It's easy to make advertising complicated. Analyze data, set percentages, create databases, etc, etc, etc.
But as I work with advertising agencies or business owners, I see a danger in some of their conclusions as they look at the data. They overlook the simplicity of advertising, and they simply overlook many great advertising opportunities that could help them grow.
So here is the simplicity of advertising:
Advertising is like sending out invitations to a party. If you don't invite anyone to do business with you, no one will show up!
Often when business are short of cash, they cut back or eliminate their advertising. Which if you read the above statement, you will understand is more than stupid, it is fatal.
Next time, I'll share with you a simple math formula that you can use to determine the success and expectations of your advertising. Contact me with any comments or questions at Scott@ScLoHo.net
Sunday, June 21, 2009
Friday, June 12, 2009
Rarely have I seen a business spend too much money on advertising. Usually they spend too little.
Or more accurately, they try the "thin" method instead of the "thick" method.
The Thin Method: Take a little bit of money and spread it around to reach lots of people using different advertising venues. $25,000 divided between 5 radio stations, a couple tv stations, some direct mail and pretty soon, you'll be out of cash, before it pays you back. Spreading yourself too thin simply doesn't work for most people.
The Thick Method: Pick an advertising venue and dominate it. For example in the radio business, buy ads on ONE radio station, and have them air everyday in the same 4 or 5 hour block of time, and pretty soon, you will become the most recognized business in your profession for the thousands of listeners that hear about you day after day.
THEN.... after you start to see a return on your advertising investment, ADD to your investment with more ads either on the same radio station at a different time of the day, or another advertising venue that fits your business.
This is not a quick process, but it is a process that works, and that's what you really want right?
Monday, June 8, 2009
Over my vacation, as my wife and I were driving through some mountains, I caught up on some reading and was disappointed with some of the advice I read from a marketing guru.
He said that you don't need to brand yourself, instead you should send out an offer for something free.
To this, I respectfully disagree.
The very best form of marketing, is often when a third party, perhaps a customer, tells others about you in the form of a referral without compensation. This is true word of mouth in its purest form.
I have personally benefited from "branding activities" that have resulted in exactly what I mentioned in the previous paragraph.
Later this month, I will be doing public speaking, authoring an article on marketing and advertising, interviewed for a business news success article and it all comes from the work that I have done "branding" myself.
Branding, when done properly creates trust. It builds relationships, it creates credibility. It eliminates the need to discount, or give away stuff.
Now, I said I "respectfully" disagree, because the man who wrote the book I was reading has achieved a level of success doing what he preaches.
But I wonder how much more successful he would be if he followed my advice instead?
Monday, June 1, 2009
A word that means point of view. In the world of marketing and advertising, so many people get it wrong.
What happens when you look through a pair of binoculars backwards?
Things look much different than if you looked through them properly.
In business, most business owners look at their business from their own perspective, which is good in certain areas like bookkeeping, inventory management, etc.
But it's backwards when you are focusing your marketing and advertising.
The Right Perspective is through your customers eyes.
What do they need?
What do they want?
How do they feel about you and your business?
Once you answer those questions, you can begin to see yourself the way the rest of the world sees you.
Problem is, too often that's too hard to do on your own, so you need an adviser, someone who will be honest with you and who knows how to be a customer. The money you pay this person for this type of insight can be priceless.
Certain companies, big ones, lost their focus and have struggled. Starbucks, General Motors are a couple that come to mind. Others have kept their focus such as McDonalds. If it can happen to these big boys, it can happen to anyone.
Tell you what. If you are in the Fort Wayne Indiana area, my company, ScLoHo Marketing Solutions can help. If you are outside this area, I have connections around the country that I can recommend. My email is Scott (at) ScLoHo (dot) net. Or click here for our website.