Thank your for taking the time to review my thread.
I have had the privilege of being an owner and co-founder of a successful internet venture. However, one of the biggest hurdles we have been faced with is how to optimize our advertising.
While most products/services have specific target market our service has been blessed (and it would seem cursed) with a HUGE target market. Our service was designed and developed for businesses and business professionals with no or less than 5 employees. In the U.S. alone, this makes up roughly 26 million registered business (not including private contractors), which is over 90% of total businesses.
We have run national advertising campaigns that have targeted this broad number of potential clients but have only seen average results. We have also ran niche marketing campaigns that target a specific group of small businesses (e.g. real estate agents) with much better conversion percentages but at a lower overall number of conversions.
Our service is based on monthly recurring billing, so our lifetime value of our customers is higher than average.
What are you opinions and experiences with large target marketing vs niche marketing? I am not a marketing expert and would love to hear some insights
I have had the privilege of being an owner and co-founder of a successful internet venture. However, one of the biggest hurdles we have been faced with is how to optimize our advertising.
While most products/services have specific target market our service has been blessed (and it would seem cursed) with a HUGE target market. Our service was designed and developed for businesses and business professionals with no or less than 5 employees. In the U.S. alone, this makes up roughly 26 million registered business (not including private contractors), which is over 90% of total businesses.
We have run national advertising campaigns that have targeted this broad number of potential clients but have only seen average results. We have also ran niche marketing campaigns that target a specific group of small businesses (e.g. real estate agents) with much better conversion percentages but at a lower overall number of conversions.
Our service is based on monthly recurring billing, so our lifetime value of our customers is higher than average.
What are you opinions and experiences with large target marketing vs niche marketing? I am not a marketing expert and would love to hear some insights
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