Part three of our Insights Series on Future Demand in Action (from the Commercial Communications Council report 2024).
Over the last couple of week's we looked at the power of familiarity (the exposure effect) as well as why marketers should be using brand and performance marketing tactics in tandem to become more efficient at converting current demand, as well as building future demand for their brand.
This week we look at why broad targeting is the best strategy available to marketers regardless of their campaign objectives.
The Future Demand In Action report found that broad targeting drives much better commercial success than targeting very specific or narrow audiences.
Advertising Goal: Converting Current Demand
Broad targeting is 2.5x more effective at driving short-term commercial results than specifically targeting a very narrow audience segment
Advertising Goal: Growing Future Demand
Broad targeting is 2.9x more effective at driving long-term commercial effects vs. campaigns that are narrowly targeted
Increasing penetration (i.e. attracting new customers to the brand), is much more likely to lead to business growth vs. campaigns that focus on loyalty. Increased penetration is much more likely when more people are aware of your brand. Therefore broadly targeting your campaign will have a direct impact on your ability to grow your market share.
MediaWorks channels connect with a very broad and very engaged consumer base, as was reflected in our survey latest survey results below.