"The more people know about us, the more people will buy from us.. right?" Why do I hear that so often when it is as far from right as you can get.
If you are thinking the statement is right, have a think about your own buying behaviour. Do you buy from every company you get a marketing message from, or just the ones that are relevant to you? Even if you see a brand every day, does that mean you're going to buy from them?
There are nearly 65 million people in this country (47 million if you discount the children) and you will only ever sell any one of your products/services to a tiny percentage of those people.
Mars bars are the 8th highest selling chocolate bar in the country, selling approximately 120 million bars a year (2014 figures, Food Manufacture magazine), but even they don't sell to everyone.
Ford sells 59,000 Fiestas annually. That's a lot of cars, but only 0.12% of the population. They only market the car to 5% of the population, because they know the rest aren't interested.
So why do you continue to try and market/sell to everyone?
The only impact a scattergun approach will have is on your bottom line - and it will be a negative one. Spending too much time, energy and money on a scatter gun approach reduces its effectiveness, get you chasing a lot of bad leads and a tiny ROI.
You have been warned
Despite the majority of businesses being able to identify their target audience, some are failing to act upon this insight. The research revealed a third of respondents are not targeting marketing activity at their priority customer base, and nearly half are failing to segment their marketing activities depending on their audience members’ needs.