Assess & Review
Did you know, each year $37 billion is wasted in ads that fail to engage their target audience? Knowing who it is that is interested in your product or service is a crucial element in designing your Instagram ads campaign strategy. This will ensure that the money you do spend on your Instagram Ads is being used effectively and your ads are shown at the right time, the right place, and to the right people. Segmentation strategies help marketers understand their specific customer segments and leverage their findings. In the long run, understanding what unique segments to target will help your business address specific customer needs and assume a differentiated position in the marketplace.
There are several methods that you can use to segment consumer markets. Demographic segmentation categorizes customers based on factors such as age, sex, socio-economic class, income, family size, occupation, and ethnicity. You can also segment geographically, which provides an insight into where your target customers are located.
Other methods of segmentation include Psychographic segmentation which sorts customers based on psychological traits, such as lifestyle, or Behavioural segmentation, which categorizes customers by the behaviors they exhibit, such as purchasing behavior. Alternatively, organizations operating in the B2B field may benefit from Firmographic segmentation, which categorizes prospect organizations by attributes such as industry, firm size, and ownership.
Brand positioning refers to the activity of defining where each brand sits in the mind of the consumer across multiple dimensions of value. Brand positioning should begin with a positioning statement, which is a clear description of your product or service and how it fills a particular need in your target market. A key part of the brand positioning process requires you to observe the crucial features of your product to determine points-of-difference (PODs) – the attributes that customer’s strongly associate with your brand that they cannot find to the same extent with a competitive brand. Performing a Competitor Analysis, the process of evaluating your major competitors and their offerings will help identify the gaps in your target market and determine how the product or service differs from your competitors’.
Content creation for your Instagram ads campaign
Once you have a good command of who your target audience is and how you can meet their needs, you can start strategizing how to create content for your Instagram ads campaign. Prior research will help ensure the content you do create for this is relevant and engaging for your target customers.
Remember, Instagram is a visual medium. Ensuring your brand is consistent in its style and aesthetics will help you build a unique personality and brand identity. For instance, you may choose to pick a particular photo filter or color palette that best reflects the personality of your brand to develop and sustain a cohesive content style. Don’t forget that Instagram is a mobile-first platform, so the content needs to be optimized for this.
Retarget customers that engage with your brand
Once customers interact with your brand, you can then continue to develop & sustain this relationship through a process of retargeting. These are the people who have engaged with your previous posts or ads, sent you a direct message, or liked one of your posts. Successful retargeting ads could include providing information about a new product or show them more ways to use previous ones. Retargeting is a great way to ensure a better ROI as you already know these customers resonate with your brand. Considering you already have information about these users, using personalized ads is a simple & effective way to ensure engagement. A recent study found that 72% of users only engage with marketing messages that are personalized and tailored to their interest, hence why it is so important.
Another great technique to save money on your ads campaign is through location marketing. One example of this is Geofencing, which targets a geographic radius placed around a location of interest. For instance, if a mobile device enters this area, the geofence is triggered to direct advertisements via the social media platform the ad is placed on. Geofencing is constantly developing and there are some scalability issues as it is so highly targeted. However, with relevant ads, this tactic will ensure that your content is placed in front of people more likely to engage with it, increasing your ROI.
Tracking and testing
As with any marketing campaign, tracking the success of your Instagram ads is incredibly important. This is a step that is missed by brands time and time again but analyzing what has worked, and what hasn't, will set you up for success in the long run and save you time and money. You can find this information in the promotions area of your Instagram page, which provides information about your impressions, reach, likes, comments, and saves. Your promotion page also displays engagement information, for instance, how a paid advertisement has performed compared to a typical Instagram post.
Instagram use is increasing and so is engagement on it for brands. In fact, 2 in 3 people say the platform helps foster interactions with brands. That’s a huge market to not be tapping into. With some prior research and analysis into your Instagram Insights, there’s nothing to stop you from creating a lucrative and refreshing Instagram Ads campaign and doing so on a budget.
Do you need help with your Instagram Ads Campaign? Should you have any questions or require any advice on your marketing strategy, get in contact with our team today.