When doing market research to find prospective clients, one of the first questions you need to ask yourself is, “where are they?” Geographic location can be one of the most powerful tools that businesses can rely on to find their target audience.
Data on geo-targeted advertising shows a major performance increase for companies, within the most valued metrics, because they used their geographic location to target their audience.
So, rather than shooting in the dark, it’s time to gather what information you have, and find clients within your geographic market.
What Is Geo-Targeting?
Geo-targeting starts at the location level. You first need to identify the country, state, or city where your target audience lives and works. From there, you can get more granular, with research into the climate and population of the specific region.
You can use geo-targeting to find your current geographic location, as well as locations that show potential for your business.
Once you have this information, you might start to get some ideas of who your target audience is. But how do you gather the data to find them?
Use the Data You Have
The first step is to use what you have. Look at your current clients or customers. Assemble data based on the points mentioned above. Figure out any trends within this group and make note of them.
Along with current customers, it’s important to look at leads. Find those who have expressed interest in your service or product. What do they have in common, and do they overlap with your current clients?
Don’t forget to analyze your aged leads. These leads are a bit older, and may have fallen off at some point in the process. However, they are often more cost effective to tap into, and can uncover more targeting opportunities.
They may look different than current leads, but they often represent an untapped audience that’s ready to act.
Take a Deeper Look
A powerful tool in prospecting geographic clients is location data. Research shows that utilizing location data can result in a 73% increase in purchase intent.
Smartphone users must approve the use of their location data. With this data in hand, businesses can identify where their target audience is located, shopping, socializing etc.
Paired with other demographics, this can help you narrow your target audience and plan your next moves.
Another way to access prospect and customer data is to reach out to advertising agencies. Many of these agencies do regular market research. Additionally, they may provide audits for businesses using their data analytics.
Using these consultative services allows you to learn more about your target audience, and can provide a starting place for your marketing initiatives.
Find Prospects Based on Data
Now that you’ve researched your current audience, it’s time to start prospecting.
Tap into a community of over one billion people through Facebook ads. Placing ads on Facebook can unlock a multitude of audience insights. Every kind of demographic is available, as well as tools to create audiences that look like your current clients.
With more insight into your audience, consider buying leads that are based on consumer data. Simply specify your target audience, and gain a deeper understanding of who they are and where they’re headed.
Consumer data services can give you the whole picture, and provide you with an understanding of your customer’s interests, geographic location, demographics etc. This knowledge can affect more than just your marketing efforts, it can be used to shape your entire business.
If you find that your customer is looking for additional products or services, you can have a head start on implementing those to meet their needs.
Customer data can be directly applied to lead generation to streamline the process. Rather than casting a large net, purchase leads that are within your target audience.
Construct a Message for Prospective Clients
It’s time to act on your knowledge with a message for your prospective clients. If you’ve found multiple locations associated with your target audience, you may need to tailor your message to each location.
Location data cannot stand alone when it comes to marketing. Make sure you are combining these insights with other demographics to hone your audience more effectively.
Once you’ve done that, it’s all about testing. Figure out which message works best for each geographic market. Creatively analyze the data to generate new ideas that you haven’t tried. Look at the things you didn’t know before.
You may have found a new location that your product or service can reach. Now you have to come up with a way to speak to those people directly, rather than everyone as a group. The more personalized the message, the higher likelihood it will lead to action.
Remember that it’s not just about finding where your audience is located, you also must identify locations outside your geographic market. Excluding these people will save on cost and resources within your marketing efforts.
Get Started Today
With an in-depth understanding of your geographic location, you’re able to better communicate with your current clients, as well as reach prospective clients with accuracy.
Refer back to this guide as you go through the process of growing your business through geographic market research. Now that you know the steps to find your audience, it’s the time to act.
To learn more about how to grow your business visit our blog, and contact us today for services to help you increase ROI, and learn more about your geographic market through consumer data and lead generation.