No Consumer Left Behind: How Inclusive Marketing Raises the Bottom Line
You have a new product line ready to hit the market. You have been waiting for this moment for a long time. Yet, despite the fact that you have a fairly solid segment of the consumer base that loyally buys your products, you would still like to reach more consumers to increase your sales volume each quarter. This is where inclusive marketing campaigns can make a huge difference.
Leave the Ad Open
In a lot of marketing approaches, the idea is to drill down to develop a picture of the ideal consumer on which to focus your marketing efforts. Alternatively, by being less strict with such ad details, you can create ad copy that is more open and inviting to a larger readership. This means that your ad may appeal to consumers that you might not normally reach. Consequently, the old marketing rule of speaking to the radical and most loyal users of your products and services is a great place to begin building a marketing foundation, but it should not be your only focus. Grabbing hold of other less enthusiastic consumers can be profitable too.
Test Market Studies
Another way to get inside the heads of consumers from different demographics is to simply conduct test market studies. For example, you could simply give away some product samples and coupons to people who you would not expect would be your normal type of customer and track the response. Sometimes this strategy works well. In fact, you may learn that you have not been reaching your most profitable demographic for a given product or service until you try this strategy. Your sales volume could even start to spike higher than usual from this kind of inclusive marketing approach.
When it comes to building an inclusive marketing campaign, you must become aware of the type of target demographic you want to reach with your ad copy. For example, if you have products that would be ideal for a Hispanic demographic, then you may consider orienting your inclusive marketing campaigns in a way that utilizes Hispanic Digital Marketing techniques to reach a younger Hispanic crowd. This way you are blending modern marketing techniques with tried and true demographic studies that helps you specifically identify what kind of consumer you need to be targeting within a given population. US Hispanic audiences are one of the most loyal in entertainment and have over $1.3 trillion purchasing power. It’s definitely not a demographic to sleep on.
When it comes to marketing, it is sometimes hard to imagine that your products would appeal to a larger segment of the consumer base than you are already reaching. It is this kind of limiting belief that prevents a lot of companies from reaching their true potential in the marketplace. While focusing on certain demographics exclusively can be a strategy for maintaining a level of revenue regularity, branching out with more inclusive marketing approaches will often help to increase the revenue your company is bringing in each quarter.
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