To be successful in achieving your company goals, identifying the proper audiences are critical for an effective ROI. The magic algorithms of social media, targeted and search engine marketing have helped businesses better harness their customer’s souls and life essence – their likes, dislikes, where they travel, shop, eat, music, concerts, sports, etc. The list is literally endless – and as marketers, we are grateful for it.
I would encourage any marketing strategy to focus heavily on the front-end of identifying the best audience for your tactic. In years’ past, the goal was to reach as many people as possible – even if those individuals had no desire or interest in your product. That is wasted money. We simply can’t convince a customer who hates onions to buy onion seeds.
Instead, narrow that audience and FOCUS on true returns. The genius of today’s technology is that so many categories and algorithms have been enhanced to more accurately allow you to reach a customer who might actually want your product.
Simply put, would you rather reach 1,000,000 people with a wide-net approach with only 2% responding (20,000 people) or focus on 200,000 individuals whose interests are more apt to specifically match your product with a 20% response (40,000 people)? In the end, it’s truly about the ROI.
To see if your marketing tactics can be more laser-focus and narrowed for better results, feel free to reach out to Matt at firstname.lastname@example.org.