One of the most difficult for people to get used to is the
fact that they do not get any return on their advertising
dollar.
When you start testing advertising and marketing done the
emotional response way, you'll have to decide whether
advertising and marketing campaigns you start and test are
working well enough to continue.
All the biggest myths about advertising and marketing that
are professed by all the so called "gurus" is that there is
a cumulative effect of marketing and advertising. That
"name recognition" builds from this cumulative effect and
eventually results in business.
Image marketing can and does work in very limited
circumstances. Those circumstances are strictly in
situations where someone has so much money and so much time
that they can afford to build name recognition that
eventually leads to a large and successful business.
For example, we all know McDonald's and Coca Cola, and
we've all seen the polar bears and the Golden Arches. We
know about those products as things implanted in our
brains. Keep in mind though, that Coke and McDonald's spend
literally millions and millions of dollars a year to get
and keep that kind of name recognition.'
In many businesses, while some large companies do have name
recognition, there isn't always a so-called "taste" as
there is with Coke or McDonald's. People go to buy those
products and eat or drink them because they like the way
they taste. They don't go just because they recognize the
name.
Now keep in mind a very, very important difference between
these types of products and many other kinds of services.
In services, nobody knows what you taste like, or whether
one office of "Great way Brokers" is better than "Smart
Financial Services".
Why? Because many services are highly personal. They
require making personal connections. "Name recognition"
won't help you a bit if your advertising isn't seen by
anybody because it's boring and uninteresting.
The cumulative effect and measuring the success of your
marketing clearly presents when you want to do any direct
marketing project, it either works well right away, or it
doesn't. Occasionally, you have a mediocre result that can
be tweaked and improved. Normally you know instantly
whether your advertising and marketing is working.
Let's say for example you were in sales and you decided to
run an ad in your local paper for $40. After two days you
receive eight leads who leave their name and address in
your Voice Mailbox. Now, using a ballpark of $10/lead as
the maximum acceptable cost for any type of marketing or
advertising campaign, you can get an idea of whether your
promotion is in the ballpark or not.
With this $40 ad divided into 8 leads, you're paying $5 a
lead. Which is certainly an acceptable cost per lead. This
sort of cost-per-lead range will end up being very
productive and successful for you as you move through the
testing and increase the frequency and size of your ads.
But, if you ran the same $40 ad and only got two responses,
you're at $20 a lead. That tells you that the ad probably
either A) has the wrong headline, B) is in the wrong place
in the paper, C) is in the wrong publication altogether, or
D) is in the wrong time of the week or month, or any
combination of the above variables.
This would work the same way if you were in the retail
business. Instead of getting leads you would get customers.
Wouldn't it be better to get 8 customers to respond to you
rather than 2 customers? The ad cost the same no matter
what your response is, however the bottom line on your
business makes it a huge difference.
To be honest with you, even though you can take educated
guesses and get pretty good at figuring things out over
time, as you get more experienced in response marketing,
you still never know exactly why a particular campaign does
or does not work. All you know is either A) it does, or B)
it doesn't.
By Abe Cherian
Copyright © 2005
You may publish this article in your ezine, newsletter on
your web site as long as the byline is included and the
article is included in it's entirety. I also ask that you
activate any html links found in the article and in the
byline. Please send a courtesy link or email where you
publish to:
support@multiplestreammktg.com
About The Author
Abe Cherian's online automation system has helped thousands of marketers online build, manage and grow their business. Learn how it can benefit you too.
http://www.imediatools.com