The objective of every business is to increase their revenue base and maximize market share. Targeting your competitors’ customers to convert them to your brand is a natural focus of activity, and a great way to grow your business directly at their expense. As you prepare for the task of marketing your business to a selective audience of prospects, one of the most efficient strategies is to take advantage of the targeting tools offered on Facebook, Instagram, Twitter & YouTube.
Facebook and Instagram make it quite easy to reach your competitors’ followers as their ad settings facilitate the targeting of these consumers who ‘Like’ the pages that have been posted by your competition. This allows you to easily identify your common targeted demographic as those consumers already follow your competition. Once they then initiate a following for your company, you can engage them with your message.
Twitter has a similar approach to Facebook and Instagram. Twitter ads allows advertisers to reach followers of specific Twitter accounts. By targeting those accounts, only their specific users have visibility of your ads.
Some might suggest that YouTube isn’t really a social media platform, but being that it is the second largest search engine behind Google, I would disagree. It’s called social media for a reason! If you can engage people and ‘Like’, share and comment on content…it’s social! If your company has video content, you can effectively leverage it by using placement targeting directly on your competitors’ YouTube channel to promote your videos. If ads are permitted on that channel, yours should appear as a promoted video or ad to all who would be exposed. How sweet!
Cost effectively reaching the audience members from within your targeted market with the intent of conversion to your product or service is a core objective of every business. Capitalizing upon the work they’ve already done in building their communities is a highly effective strategy, and just makes sense. By leveraging the paid targeting tools offered by the various social media platforms you can do just that!
If you haven’t yet directly targeted the audience that has engaged with your competitors, you really may want to give it a try!