Any business that wants to be successful has to have a better product or offer a better value than their competitors – but that alone is never going to create success if no one knows about the service or the product.
Unfortunately most of the time, businesses try to cast a net as far and as wide as they can in hopes of getting as much business as they can. The issue with this, is that the net is thin and there isn’t much weight to it.
In operations management, the first thing you do is build a strategy and a plan you are going to execute, it is possible even more important in marketing to have a strategic plan though… You will spend more money and reap less of a return by casting a wide net, than focusing on key factors of your product or service and how they relate and benefit certain segments of the population better than others.
The great thing about data is that it usually doesn’t lie, you have probably heard may time that “numbers don’t lie” and they don’t… and when they are backed up by more numbers they are that much better. The amount of analytics that businesses have access to today through website traffic, social analytics, SEO grading tools, keyword generators and search tools and using the social networks as an instant focus group – no business should every just cast a net and hope for a return.
The graph to your right – is from Facebook insights – allows you to see not only your reach but how often you are touching each person with that ad or focus and what their reactions to it are – You can see that your message is hitting the demographic you are looking to hit –
You have to have a plan though to know if these are the right numbers for you. The client that is referenced above in these pictures has a younger demographic 64.7% between 18 and 34 and more predominantly male, than the client below – where 56.5 % are in that same age group and leans female.
Knowing this information though after the fact can also help guide your next marketing move and how you go about it. But save the money your first go round and have a marketing strategy on who you are going to target to begin with and save the headaches of the guessing game. Use the tools available to you and make the most of them.