This newsletter comes from the hosts of The Marketing Architects, a research-first show answering your biggest marketing questions. Find us on Apple Podcasts or wherever you listen to podcasts!
This week, we're defining the concept of "reach" in marketing. What does it mean to maximize reach, and why is it often undervalued? And does it really have to break the bank?
—Elena
95% of your audience is not in-market at any given time.
This plays on the concept of positive spill, illustrating the value of broad reach strategies that not only target current customers, but also engage wider segments potentially leading to future customers.
Leveraging reach for marketing growth.
Expanding your campaign’s reach is crucial for substantial market growth.
Effective reach strategies go beyond merely increasing viewer numbers. They require a thoughtful approach that combines broad exposure with targeted engagement. This ensures that marketing efforts resonate across a diverse audience, capturing potential customers beyond your bullseye target.
Strategically managing ad spend is important. Marketers need to maximize the impact of their campaigns by balancing the costs of broad reach against the benefits. This includes creating profitable returns and fostering lasting brand relationships, turning casual viewers into loyal customers.
By expanding reach, businesses can secure a foothold in new market segments. This approach helps build a comprehensive presence, enabling sustained growth in a competitive landscape. It shifts the focus from short-term gains to long-term success, preparing brands to not only reach more people but connect with them more effectively.
"P&G's Mark Pritchard on Using Media to Grow Markets”
This article by Joseph Arthur explores the themes discussed in Mark Pritchard’s ANA speech, exploring ways to achieve broad reach while maintaining effectiveness and efficiency in your advertising campaigns. Read the article.
How to create business.
“The most important part of marketing is market. Market matters. Growing markets is the best kind of growth because it creates business versus taking business from others.”
—Mark Pritchard, Chief Brand Officer at Procter & Gamble