Firmographic Targeting: A Simple Definition & How to Get Started
What is a firmographic targeting?
Firmographic targeting is a way of qualifying companies as a suitable fit for your business. It’s a way of outlining what the ideal company client looks like for your business, based on the types of companies that offer a high lifetime value as a client along with other benefits like companies that work particularly well with your team, or whose names let you build brand authority.
Firmographic targeting is a type of audience targeting that allows you to reach your ideal B2B clients. It’s a powerful way to reach the people who matter most for your business — without wasting money on people who don't fit the bill. In this guide, we'll cover what firmographic targeting is and how it works. We'll also give examples of firmographics you can use in your campaigns, plus tips on how best to incorporate this type of targeting into your workflows.
What does firmographic targeting include?
Firmographic targeting is made up of a lot of different variables in just the same way that putting together a target audience would require you consider multiple factors like age, job title and location. Here’s a few of the factors that will need to be considered when building your firmographic targeting:
- Company Industry
- Company Size
- Location
- Company Revenue
- Company Type i.e Non-profit, Partnership or Private
What are the benefits of firmographic targeting?
There are lots of benefits to deciding on your firmographic targeting and letting that guide the way in your marketing and sales efforts. These include benefits like…
Better adverts
At the beginning of any creative process when designing an advertising campaign, the first question really is ‘who does this ad need to speak to?’ When you know that, every other creative choice follows suit and you can build on a strong foundation. When you know what companies are the best fit for your service, you can better understand what job roles within the team you need to speak to and the challenges that they might be facing.
Create better targeted content
As with designing adverts, firmographic targeting also puts you in the best position when writing content. At the research stage, you’ll be at a better starting point to look at potential keywords those in your specific audience are searching for. You’ll be able to think not just about what the right job title is, but also where that person works and the potential challenges that businesses in that specific stage usually face. With that information, you can create content that genuinely answers your target audiences questions and helps you to be discovered by the ideal B2B clients.
Get more for your budget
Firmographic targeting also means you can target your ads more effectively, based on things like the number of employees a company has or the location of their headquarters. By narrowing your audience down based on the data that has been collected to establish your ideal firmographic targeting, it’ll be easier to create ad campaigns with more return on investment.
Build a pool of dedicated use case
Part of your firmographic targeting research will be establishing who your service works for best. When you target those people and build up a strong client base of those within a certain company type, you are also building a dedicated set of use cases that makes it easier to sell to other companies within the same firmographic targeting set. Whilst a diverse set of clients can be really useful to help avoid relying too heavily on a certain industry for example, it’s good to build a great set of use cases along the way as you target a particular firmographic so that others can see how your brand helps companies like theirs.
We hope this post has helped you understand firmographic targeting and how it can be used to reach your target audience. Firmographic targeting is a great way to expand your reach and connect with new customers whilst streamlining your marketing efforts and really going after those clients most likely to convert and offer a higher lifetime value. For more blogs like this, make sure to check out the full Design Cloud blog.
