Nowadays, social media is a must for small businesses. Through social media, small businesses now have more power than ever to market themselves to potentially millions of people on the Internet, and the ability to fine tune their online marketing efforts to bring in more customers.
The social media giant Facebook has made available a whole array of tools for small businesses to market their products and services like never before.
One of these tools includes Facebook Audience Insights, which lets entrepreneurs know more about their audience’s habits, as well as where they are from and what kind of lifestyle they lead. Related:GroupBuy SEO Tools
Facebook Audience Insights is a powerful tool, but you have to make sense of it first. Those who look at all the data and options it provides may be overwhelmed at first, but it is not as incomprehensible as it may first seem.
You just have to know what you are looking at in order to make sense of the data.
To access Facebook Audience Insights, log in to your Facebook account and click on “Ads” in the lower left corner. This will bring you to the Ads Manager page, and if you click on the menu, you will see “Audience Insights” under “Plan” in the drop-down menu. If you are accessing it as a Business Manager, you need to go to “Tools” instead.
When you click on Audience Insights, it will walk you through the process. The first step is choosing an audience. If this is your first time using the tool, it will make life very easy for you. You can also choose to skip the wizard and enter your preferences manually.
It is definitely a good idea to know who your audience is so you can determine what they need from your business with a directed focus in your marketing efforts. As a small business, you need to have a more specific audience, according to your niche, so that you can more easily convert site visitors into actual customers.
Now you might think that more is better when it comes to spreading the word. That may be true if you have oodles of money to throw for your ad campaign or you don’t especially care about ROI. However, if neither of those things is true for you, customizing your target market is more practical.
Put more simply, when you have a more targeted audience, you reduce your risks and increase your chances of conversion because you are more efficiently reaching the people who will actually buy your products or services.
There are different processes you can undertake to better understand who your target audience is. It is recommended that you have a minimum audience size of 10,000 people, but any number slightly under it shouldn’t be too bad as long as you know you can get a fairly reliable answer. However, if you want to do something like A/B testing, then you may need a larger sample size.
It all depends on a particular demographic to determine who is most likely to be interested in purchasing your products. The targeting options provided in the side bar include:
- Location – You can specify a particular location for your analysis, which could be anything from a country to a zip code; you can also choose to exclude a location.
- Demographics – This istypically age and gender, but the tool also allows you to specify relationship status, occupation and education.
- Interests – You canchoose to narrow the audience set based on the Facebook pages liked, hobbies and interests.
- Behaviors – This option lets you collect information on people based on their activities on Facebook as well as off it, including buying behavior, travel preferences and device usage.
- Advanced – You can narrow your audience to existing customers based on information you have already collected, as well as “Lookalike” audiences, which are people who share similar characteristics with your existing customers.
You may want to pay special attention to two of these targeting options, namely interest-based and behavior targeting:
Interest-Based Targeting lets you focus on a particular subject related to your product to draw people in. It could be a specific aspect of your niche or a particular brand or product that has unique characteristics that resonate with your audience. You can then hone in on whatever brand or model of a certain type of product they are interested in.
On the other hand, Behavior Targeting is more about targeting people based on purchase history, intent based on their actions, and so on. This allows you to learn more about the particular psychology of your target audience so you can better cater to their needs and seek them out in their preferred channels.
For instance, you can target people who have made payments using a certain platform in the last month or so, as they would be more likely to buy from a shop you’ve establish on that platform.
Whichever method you use to better understand what kind of audience your business attracts, you must choose what to focus on. To do that, you need to take a closer and more educated look at the data.
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Explore the Data to Segment Your Audience
Once you have an audience engaging with your brand for about a week, Facebook Audience Insights should give you enough data to let you segment your audience. The data are given in the following categories:
Demographics
Under this tab, you will see collated information such as the user’s age, gender, education, job title and relationship status. If your audience is in the U.S., you will also see their lifestyle.
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