CXL INSTITUTE CUSTOMER ACQUISITION Mini degree Review- CREATING PROFITABLE AUDIENCE
Profit is a sensitive subject in business and most be approached strategically, hence How to create a profitable audience is a skill to consider.
The Point and Kill..
Back in the days as an exploring young man, I used to enjoy a specific sit out ( a local rendezvous that healed extravagant errors) where we go for what is called POINT and KILL.
Point and Kill is actually a buying process for immediate roasted fish. It is usually a warm sitting environment full of nice music and sets of comfortable sitting arrangement.
You simply work to the fireplace and you have an artificially built pond where live fishes were present and you simply point that which you would love to have and bargain for the price and it is roasted and served as you make payment.
Below is the kind of delicacy (profitable conversion) you enjoy from the point and Kill Moment (Analytical sifting of created audience to hit target profitable Audience).
Pulse of the Moment:
A boom has been declared by the emergence of the COVID19 pandemic for a paradigm shift in customer targeting, there is going to be a pool of audience out there online but it is critical to develop skills and Techniques of defining your ideal audience do that you can maximize your PPC campaign.
For short Business and customer interactions have taken a shift, quantitative and qualitative data with selling aptitude has become the game changers.
There is a need for creative and strategic ways to capture ATTENTION with a connection to make a buying decision.
Targeting is basically using the business technology of data analytical engineering with customer behavior to create meaningful and profitable audience. This remarkably designs the audience building approach, the campaign strategy and customer conversion model.
Four (4) simple sources of potential and profitable audience include
Just before campaigns are engaged, there is a picture of audience expected from the Avatar. The Responses become the source of profitable audience. four simple sources are..
1. Website Visitors
2. Apps users and engagement
3. YouTube users and engagement
4. Customer Match Campaigns
Review the Experience: Backtrack to Re-target and Recreate New Audiences.
Product and service are designed to serve experiential value to a targeted audience! There is a destination promise but not everyone arrives there. It is important to understand the customer journey and where they dropped off where they did if they did and didn’t get to the destination you promise or weren’t clear about the destination.
The voyage of business naturally is to create customer experiences that will without coercion birth business income.
From audience definition to targeting, so much is the work before the destination become a reality. You obviously can’t expect income from a barren conversion campaign.
Business and income obey marketing intelligence and analytic language. It is very important to inquire if your business’s audience funnels are speaking the language that will birth the actions that will hit your business objectives and goals. This is why sometimes using tech tools like the Google tag manager would be very strategic in picking the fonts of events that depict the writings of your target audience.
Creating intentional audience requires Intent Based Marketing and Re-targeting intelligence. Its combining Campaign Intentionality with Avatar Behavior!
Alas! The inability to identify the PERFECT or IDEAL customer can frustrate so many precious efforts driven into ads or production. This is why, audience specifics are vital. Intent based Marketing could really do some meaningful work on targeting and re-targeting to cash in on possible clientele cum customers, for your customer acquisition growth.
The ANALYTICAL TWIST: Maximizing Users and Visitors
Creating Profitable audience demands investigating and investing time to review Time lag Report, track and Leverage Cookie length to create meaningful Segmentation that will influence CTA (Call to Action) response an conversion growth.
Three (3) Basics to identify in Ads and campaign review to create Profitable Audience (PA)
- Spot the user intention
2. Analyze the user engagement commitment journey
3. Create intent based marketing audience from tracking review
Re-targeting is a further creative selling strategy from audience data, in the B2B cases especially eCommerce, we can learn more about the potential customer along their journey from the home page to check out. Google analytics and google tag manager does good in this dimension.
PROFITABLE AUDIENCE CONVERSION ELIGIBILITY
Irrespective of medium and type of campaign or Ads, targeted traffic wont all convert. There must be a systematic way and analytical clues to fish out optimum profitable realities.
The customer Avatar which is the Audience Specific personas in investing campaign cost becomes a point and kill pool where New and profitable audiences can be re-targeted based on their Conversion eligibility.
Conversion Eligibility is a term I coined from user engagement vs commitment potential, how close has the customer or user swamp close to kill? What softer sacrifice can a re-target ignite based on past sacrifice efforts of the customer
The Conversion Eligibility Review will enable a sieve of the Lead generation Funnel into Market Quality lead and Sales Qualified lead. The latter is a graduation of the former.
When a user has reached the cart and exit, he is more eligible for conversion than the user who dropped exit from home page. Their purchase sacrifice differs. Sales Qualified Lead is closer to conversion than a marketing qualified lead. Both remains eligible conversions with a separate messaging strategy! You have to create sense of improvement along their journey.
With Conversion Eligibility Review, we uncover AUDIENCE EXPANSION and EXCLUSION from existing Audience to determine Customer Acquisition Propensity (CAP).
Customer Acquisition propensity is the degree to which campaign strategy is influencing the Customer Acquisition metrics. Its an analytical sieve for Negative and positive Audience.
These answers the questions of which portion of the audience are likely to become converted and those will not.
Ten (10) Factors that can determine Conversion Possibility to Create Profitable Audience.
What questions could trigger CONVERSION POSSIBILITIES ?
within the bag or list captured by the campaign analysis tools are useful and less useful audience data especially within the 90 days ( In some cases 180 and others as much as 540 days) review list spectrum. In creating Profitable audience, conversion possibilities are analyzes for negative and positive audience to determine expansion and exclusion.
1. Desired Actions
2. Conversion Action definition
3. Minimum user engagement time to conversion decision.
4. Pages conversion and engagement prompts.
5. Purchase and Sales Cycles stages
6. Scale and size of purchases or sales
7. Target timing cycles
8. Target personal Accuracy
9.User interface experience
10. Back-end tracking tools.
In creating Profitable Audience, it is very crucial to consider Target appropriateness, audience building analytical tools and insights as well as design Re-targeting aptitude and intelligence to maximize captured reach and optimize campaign cost.
Here’s the summation
Know who you are offering is designed for (whose pain you want to heal and size), this is spotting the specific from the general audience. like casting your net on a portion of the expanse of an ocean.
Analyze your harvest, keep what you have got, Review the behavior of those left and Re-target those yet to be converted and can possibly be converted. Then you have maximized your campaign cost.
Thanks for reading.
Note: This is my first post over the twelve weeks i would be undergoing this course to share my learning per week. Watch out for subsequent posts.