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Recently I launched a new website with a limited budget allocated for advertising, here’s how I maximized that spend!
Having a large spend is great but the smaller the budget the smarter you have to be when you allocate your spend.
And my main goal of this campaign was to gain subscribers that we hope will turn into customers at a later time. Branding is great but it will use all your money and there’s no guarantee you’ll have anything to show for it.
One of the things I learned from my marketing time in college (which was a long time ago now but still very relevant ) was Magic Circles Segmentation.
To achieve the maximum impact with the resources that were within my reach, it’s not a bad idea to use the Magic Circles Segmentation technique
What are magic circles segmentation I hear you ask?
It is about finding your perfect audience through overlapping interests.
One of the most important decisions that a company makes is what market coverage strategy to use for a brand.
In analysing any one product, the first thing to consider is the market.
In a sense, the focus market rules out products that are not substitutes. For example, a marketing analysis for Gatorade (which has about a 90% market share) should not exclude water since that is a substitute for a sports drink and a possible source of new sales.
Otherwise the analysis would be stuck with a market definition of sports drinks and thus virtually no practical way of increasing sales.
Unfortunately for most of us our websites, are “non-existent” at the level of reputation and brand recognition when you compar to the size of the online market place.
Luckily this isn’t unshakable status!
The most important things as I defined as the goals:
- Segmentation and campaign goals
- Generate interactions (positive points of contact)
- Traffic generation and registration
- Retargeting (remarketing)
I wanted to grab peoples attention who were looking to solve the same problem or pain point. Most companies problem online, is first traffic, then subscribers and then sales.
- Promote the product through social type ads (eg with Facebook Ads) because it is often cheaper for products not yet as well known platforms.
- Perform different ad types according to the sales phase. You should go slowly. Without emotion there is no conversion.
- Hypersegment your audience to reach an audience interested only and not waste budget on those who are not so closely related to your offer.
To target these people we used images and emotional messages. The purpose of the campaign is to get new subscribers.
One of the most important things for any campaign is to define campaign goals before you start.
If your using Facebook Ads, know when to advertise, if your advertising to business’s, don’t set your ads to the week end or after the close of business. If a manager at a business is seeking a solution for their business their going to do it during business hours.tent. We look at the publish times and when they were shared.
Another side effect is a “Like” to the page, but this is not so relevant at this stage. Not everything is measurable. Sometimes we can even settle for a level of visibility, because most people are passive and do not generate any interaction.
I’ve made a lot campaigns so I have a certain about of experience of what works where and when, but the advertising market is very dynamic and ever changing so you have to keep evaluating what works and at times try something new.
I look then at the interaction, anything from €0.01 to €0.10 is totally acceptable. I will usually use an an image, along with a #hashtag, this hashtag will be cross branded on Twitter and Instagram and bonus points if you have Youtube.
Once interest is shown the next thing is to get people to your website, so a leading statement in the ad that create’s curiosity will make them come to your website is the best.
If you have a blog post, you can boost that post on Facebook for as little as €5 with the hope of people getting back to your website and from there once you have everything in place you can entice people to signup to your website.
If I can get 2-3 people out of 50 back to the website from a Facebook ad I think that’s acceptable.
The way information is available in the internet today, just because you wrote a good or even brilliant blog post, it’s not going to be enough.
I like to add 2/3 surprises in the in the blog post, something people will not see everywhere else. A reminder of when a new product is launching works well as long as you give them a solid reason to sign up.
Once you have people coming to your website, now would be the time to start segmenting the new contacts, there’s nothing wrong with having 3 different calls to actions on your blog page, you can encourage people to sign up to all 3, but make sure you segment them by your email provider for future re-targeting.
This is a process you can build over time, spend €5-€10 a day at the right times, and start collecting email addressee’s slowly, if you have a bigger budget great. If you planned this over 3 months your going to have a lot of information of what works, and you need to know that before you pull out the heavy armor like Google re-marketing and targeting your email list.
If you look at the diagram you can see all the different paths and decisions you have to make.
Once you have enough signups, I’d recommend at least 1,000, now you can start targeting your select audience, you have at least a 75% chance of a making a sale to a warm audience than you have to a cold audience. And from a small budget but worked correctly you can generate a lot of sales. Instead of going head first into an advertising campaign.
If you do that your going to get frustrated and disillusioned from the advertising experience
I’ve tried this type of launch a dozen times and it has a dramatic improvement on ad spend and quality of leads. Of course there is a lot more to take into account, and the scope of this article won’t go into it but, a small bit of planning can have a huge positive effect on the return of your investment. Which definitely helps if you have a limited budget!