Is Targeting Small Business Owners Wasted Ad Spend?
Looking to target small business owners? You might be shocked at the waste in your advertising spend. Small business owners make up about 10% of the US population and are an attractive audience for goods and services to help their businesses thrive. You would think a segment that large would be easy to target accurately online.
BUT - in our work, scoring data and measuring audiences, we see a lot of inaccurate data, and this type of segment is no different. The average accuracy for a small business owner segment was 17%, with some segments as low as 12% accurate.
For every dollar spent on these segments, an average of 83 cents is wasted.
So how do you avoid spending money on those records that aren’t in your target market? It’s simple! The easiest way to improve your targeting is to use Truthset Scored segments, available wherever you buy 3rd party segments, like LiveRamp Data Marketplace, Adobe’s AAM, Lotame, The Trade Desk, Xandr, AdSquare, Salesforce/Krux, etc.
Truthset Scored segments only include the records that meet a threshold for accuracy, meaning we’ve removed the IDs least likely to be the purported attribute of the segment, in this example IDs of small business owners. This leaves only the more validated IDs for advertisers to run their impressions against.
If you have any questions about how you can improve the ROI of your marketing with independently validated audience segments, contact us.