Marketing can be loosely broken down into two types of strategies: what I like to call high quantity and high quality.
In this post I’m taking a look at high quantity strategies – what are they, and what do they have to offer?
Some examples: “Sponsored posts” on Facebook, banner advertising through generic or specific networks, certain types of email marketing, catalogues delivered through the post.
In a nutshell, high quantity marketing delivers your message to a lot of people. However, with high quantity comes low quality. This isn’t necessarily a bad thing, it is just another feature that needs to be taken into account. Some of the other key features of high quantity marketing:
- Generally low cost
- Limited options for targeting
- Suitable for general awareness messages
- Deliver low impression : conversion ratio
Generally low cost
Because of the low quality aspect of high quantity marketing, the cost is generally quite low. This means it can be a good option for those with low budgets, or who are just starting out.
Limited options for targeting
High quantity strategies aim to deliver results by giving the broadest reach to your message. Specific targeting of audiences is generally unavailable for these sort of strategies – or where available, narrowing the target audience too much can mean you lose the advantage of exposure without gaining anything.
Suitable for general awareness messages
Because of the wide audience of this type of marketing, it’s well suited to general awareness messages. It can be particularly useful for getting your name and brand out there, and – if you’re an established brand – letting people know about a specific event like a sale, or introducing a new product.
It can also be useful in a supporting role for high quality marketing – to reinforce a message that your customers may already have seen elsewhere.
In this instance, “disposable” refers to how the content of your marketing is viewed by the audience. Of course it is possible to serve highly relevant, interesting content through high quantity platforms, but by the nature of these platforms, people reached in this way are less likely to engage.
Note, though, the golden result of having content that is engaging enough to take off through a high quantity platform is where you can really reap the benefits – great results for bargain prices!
Deliver low impression : conversion ratio
High quantity strategies will generally deliver a lower impression to conversion ratio. That is, of the number of people your message is shown or sent to, only a small percentage of them will actually end up as sales.
With high quantity strategies, only a small percentage of the people who see your message will be inclined to take action, e.g. clicking on a link. For some networks, a click-through rate of less than 1% is actually considered average.
Those who do take action are also likely to be less qualified – that is, any leads will be of lower quality. In addition to making them less likely to turn into sales, this can mean more work for your sales staff, following up with prospects that aren’t very serious. Some indication of this cost to your business should be taken into account when costing high quantity strategies.
Why bother with high quantity marketing?
This might all sound a bit off-putting, but it shouldn’t! A high quantity strategy is a low-risk, low-cost way of getting started with your marketing, or for more experienced marketers will usually form part of your overall mix.
As many high quantity campaigns are delivered through digital platforms, they’re also easier to track and to see results of than other types of campaigns. You can gauge very precisely the impact of your marketing and see whether it’s offering you good return on investment.
The advantage of the broad reach coupled with the low cost makes high quantity marketing a good way to raise awareness of your brand. The cost is often so low for these types of strategies that a single sale resulting from one will cover several months’ worth of campaign costs.