Archive for paid advertising

Have you Saturated Your Market? How to Expand Your Reach

Reading Time: 4 minutes

It happens. Sales go stagnant… not growing. You’re doing everything right… blogging… posting to social media… videos… monthly newsletters… basically everything you can do without spending extra cash… just sweat equity. You have no reach.

However, traffic to your site hasn’t grown… you haven’t gotten any new Facebook likes or Twitter followers in a while… and no one has downloaded your freebie offer in months.

What’s going on?

You’ve saturated your market. You are preaching to the choir and not getting any new eyes on your content. You have to expand your audience. How? By spending a little money.

Who are you trying to reach?

First, you must have your target market(s) clearly identified. You can’t do successful paid advertising without this! (Get a Free Workbook)

Which network will give you the best reach?Which Network(s)?

Second, you must figure out which network they frequent the most. (This post on How to Reach the Generations on Social Media will help.)

Age brackets aside, if you’re trying to reach the consumer (B2C), you should focus on Facebook, Pinterest, Instagram even Snapchat. If you’re B2B (Business-to-Business) you should look at LinkedIn, Twitter and Facebook. Yes, Facebook.

Everybody’s on Facebook.

What’s really neat, is you can pick EXACTLY who you want to reach:

  • Age
  • Gender
  • Location
  • Income
  • Interests
  • And much more!

How much does it cost?

Well, you set your budget.

For instance, recently, for Greater Phoenix SCORE, we wanted to promote a class on “How to Start a Nonprofit Organization”. They had saturated the market and needed to expand their reach.

We found, on Facebook, people who were interested in charities, causes and nonprofits. We set a budget of $60 for the whole promotion. You’re charged based on how many people click on the ad. That’s called a Click-Thru Rate.

We figured that if a person with those interests saw the event post, if they themselves weren’t interested, they might know someone who was. And that’s exactly what happened. We saw in the comments area of the event, several people “tagging” a friend.

What’s tagging? Tagging is mentioning a friend in a post or comment. Usually they think the friend would be interested in the post. The friend is notified, thus expanding your exposure (reach).

Each network is different. Advertising is how the networks make money.

Furthermore, paid social media advertising works — especially if you’ve saturated your market and need to reach new eyes.

Yes, you need to budget advertising dollars. What’s more, you can test ads by spending just $25.

You need to ask yourself what you want to accomplish?

  • Selling a product
  • Attendance to an event
  • Drawing people to your website

Customer focus for better reachThen, think of an eye-catching, curiosity-piquing headline and sub-headline. Put sufficient information again, to pique curiosity and desire to get further information. Finally, link it to a landing page with the final product/offer.

The landing page should not have any other information other than the offer. No links to anything else but the call-to-action. You don’t want your interested party to get distracted with other links.

Try different offers and headlines and see which one works best. What’s nice about online advertising is everything is tracked so you know what your ROI (return on investment) is. If you spend $50 on an ad that generates $500 worth of sales, then your ROI is $450. That works.

What’s also nice is that all of the networks have very helpful sites explaining how their ads and tracking work. It’s how they make money so they want you to be successful.

There are no guarantees in online marketing, so make sure you’ve got the right budget and are ready to spend money to test your marketing abilities.

You can become social savvy!