One key to improving your marketing ROI (Return On Investment) is targeting. The more precisely your marketing is targeted to prospective buyers, the less money is wasted on people who aren’t going to respond.
With almost any business, geography is a key factor in this.
For example, in our business, 90% of the prospects that find us on the Internet, and end up becoming clients, are located in Tampa Bay. So we run click ads only to the Tampa Bay metropolitan area.
The geographical point-of-diminishing-returns – where it is no longer cost effective to market – varies widely and wildly from industry to industry and in some cases within an industry and in different locales.
For example, for general dentistry, the vast majority of your patients are going to live or work within 10 or 15 minutes of your office. But in rural areas, that can increase. It can also increase if yours is a specialty practice, such as natural dentistry or high-end cosmetic work.
You can often find out where to concentrate your marketing simply by examining where, geographically, the bulk of your past customers come from.
It isn’t that potentially you can’t market or develop a market elsewhere. It is that would be experimental, maybe wishful thinking. The best first place to concentrate marketing to, is almost always where your customers have been coming from.