach a growing and diverse audience, we always want to urge our advertisers to stop and assess rather than jumping in headfirst.
The top three questions every advertiser should ask before going all-in on a channel are:
- Whom am I targeting?
- Which channels are best to reach those audiences?
- What does success look like?
Let’s take a closer look at each one.
Avoid rushing into one marketing channel
Many advertisers approach us dead set on getting into one specific channel. They hear success stories in podcasting, for example, and want a piece of that pie. And it’s no wonder why—according to Inside Radio, by September of last year, there were 855 advertisers on the most popular podcasts, a 42 percent increase from April.
However, your target audience really should dictate the channel or channels that make the most sense to pursue. So, you should first define your audience before considering which channel or channels present the best opportunity. You should then follow up this research with questions that either you or your agency can use to draw a clear picture of this audience and their habits.
Some examples of questions you should ask include:
- Where does my audience spend most of their time consuming content?
- What types of content or topics interest them the most?
- What formats or platforms do they prefer to use to consume this content?
- What sort of people are they closely following (e.g., influencers)?
Once you have developed a clear picture of your ideal audience and all of the details of their content consumption, you can start narrowing down your target channels.
Which marketing channels are best to reach my audience?
While exciting new channels such as influencer marketing draw advertisers like moths to a flame, it’s important to consider whether or not these channels are right for your brand before jumping in full force.
For instance, if you are looking to target a 35-year-old male, data has proven that radio is the best channel to reach that specific audience. By comparing your target market to the core audience of each channel, you can prioritize how to spend your ad dollars. This will ensure that you don’t over-invest in a channel that isn’t the right match in the long run and won’t give you the ROI you’re looking for.
To get started, here’s a quick snapshot of the most popular channels and the demographics that mostly use them:
*LRA: Largest Reach by Age
Once you have identified the channels that present the best opportunity to reach your target audience, you need to determine what success looks like so that you can optimize accordingly.
You have your targeting down, but what about your goals?
Defining your short- and long-term goals will help you determine which channels you should pause, double down on, or leave unchanged. These goals can range from increasing sales, customer retention, or brand awareness. Monitoring how each channel is moving the needle for your respective objectives will make sure that you are getting the most out of every ad dollar you spend, maximizing the performance of the channels that are yielding the best results.
To find out more about how we help you identify the best channel(s) for your brand and marketing goals, reach out to us today and get your campaigns launched in no time.
Additional Reading:
How to Create a Successful Influencer Marketing Strategy, Part 1
0 to 100 Real Fast: How Burrow Doubled ROI Year-Over-Year With Podcast Advertising
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Photo by Campaign Creators on Unsplash