Do you have an idea for a new business? Are you looking to expand into new areas? Are you looking for new clients? When discussing website requirements with my clients, I try to figure out who their target audience is. With this information, I can use Facebook market research to find how large this group is and give advice on how to attract them to their website. This is all part of the value-added service I offer to all my clients.
For this article, I will use the example of a business that offers leadership training to C-suite individuals across Canada. I will use the Facebook ad platform to discover different target audiences. The beauty of using this approach is I can save the research for the client and they can later implement the same data in a Facebook marketing campaign.
Create marketing goal
According to Fortune, the average age of a Canadian CEO is 58, 86% are male, and 61% consider themselves entrepreneurs. Let us see what the Facebook data says. I log in to my Facebook account and under the inverted triangle on the far right of the page, I select ‘Create Ads’. I select ‘Traffic’ as my marketing goal (I want to drive traffic to my website). On the next screen, I set the location to Canada, age range between 35 and 55, gender to all, and daily budget to $20.00 per day. You can change these values as needed to meet you own specific requirements.
Watch audience size
Look for the Audience Size indicator which estimates the potential reach (target audience size) and the daily reach (estimated visits to your website). You want to keep the arrow indicator in the green area. You do not want your target audience to be too specific or too broad. Changing the budget amount directly affects the daily reach numbers. For this data set, the potential reach is over 8 million people.
We now have a starting point to try different scenarios. These scenarios narrow the target audience and daily reach using demographics. When I enter ‘CEO’ and select ‘Job Title’, the potential reach drops to 21 thousand people. I continue adding and removing Job Titles until I have a sizeable target audience that meets my requirements. Clicking on the ‘Suggestions’ link provides a variety of different yet related job titles.
Refine target audience
Next, I add Interest and Behaviour words to the detailed targeting list. Interests for this example could be Leadership and Leadership Development. Again, use the suggestions link to find related keywords.
When satisfied with the numbers, I save the campaign and produce a report for my clients. Most times, they agree to run the ad campaign. The beauty of using this approach over Pay Per Click ads is you can directly target those who already have an interest in your offer. Use Facebook market research to find your potential reach. With your potential audience defined, launch the ad campaign to drive even more people to your website.