For most companies, there is a set of a
For some, this could be a mix of demographics and psychographics (I want to reach women aged 20-34 interested in yoga). For others, it could be firmographic (I want to reach owners of retail businesses with 1-10 employees) or spatial (I want to reach consumers who shop at the Target on Main Street).
But what if your ideal buyer persona doesn’t fit into any one clear mold?
In the company’s home state of Florida, customer targeting had never been a big problem. They had grown organically, one conversation at a time until their clients started
Starting in New England, TGAFE embarked on an ambitious plan: To tour North America with a series of conferences designed to connect local potential franchisees with the resources needed to make their dreams a reality.
As the company entered unchartered territories, exhibiting in a new city every few weeks, they knew their referrals would only take them so far. To really make this road tour a success, they would have to build some serious buzz with a local marketing campaign in each of the major cities on their route through Mexico, Canada, and the United States
Without any obvious distinctions that separated a future franchisee from the rest of the population, TGAFE relied largely on mass marketing. They invested in billboards and street teams. They tried online advertising, but without any obvious filters, they targeted everyone within a 100-mile radius, knowing that a serious franchisee would happily drive a couple hours to make her dream happen.
The campaigns performed moderately well, but the leads they delivered were expensive. They were paying to reach millions of people, but only a small fraction (0.23%) were entertaining the idea of buying a franchise. Additionally, while Google performed moderately well thanks to a smart keyword strategy, the company was almost at the point of giving up on Facebook and display advertising altogether.
Knowing that there had to be more local franchisees than what they were bringing into each event, they approached Spatially looking for a more targeted, cost-effective solution.
Before designing a single ad, Spatially worked with TGAFE to understand its customers, objectives, and hurdles. It was in these meetings that Spatially got the first insights into what a potential franchisee looks like: They often worked in finance, had 20+ years of experience, had saved up a small fortune, and were looking for a job that would allow them to become their own bosses. Spatially then went back to the drawing board. Its team of marketers and data scientists took the insights provided by TGAFE and did its own research into what the average franchisee looks like: The degrees they hold, the household income they earn, the neighborhoods they live in, and the lifestyles they lead
The result? The Great American Franchise Expo was able to focus its limited budget on those most likely to be interested in its events, rather than bidding on the entire metropolitan area—primarily consisting of those with neither the means