How to reduce your spend with smart targeting

Understanding marketing spending and investment are critical distinctions savvy marketers use. Spending versus investing significantly impacts prioritizing channels, opportunities, and ideas.

Reducing your spending is an integral part of most businesses. Your biggest expense will often be lead generation. So how do you go about reducing your spending while not going backward? Make sure you are smart in targeting work. This means understanding that there is a method to the madness before you even start.

How Can I Reduce My Ad Spending With Smart Targeting?

There are a few strategies that you can use to target people who are more likely to convert:

Target Your Specific Audiences

The first thing you should do is target your specific audiences. If you’ve been using broad targeting strategies like “all ages” or “everyone,” you’ll want to be more specific. For example, if you sell a product geared towards children, you want to ensure that anyone likely to buy it sees your ads. You can increase engagement and decrease costs by being more specific with your demographics and interests.

Use Location Targeting

Location targeting allows advertisers to get even more specific with their audience by targeting people within a particular area or radius of their business. This can help save money on clicks since physically close people will likely be more interested in what you’re offering than those who live far away.

Bid On High(Er) Intent Keywords

Bid on keywords that show a higher intent to buy. This will help you get more conversions at a lower cost per click (CPC). For example, if you’re selling shoes and are looking for some new customers, you may consider bidding on “buy shoes” instead of “shoes.” The latter has more competition because it’s more generic, but the former has more people searching to purchase something.

CPCs for both of these keywords differ depending on how many people are bidding for them and how much competition there is for each. If one is cheaper, you should always choose the cheaper one.

Use All The Ad Extensions

Ad extensions like site links, callouts, and so on have been around for a while and have helped marketers increase their click-through rates on mobile devices. While these extensions are not directly related to keyword bidding, they allow you to provide more information concerning your products and services, which can help increase conversions even if someone doesn’t click through on your ad.

Use Auction Insights for your messaging

Auction Insights can help you understand your competitors’ bidding, how many people see their ads, and what bids they use. It’s an excellent way to learn about the auction and understand what it takes to rank well.

Have quality landing pages

The landing page is the page users end up on after clicking on an ad. Landing pages are important because they determine whether or not someone will convert into a customer. If your landing page is good, you’re saving money by paying for clicks that don’t result in conversions.

Conclusion

Just as you want to target your ideal customers most efficiently, it is also essential to ensure you spend your time effectively. Whether you are measuring product cost or the value of a customer historically, take some time to figure out how to get the best return for your dollar. If statistics aren’t in your favor, look for ways to improve that metric instead of throwing in the towel.

Social Media Marketing by Glen Huff

Hi, I'm Glen Huff!

Blogger, marketer, and coffee addict. I constantly have my head involved with the inner workings of the internet. I have a love-hate relationship with Social Media, SEO, PHP, and algorithms. With the industry constantly changing, it's hard to know what works.

This blog aims to take my 13 years of marketing experience and give you a clear path to success. My passion is helping business owners thrive online. I hope this blog becomes a valuable resource to you. May your funnels and social media campaigns shower you with leads.

It can be a difficult task to plan social media posts. What should you share with your followers? What will you post today, tomorrow, or the next?

I recently updated my article on this topic. It’s called: 121 Social Media Post Ideas – Never Get Writer’s Block Again! 

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