What are audience segments? #
Audience Segments represent a targeted group of people. Lion share of a campaign’s performance depends on how well you isolate and group your audiences together. Good segmentation should strive to group audiences with similar buying behaviour, motivation, CLTV and acquisition cost.
How does Peasy create audience segments for your campaign? #
For example; suppose I am selling life insurance and there are 4 separate audience personas:
Fresh graduate who had just started his first job in a private multinational company.
Retiree, was previously a civil servant. Father of 3 adult children.
Housewife. Has a side business selling cosmetics online. Income is not fixed.
Working as a graphic freelancer for the past 5 years. Love extreme sports. Steady clients, no plans of starting a family.
Product Knowledge Level
Start investing in life insurance while it’s cost-effective, you will need it when you have a family later.
Leave a legacy for your children, ensure they are well taken off after your demise.
Due to uncertainty, you want income protection for you and your family.
The risk from extreme sports. Something to protect your parents in your demise.
Customer Lifetime Value (CLTV). The monetary value of their purchase if they choose to buy.
Bid competitiveness. How many other advertisers are competing for their attention.
Given this scenario, the ideal segmentation would be:
John & Mary
This description above represents a gross oversimplification of how Peasy creates segments, but generally the idea is to ensure audiences are grouped in such a manner that we can personalize our ad messaging, control cost to maximize returns.
What's in the Audience Segments table? #
- Delete Selection. To delete any audience segment, tick on the checkbox(s) and click the “Delete” (11) button.
- Audience Details. Click on the audience segment’s name to view or edit the segment’s details.
- Segment budget split. You can adjust each segment’s budget by changing the percentage value at 3a and 3b.
- Channel distribution. How each audience’s budget is distributed across Facebook, Google and Instagram.
- Estimated population. The maximum number of people within all selected channels that fulfill this segment targeting criteria, as set in (2). Campaigns will either fall short of target or even refuse to spend when the population size is far too small.
- Estimated CPX. The estimated bid/cost to acquire 1000 impressions, or a click/engagement/message reply/traffic/conversion or lead.
- Estimated Volume. Total segment’s budget (3a) divided by Estimated CPX (6). The number of impressions /clicks /engagement/ traffic/ replies/ lead/ conversion you can expect from this segment through-out the campaign duration.
- Summary. Click on “View Details” to inspect a summary of the segment’s targeting without opening the Audience Detail popup at (2).
- Recommend Audience. Only works for campaigns created using the Single Campaign method. Recommend Audience will recalculate the campaign’s predicted result and recommend new audience segments, AFTER you had change the campaign’s duration or budget.
- Delete. To delete any audience segment, tick on the checkbox(s) and click the “Delete” button. Peasy will automatically redistribute the campaign’s budget amongst the remaining segments.
- Update. Click on the “Update” button to save changes made on (3), (4a) or (4b).
- Add. Click “Add” to create a new audience segment. You’ll need to manually edit the segment’s targeting details, budget and channel distribution.
What's Audience Overlap? #
An audience overlap is when you have high similarities between two audience segments. For example; audience segment A has Swimming and Cycling as interest. Audience segment B has Fishing Rods and Mountain Bikes as interest. Because Mountain Bikes can be a subset of Cycling, this would mean that there are similarities between Audience segment A and B. This is audience overlap, overlap should be avoided as this will cause internal competition within the campaign, resulting in bloated cost, poor performance and artificial competition.
Should I add, edit or delete audience segments? #
We do not recommend that you make any changes to the audience targeting. The targeting recommended by our AI is based on careful deliberation, research and analysis. Your campaign’s prediction will no longer be accurate after you had amend the change.
Having said that, you can minimize the risk of change if:
- The segment’s population increased after changes
- Your changes are limited to demographic details (age, gender, language)
How to delete an audience? #
To delete a generated or created audience segment, click on the Checkbox located to the left of the specific segment, select the segment or multiple segments and click “Delete”.
How to add a new audience segment? #
Click on the “Add” button, a pop up will appear and you’ll have to configure the audience segment manually. Once done, click on “Add Audience” and this will close the pop up and the audience segment will be created.
What should I do after I have changed my campaign duration and budget? #
This is highly dependent on your specific needs out of the campaign. But it is by our recommendation to check back on the AI recommendations in order to get the best performance out of your campaign. With increased budget and duration, Peasy may have new audience recommendations. Simple click the “Recommend Audience” button and have the AI recommend new audiences.
I have changed my segment's budget split or channel mix, but the changes are gone when I edit the campaign. #
Please be sure that whenever you make changes in regards to budget splits or channel mix, you will need to click on the “Update” button. Failing to do so will have Peasy invoke the last saved state of the audience segment configuration and changes made will be lost the next time you go to edit the campaign.