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Is Your Business' Engine A Gas Guzzler or A Highly Tuned Machine?While your marketing budget is one of the most important budgets to keep full of gas and working hard for you, it can also be the source of unnecessary marketing investment. What are unnecessary marketing investments? Simply, anything which you're spending money on, which could be making you more money elsewhere. For example, are you running an image based advertising program in your local paper or magazine which doesn't make a specific offer, a call to action, or a reason for your target market to come to your store? Are you just "putting your name out there"? If so, your marketing budget probably has a leaky fuel tank, or at least an engine in need of a tune up.Mark Stevens, author of "Your Marketing Sucks" has a very effective prescription for a marketing budget that lacks focus and cost effectiveness... and that is, just cancel it all. If you're spending $5,000 a month on advertising, cancel it all. Unless you're running direct mail, to targeted lists, or ads in the paper where you can measure response to the decimal point, cancel it. Cancel it all. You may be surprised to find "keeping your name out there" isn't anywhere near as effective as you once thought. What are some signs that you're running low ROI ads?
- You don't measure the effectiveness of your marketing
- You have no specific offer
- You have no "call to action" or, immediate cause to call or attend your place of business
- You advertise "like everyone else"
- You think of marketing as advertising
- You aren't aware of your USD, or of your positioning in the marketplace
Are you making any of these marketing mistakes? If so, we may be able to help- click here for a free quote.Not ready to change gears in your business just yet? Sign up for free updates to this website and the occasional newsletter delivered right to your inbox, or check out our blog.
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