If there is one thing that most organizations have in common, it’s that they would love to keep getting the same or better results from their marketing plans while still finding ways to cut fat from the budget.
Typically, this is easier to manage than accomplish, and reducing the size or scale of your marketing efforts can backfire in a hurry. But, there is one way to spend less on marketing without sacrificing the bottom line: Focus more closely on a specific product, niche, or type of customer.
This almost always works because truly great marketing campaigns are all about efficiency. The smaller and more well-defined your audience is, the more cost-effectively you can reach them… at least to a point. There are certainly cases where campaigns can become too narrow, but most businesses never get close to that point.
If you find out where your most profitable future orders are going to come from, or which segments of the market you can ignore, you are well on the path to magnifying the bottom-line results you get from your online and off-line marketing efforts. Remember that as fall winds down and you turn your attention to your 2013 business plan – concentrating more tightly on a few key ideas could be the key to high-impact, low-cost marketing in the coming year.