In the vast and ever-expanding realm of marketing, businesses are constantly developing new techniques and putting them to the test in hopes of staying ahead of the competition and improving visibility, marketability, brand building, and lead generation and conversion.
That being said, there’s definitely still a place for tried-and-true, traditional marketing strategies. Many have withstood the test of time and proven themselves malleable and able to be applied to marketing campaigns across countless industries and business sectors. One great example of this is the 40/40/20 rule.
The 40/40/20 rule isnâ’t so much a rule as it is a formula for crafting the perfect marketing message with each and every campaign. The rule comprises three factors, each serving as a stepping stone to marketing success. Here’s what your businesses needs to know about the 40/40/20 rule.
40%: Audience
It isn’t always easy to hone in on your business’s specific audience, but it’s the first step in crafting the perfect advertisement, regardless of medium. Ideally, you’ll already have at least a basic compilation of potential clients to advertise to, but if not, you’ll have to dig a bit deeper. Experts recommend putting yourself in the mind of a consumer and thinking about what your potential clients all have in common, commonly referred to as a profile.
Once you’ve determined a profile, you can put together (or often purchase) a list of new prospects that fit that profile. This enables you to craft a message that’s designed specifically for that audience, which can help maximize the success of your campaign, writes Jack LaRue on AccountingWEB.
40%: Offer
There’s no denying that a major determining factor of a consumer’s likelihood of responding to or making a purchase because of an ad boils down to the offer itself. Your offer needs to compel your audience to take action. Essentially, it needs to feel worth it. A generic piece of advertising that’s not offering anything except a long-winded self-promotional message will most likely get tossed in the trash at first glance. That’s why it’s essential to tailor your offer to your audience while making sure your businesses has the resources to follow through.
Furthermore, don’t assume that the offer needs to be financially-related. If you’re concerned about giving discounts, consider offering something else that convinces customers to take the next step: a free consultation, access to informational materials, or anything that can help them solve a certain problem.
20%: Creativity
Finally, it’s time to put your creativity to the test by making the ad as appealing as possible through unique visuals and content. Use what you’ve learned from collecting audience profiles to determine what type of ad your potential customers want to see. This is why the creative portion of your ad strategy should be the last step in the 40/40/20 process; if the building blocks aren’t there, you’ll be left in the dark and have to take a wild guess as to what your audience is after.
Ultimately, understanding the 40/40/20 rule is all you need to do in order to start crafting relatable and actionable advertisements that will capture your audience and have maximum potential to convert your leads into long-term customers.
Sources:
https://www.accountingweb.com/practice/practice-excellence/the-404020-marketing-rule
https://www.strategicmarketingguy.com/the-404020-rule-of-marketing/