The Power of Knowing Your Market

Hello, and welcome back to Media in the Moment. I’m your host, Chuck Fetterly, and today we’re diving into one of the foundational elements of marketing and making smart investments in paid media, and that’s knowing your market. Let’s get started. 

You know, when it comes to advertising and specifically paid media, There’s a common temptation to jumpstart right into tactics, right?

How many times has a client approached us and they come to us and exactly know the tactical side of what they want to do? But some other questions remain unanswered. They want to jump into picking media channels or platforms. We get into allocating budgets quickly and even crafting messages. Yet, most successful campaigns don’t start with how or what.

Instead, they begin with a more clear understanding of who.  Now this does assume we’ve already answered the why, I’m sure many of you have read Simon Sinek’s book where he says start with why. So, you know, why do we need this media campaign? Well, perhaps it’s because we need more conversions or bigger awareness, more views, streams, followers, acquisitions, sales.

So we’ve answered the why, now let’s move on to who.  Who do we need to reach right knowing your target audience and I mean really knowing them is a cornerstone to any effective media strategy. 

Now at my media agency. We believe it’s more than just simple demographics. It’s about connecting with real people and understanding how, why, and when they consume media, and what drives their decisions. 

Now, there are several tools available to learn more about your customers and intended audiences. We could spend, literally, a few hours on this subject. But for the sake of time, and after this podcast episode, go ahead and use any AI tool and prompt it to give you a comprehensive list. And it will.

Now the goal is to be confident you’re speaking to the right people in the right place with the right message and at the right time. Spending time and resources on this and knowing your market can achieve several things. And I’ve got four of them for you. 

The first benefit is you will have more tailored messaging that resonates with your audience. Now, this sounds really simple, but crafting the right message isn’t about guessing. It’s about what will connect with them. Just like any relationship, understanding what matters to them, their pain points, desires, interests.

This all allows you to craft messaging that doesn’t just get noticed, but gets remembered. And whether it’s a 15-second video or a long-form content piece, relevance to the intended audience is key. 

Now the second benefit is being able to choose the right media mix and platforms. Now not all media channels are created equally. And knowing your target audience means understanding where they spend time. And which platforms they might trust and how they prefer to engage with brands. 

You will know if it’s wiser to choose LinkedIn, TikTok, or a streaming service, or all of them. Now, should you lean into paid search, or display ads, or connected TV? The answers come from a thorough analysis of your market.

Keep in mind that each media channel you choose has its own strengths when it comes to reaching specific segments of your audience or attracting new customers. This is something you can really leverage to your advantage. 

Now related to the last benefit is focused ad spend.  Knowing your market matters because you’ll have more focused advertising. Investment into ads without any audience insights is like throwing darts in the dark. 

We spend so much time with our clients at the very beginning, trying to understand and learn about their target audience profile and other characteristics they can tell us. And knowing the market allows us to target your spend strategically, ensuring your budget goes towards engaging the people you are most likely to convert. It’s really about efficiency and impact, two things that every business cares about. 

Now lastly, timing. Timing is everything. A deep understanding of your audience includes knowing the right time to reach them, right? Whether it’s daily routines, seasonal trends, or industry-specific patterns, timing can make or break a campaign.

We will often make, data-driven decisions to ensure your ads will reach an audience when they’re most receptive. Maybe that’s an ad before dinner or before breakfast, or a TV ad in the evening when you’re not distracted. Maybe it’s shortly after a prospect or customer has visited your store or attended an event.

When you really consider timing, you can drive higher engagement. Deliver more impactful impressions and maximize the overall efficiency of the campaign. So, knowing your market and your target audience is pretty important. It always has been, but in today’s media landscape, that knowledge will lead you to even more strategic decisions and better outcomes.

Now, at my agency, TEC Direct Media, we guide you through those complexities of modern media buying. And it’s our goal to be a partner to make those decisions backed by good old research, data, and experience.  And let’s face it, when your investments lead to successful, measurable results, we all win.

This is Chuck Fetterly. I hope you’ve enjoyed this episode. You’ve been listening to Media in the Moment.