Regardless of what type of business you own, regardless of the industry that regulates it, and regardless of where it operates — locally, regionally, or internationally — your business is in the marketing business. Without a successful marketing and sales division, your company will not stay in business, even if it has an incomparable product line.
One fundamental marketing question that will make all the difference to increasing your bottom line if you answer it correctly is where your company should spend its advertising dollar to reach its target customers–for example, beer commercials do well during the Superbowl, perfume samples are popular in Vogue Magazine, and tool companies sell more on the DIY Channel.
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The Untapped Power of List Brokerage
While there are many ways to find and reach your customers, one method that has proven the test of time is the use of a list brokerage service. However, not all brokers are the same. Some like Red Crane Media will go above and beyond providing list brokerage services by working closely to understand your goals so that their solutions make perfect sense for your brand.
Unfortunately, despite the efficacy of list brokerage as a channel to connect with your target audience, many companies cling to traditional channels that fail to deliver.
The reason traditional channels fail to work despite a long history of success is that they have become over-saturated. While an advertiser might invest the same amount and put in the same efforts as those who were previously successful with the channel, they will not get the same results.
Once a channel gets over-saturated, the same budget and creative efforts only bring about diminishing returns on investment. It becomes harder to reach your audience, engage with them in a meaningful way, and get desired results.
If advertising has changed over the years, it only makes sense to change your approach. One way to reach your target market is through channels like direct or dedicated mail. Inserts, like package inserts, have also proven to be effective.
However, before curating a customized list and choosing the right media to send your marketing message, it’s important to have a clear idea of who your customers are.
It All Starts With Knowing Your Customer
Unless you know who your customers are and what goods and services they want from a business like yours even an effective advertising strategy like using a list brokerage will not produce the results you desire.
The best way to know your customer better is to research demographic and lifestyle information.
Demographic Information
You won’t get to first base in understanding your target audience if you don’t collect demographic information.
Demographic information will inform you about the following things about your customers:
- It will tell you about their average range of income.
- It will tell you about their level of education.
- It will tell you about their typical choice of occupations.
- It will tell you about their geographic location.
- It will tell you about their family structure and socioeconomic grouping.
Demographic information will make a huge difference when it comes to understanding your customers.
Lifestyle Information
Lifestyle information is necessary because demographic information alone won’t give you enough information about your customer’s wants, needs, desires, and interests.
If you want to change your product or service to match their needs, then you also need to get some lifestyle information.
Lifestyle information will also help you get a better idea of the type of promotions that will engage them and the best advertising media to reach them.
Lifestyle information will inform you about the following things about your customers:
- It will tell you about their average range of income.
- It will tell you about their hobbies.
- It will tell you about their interests.
- It will tell you about their recreational pursuits.
- It will tell you about their entertainment activities.
- It will tell you about their political persuasion.
- It will tell you about their religious proclivity.
- It will tell you about their cultural practices.
Allocating Your Marketing Dollars
One of the best ways to invest your advertising money is to use fresh advertising channels and get researched insights about your target audience.