“There is more similarity in the marketing challenge of selling a precious painting by Degas and a frosted mug of root beer than you ever thought possible.”
– Alfred Taubman
No matter the area, or even the product, companies rely on their Marketing and Advertising specialists in order to sell.
Even if creative ideas may be immensely diverse, the fact is that every Marketing and Advertising strategy begins at the same place and with the same principles.
But even if they do, it is not unusual to see many campaigns go wrong, ending up with large amounts of money put to inefficient use and in a weak return of investment.
Fortunately, there is a simple and fast way to avoid a failed Marketing and Advertising campaign and increase the chances of optimizing these efforts.
A successful campaign in two steps:
- If you know your Market, you are half way there
- Aim for your target and you’re there
In order to hit a bull’s eye, the first thing is to know exactly where the bull is. Hitting a wall should not be an option.
In other words, choosing carefully a specific market to tackle and the ways to tackle it is the first step towards a successful and cost-effective campaign.
However, even more important than just deciding on a market is to zero-in on the people you want to reach and to make the right use of “targeted media” channels to send the right message, at the right moment, in the right place, to the desired target group.
Making use of the value proposition to maximize the demand by optimizing the development of the product/service will increase the effectiveness of any Advertising and Marketing campaign and help achieve the precise demand generation, positioning and brand impact.
What are the Pro’s and Con’s in zeroing in on only the people you want to reach out to?
Precise targeting reduces the risk of making the wrong decision or investment, and it increases users’ response rate (being all potential customers), and the quality of the feedback.
On the other hand, this targeted campaign may end up missing an opportunity in a different group, or use case, that we did not even know existed, so it boils down to how mature the market is, and if we are confident in our knowledge of what our target market and value proposition is.
The Internet is creating fantastic opportunities for vastly improving the effectiveness and efficiency of targeting extremely specific demographics for all types of market research, usability testing, advertising research, competitive studies etc. So we no longer have an excuse to not hit our bull’s eye.