Modern-day farmers know that trying to harvest too many crops out of the same field creates negative consequences. Over-farming can extract too many nutrients from of the soil, eventually leaving a field barren and useless. To maintain a good harvest, farmers will rotate crops, let fields rest, or expand their acreage to prevent one area from burning out.
Modern-day marketers need to learn the same principle. All too often, marketers saturate the same audience over and over with repeated attempts to extract sales out of the same crowd. Sure, there is nothing wrong with consistent advertising, cross-selling, loyalty programs, and building email lists. However, many marketers tend to focus on extracting more sales from the same audience – too the point that it wears out the audience and creates diminishing returns. You can see this problem manifested in various ways, such as:
- Publishers who try to sell more books to the same readers.
- Non-profits who seek bigger donations from the same people.
- Companies who advertise in the same region without expanding reach.
Growing sales happens the same way as growing crops. Don’t over-extract resources from the same place. Instead, expand your acreage. Widen your reach. Advertise to new audiences. Try a different advertising medium. Secure new distribution channels and additional retail partners.
Focus on reaching a bigger audience, rather than wearing out the same customer base you already have. Think like a farmer: add more acreage to prevent sales burn-out.
Questions to consider:
1. Will you advertise to a wider audience this year than last year?
2. What steps can you take to broaden your customer base in the next 6 months?
3. Identify 3 new retailers or distribution channels that would help you reach a new audience of buyers.
Farming image courtesy of jk1991 at FreeDigitalPhotos.net
