Advertising: Money Well Spent and Not!



Advertising: Money Well Spent and Not!

If you plan to run a full page ad in a newspaper or magazine, the response to your ad should be measurable. Whether you are a Fortune 100 company or a local small business, your promotion must be linked to a call to action from you target audience. If these criteria are not met, and they usually are not, you will receive more satisfaction sending your advertising dollars to your favorite charity. Let’s look at some recent examples:

In the Tampa Bay Florida market, 1-4 full page advertisement are published nearly everyday. There have been promotions for special event seminars. One was clearly a lead generation ad with specific times and locations of the free seminar they wanted you to attend. This promotion was well done. The seminar promoters will know, exactly how many people came to each location and out of that total how many people purchased the special training package that I am sure was offered at the event. Return on investment is easy to calculate. Hopefully,
they also obtain the contact information of attendees who did not purchase. That allows the company to implement a follow – up communication strategy. These are exactly the principle at the foundation of www.localretailmarketing.com  By the way that means marketing to your customer in their local market.

I am delighted to see examples of promotions that are rational and are positioned to measure effectiveness. Most are not. What you will typically find in this market are major promotions in the newspaper for commodity items. The price points are high but they are commodities. For example, lasik laser eye surgery, cataract surgery, hearing aids, contact lenses, sweepers, furniture and the list goes on.

Some will argue that many of the products and services are not commodities. When there is no unique selling positioning and when the product or service is readily available in any market, I view the offer as a commodity.

Please do not misunderstand the key message. Newspaper advertising, magazine advertising, regardless of the size of the ad can be very effective. The key is having a measurable call to action. One example is having one number to call where the prospective customer can schedule a free consultation or receive a special discount. Whatever the offer it should have a limited time associated with it. Something like "For The Next 3 Days Only…" The offer can be tested giving people one choice which is to call and another could give people two options including call or use a designated internet page. Giving them more than two choices is not recommended.

Marketing is very important to business development. It can be effective with a high return on investment or a complete waste of money. Generally, by focusing on a couple key attributes of effective marketing, you will experience an extraordinary return on investment.

Steve Pohlit,Business Consultant"Helping Companies Make Extraordinary Profits Now!" 

Author: Steve Pohlit

Independent BEMER Distributor Real Estate Investor Business and Real Estate Coach, Consultant Professional Speaker, Author

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