Emphasising on maximum returns and balancing marketing reach
In every crusade, we look for a balance between reach and relevance that is just appropriate and will result in a better return on investment. Targeting and segmentation are the mantras to striking the right opportunity and the right audience with valuable messages. But if we narrow the horizon, we might lose out on potential consumers whom we can bank on.
Many times, we are more oriented towards the marketing reach, and in the process, we tend to ignore the relevance of balance that has to be maintained. We all feel that the more we showcase our product to the public the more it will gain popularity. Needlessly to say it is logical but in truth, the company is spending millions of dollars to market its product to the vast public who may or may not ever have relevance to the product. Targeting, segmentation, and positioning are the critical parameters for a successful marketing strategy.
Too much relevance, not enough reach: Targeting a small audience or a niche market through direct marketing in all respect is practical as well as productive. It helps to keep the budget on the check. However, if there is no niche market, and the company is solely focused on a small targeted audience it will result in minimum returns, losing out on potential customers outside the segment.
Reaching out to the maximum number of potential customers with the relevant products is what helps to strike a balance. With the precise targeting and segmentation, every plan comes down to how well it is planned, executed, tested and reviewed.