Straight answers to what clients ask us most.
No. It means fewer irrelevant impressions. You usually reach fewer people in total but a higher proportion of them enquire, so the number of customers goes up while the cost per customer goes down.
As a working guide, below roughly fifty thousand people an audience tends to fatigue quickly, with frequency rising and performance falling. Watch frequency rather than audience size: more than three or four impressions per person per week alongside falling results means you have gone too tight.
Because you are now competing for a more valuable audience, which costs more per click. That is expected and not a problem. Judge the change on cost per enquiry and return on ad spend, both of which normally improve even as cost per click rises.
Broad match can work, but only with a well maintained negative keyword list and reliable conversion tracking to guide the algorithm. Without both, it is the fastest way to spend budget on searches that will never convert.