Understand your demographic

It appears to me that in a world of mass information and a 24 hour news cycle that people are always spouting opinions without checking facts. There is a saying an old boss of mine used. He use to say “the masses are asses”.

Now more than ever when people are marketed to at almost every turn and through every means of communication I have to ask.
Are you doing a disservice by mass marketing outside your demo?
It’s 2018. The technology we have is amazing. The ability to track purchasing power and people spending habits are, for lack of a better term, intense. The bigger issue is that so many marketing professionals do not take the time to research their customer that they end up needlessly spending money they don’t have to.
I currently work for an investment company and I am tasked with creating campaigns for our two product lines, asset management and financial research. There are a variety of strategies I use to attract both financial professional and high net worth individuals. I have done and continue to do my research and take calculated actions with my campaigns. I have seen some marketers posting on facebook to people in my demographic for a variety of products that I am the totally wrong audience maybe with the exception of gender, race and age.
They take the law of numbers approach to marketing as in cast a wide net. I am more of a sniper approach with the one shot, one kill (sale) approach. This does vary case by case however. I market financial products but god know I would be a bit looser on my demographics if I was selling muffins.

The take away:

Do your research and don’t rush it. Explore new ideas and tactics and lose the “but that’s how we’ve always done it” mentality.