| Navigation: Advertising > Are Your Adverts Making You Money?
|
Are Your Adverts Making You Money?
Philadelphia retailer and US Postmaster General, John Wanamaker,
said, "Half the money I spend on advertising is wasted; the
trouble is I don't know which half."
Spend $10,000 a month on advertising and $5,000 is flying straight out the window. You waste $60,000 of your hard earned
cash every year. Money you could spend on better, more focused
marketing.
Imagine if you could find out which half works and spend only on
that half. The good news is you can. All will become clear in a
little while.
Now please let me explain how advertising works.
Broadly there are two types of advertising. One is Branding and
Positioning (BAP) and the other is Direct Response (DR)
advertising.
Is Branding and Positioning Important For You?
Branding and Positioning concentrates on getting the company’s
name,
or service or product continually at the forefront of its
customer’s minds. As you can imagine this needs continual
advertising activity and can cost megabucks. Companies doing this
type of advertising include Coca-Cola, British Airways, Nike and
MacDonald’s.
These are all major companies and everyone already knows their
name and what they stand for.
Why do they do it?
The simple answer is that they’re in a highly competitive market.
They want to retain their large market share by ensuring that the
most recent ad a prospect remembers is for their service or
product. So when they’re thirsty it’s a Coke. If they’re hungry
it’s a Big Mac if they want to fly they choose the World’s
favourite airline.
Picture the mountains of money that go towards that aim. But
picture too the accountants horror they don’t know which
campaign makes a profit.
Profit is the one thing that tells you if your campaign is
working. If you know your ad makes more revenue than it costs to
create, run and service you’d keep running it wouldn’t you?
Unfortunately Branding and Positioning (BAP) advertising can’t be
evaluated. You just don’t know whether it’s worth doing or not.
How do you know which advert finally persuaded your prospect to
do business with you.
Interestingly Bill Bernbach one of the founders of modern
advertising said that, Advertising doesn't create a product
advantage. It can only convey it."
Why Bother With BAP?
So why bother doing BAP advertising?
Probably because advertising agencies are happy to use BAP
advertising for almost any company. Any slowdown in sales can’t
be attributed to their adverts. Any increase is claimed to prove
the advert is working.
In reality you don’t have a clue.
Former Canadian policeman turned fabulously paid copywriter John
E. Kennedy coined the phrase, advertising is salesmanship in
print.
Would you tell a salesman to go see a prospect and to strip
customer oriented benefits from their presentation? Also would
you tell them not to ask for the order? You’d be laughed at and
if you insisted you’d probably go out of business and certainly
lose your salesmen.
BAP advertising does exactly that to your customer.
Is Direct Response Advertising Any Better?
In contrast Direct Response (DR) advertising is able to directly
relate a specific advert to an increase in sales. Or
alternatively highlight a problem ad that needs fixing.
This type of advertising seeks to inform the prospect as to how
your product or service improves their life, rights a wrong or
smoothes a problem. Additionally, DR advertising almost always
asks for a response. Either to call in to buy immediately
(unusual), to get a free sample, free report, free voucher, free
experience or other intermediary step before buying the target
product.
Imagine the calls, letters and emails you can get from
advertising that encourage your prospects to take action to
contact your company immediately. You get to see whether the
campaign is working. That means you can step in and tweak it if
it’s not.
But it also allows you to test different aspects of your advert
to try and increase response further. So for instance you could
run two adverts with the headline changed on one, or a different
offer on one or a free-phone number against a geographic
number.
You can see how every single word and picture in your advert
performs. Doesn’t that just feel better? You’ve control over your
spend and the customers who are bought for your advertising
dollar.
There are many people who would agree that DR advertising is the
right way to advertise. But they still don’t do it.
Why?
Usually the reason is simply one of ego. Direct Response adverts
don’t tend to be pretty or to win the Cannes Advertising Lions
awards. If you’re the head of the company or you’re the director
of sales imagine how tempting it is top run ads that might win
awards.
You already have sales coming in. Running a BAP advert will still
get sales coming in. And you might win that Lion at the Cannes
awards for best advertising.
You’re fooling yourself if you think it’s for any other reason.
Because almost without exception Direct Response adverts will
pull more sales than BAP adverts.
Yet many advertisers don’t realise it. They’re convinced that an
advert has to look "professional" to sell. WRONG!
Do you want more sales?
If you do, and I’m sure you do use the following steps:
Step 1: Learn how your products relate to your users. Which
emotions, feelings and beliefs does it generate or speak to?
Step 2: Assess the best way to convey that to your ultimate
user.
Step 3: Do the newspapers/magazines/radio/tv channels you’ve
chosen to advertise in get read by your preferred prospects?
Step 4: Check and test each ad with a single entry in your chosen
media. (Do not run ad series until you’ve tested the pulling
power)
Step 5: Buy the smallest display ad possible. Then each time it
makes money buy the next size up until it starts to lose money.
Then go back to the last one that made money - the optimum
size.
Step 6: Continually run split tests to find the best pulling
direct response for your product
Step 7: Use some of your advertising saved to buy other means of
marketing
About the author:
Jim Symcox, also known as the Marketing Magician is a
copywriter, marketing coach and the author of "How to
Leap Ahead Of Your Competitors".
For marketing "how to's" email web@acornservice.com with
"articles" in the subject line and you'll be sent a copy of the
book Try his blog at www.acornservice.blogspot.com for more tips
Advertising Articles:
Things good to be known about Camper Shells
Camper shells in different shapes and sizes offer protected storage and versatility.
Protected storage is an important asset for RV owners, and for the owner of a pickup truck towing a travel trailer, a camper shell is virtually essential.
$1 Million in Google AdSense Earnings
They are calling him the million dollar man. Jason Calacanis recently revealed in his blog that he is on track to earn a million dollars from AdSense over the year ahead.
Sex in Advertising
I do not agree with some of my professional colleagues who preach that we should not take ads seriously while basing their
conviction on the slogan “creative light-heartedness and freedom of expression.” Advertising is a pervasive, powerful force
that shapes attitudes and behaviour in today’s world that it would be foolhardy not to take commercials that seriously!
Are Your Adverts Making You Money?
Does your advertising costing you $10,000 a month? If so you might
as well burn $5,000 of it. Unless you know how to make
your ad more effective. This article gets you started
making more effective ads.
Viral Marketing: What It Means and How It Can Impact Your Business
Viral marketing basically creates a word-of-mouth referral method by using your existing customers and contacts. Your message is passed around and around, creating exponential growth for your company
How to Advertise In Ezines
Advertising in Ezines has proven to be a very cost-effective way to market. You can reach a large audience for
little investment and the exposure usually happens very quickly. Most Ezines will tell you what their requirements
are for advertising. Make sure you follow the guidelines they set forth
How to Advertise FREE with Ezines
This is a win/win situation because it gives the editor free material and it gives you free exposure to their subscribers. It also establishes you as an expert in your field, which can do wonders for your credibility
Understanding Banner Adertising
A banner ad is a graphic that is displayed on a network of websites. When someone clicks on that banner, they are taken to the site of the person, or company, that owns the banner
Quick Tips for Designing Your Banner
While banners have lost the appeal of many marketers on the web, they are still an effective means of pulling in traffic. The key is to have a visually appealing banner with an enticing offer
Tips and Tricks to Advertise Using Pay Per Click Search Engines
Pay per click search engines are an effective way to get the most out of your marketing budget. Take the time to explore this option further and you will be pleasantly surprised at the results you achieve
Promoting Your Business Offline
Offline promotion for your Internet business is important. Use traditional marketing channels and media. Incorporate your Website URL (web address), phone number, and mailing address into all of your printed and promotional materials
The Paradox of Advertising Creativity
Reaching the target audience for a brand should not necessarily require resorting to shocking or offensive material so as to stand out. Ads need to project the right image. Did you know that Volkswagen ads made fun of the car? A slogan for one of the ads was “ugly is only skin deep” because it has a lighter, more spirited image (Grace Butland 2000). The manufacturers started with a well-defined image and built their advertising around that image
Disruptions in Advertising
Ours is now a brave, new world, replete with alternatives to straightforward advertising. P&G recently embraced channel planning which is about putting media or communications planning at the front end of one’s campaign creation. The organization realizes that the first step in any marketing programme is to understand one’s consumers and how they might be reached rather than what might be said to them.
Channel planning is about trimming traditional media ad budgets and spending more on other marketing activities
Technology-driven Outdoor Advertising
Thanks to the advent of new true colour, ultra-bright LED technology which now makes it possible for outdoor electronic billboards to be capable of performing like a real outdoor television even under direct sunlight. The EVB is an attractive, animated giant outdoor advertising video screen which is noted for arresting people’s attention on a busy street whether pedestrians or in a car or bus or stuck in traffic.
DISCONTINUITY IN ADVERTISING MEDIA
Our traditional media owners should find ever more pressure to prove their value in the marketing mix. Ambitious advertisers should learn to project marketing messages into the digital fabric of online games. When will the proverbial light bulb light up for Nigeria’s marketing communications industry? Why can we not take a cue from BMW, for example, which has looked for other media that are invited into consumers’ homes, e.g. the groundbreaking BMW films on the Internet? What if we experience the “TiVo” syndrome? TiVo pioneered digital video recorders (DVRs) in 1999 which make it possible for you to skip advertisements. What if our market is flooded with interactive televisions? Are these threats or challenges to our marketing communications industry?
Larry Light, global chief marketing officer at McDonald’s once remarked openly that broadcast-centric model was dead. According to him, “mass marketing today is a mass mistake.” Nigerian advertisers need to be more concerned than ever about getting value for money.
ORGANIC TIE-INS: ADVERTISERS’ BOUQUET OF OPPORTUNITIES
Meanwhile not far from my domicile, a satirical film on the Lagos Bar Beach was the subject of a forum. The irony inherent in the film is the fact that a stone’s throw from the once serene beach is a tourist edifice where we are shown films like Spiderman, Goldeneye, Austine Powers, Be Cool, XXX, etc. What most of us probably do not know is that these movies made millions of dollars even before they were ever released!
Online Shopping Resource for Users and Advertisers
BuyIt.ws is new amazing shopping resource that connects providers of products and services to Internet users looking for products and services online. BuyIt.ws provides free advertising options as well as on PPC base.
Sending Emails Doesn't Make You a Spammer
Email Marketing - being compliant and making a profit
Banner Advertising for Beginners - Part 1
Introduction to banner advertising for the small business website owner.
WAHMS 5 Tips to Increase Your Google Adsense Revenue
Five Easy Tips for Work at Home Moms to increase their Google Adsense Revenue. Read this article to make more money with Google Adsense on your website.
PPC Easy As 123
Entrepreneur - a risk-taker who has the skills and initiative to establish a business. Does he?
So called guru-s creating life time opportunities one after another and because of them, sometimes its better to give money to a perfect stranger than pay for so called perfect biz.
Advertising as a Threat to Innocence
Do you still remember our own immoral outdoor advertisement for a condom brand and the issues it generated? We are starting to find it difficult to protect our children from suggestive subjects and images that they are not emotionally and psychologically prepared to handle. Do we not owe our children the duty of protecting them and guarding their childhood? There is no doubt that things have changed from being decent and proper, to being indecent and morally corrupt.
Decency Issue in Advertising
These advertisements are targeted at men for the simple reason that sex is just one of our basic strong emotions. And advertisers will always attach their products to these basic emotions in order to sell them
What are Hover ads and why are marketers choosing them over popup windows?
Hover ads have been called the next generation in online advertising...so what are they? and why are they much more effective than regular popup windows?
Are Popups Good for Marketing? Annoying to some, Interesting to others!
The big question. Do people actually pay attention to pop ups? With so many softwares out there that deal with blocking pop ups you'd think the answer would clear. Back a few years ago pop ads were all the craze, but as more and more sites starting using them they became more like spam then anything else.
Marketing via Email. Why aren't People Replying?
Chances are if people haven't requested to receive an email from you then you are wasting time. Let me guess your routine:
-Select a list of names.
-Type in subject and body text
-Click send.
Hype: The Advertiser’s Wet Dream
When will the real brand with real advertising and real branding emerge? Advertising practitioners need to guide their clients in identifying the real market and its needs. They should introduce the much needed realism in their brand communications i.e., candid-cam advertising, real-life cameo branding, such that a real interface of the brand with the real consumer is established in the market place
Do Free Articles Work?
Free articles are used to promote business, whether the writer’s own business, or the business of the website on which they’re used. But do they really work?
There is hidden a 'Successful Formula' in everything
What can you do to make your advertising techniques better? Try to find a successful formula to market successfully. There exist a formula in everything... yet 50% never use it.
Advertising - Do you dare to wait?
Living in a world of Advertising Fairy Tales.
Talking about Free Members Making Money in Advertising Fairy Land.
Do You Need Links to Your Site?
Do you prefer automated link directories or semi-automated moderated link exchanges? Or would you rather host link scripts?
How To Win The War of Pay per Click Advertising
Know how to get really highly targeted traffic to your site by the real cut method-Pay Per Click Advertising in a simple and easy way that really works for you.
Pay-Per-Click - Inside Edge
This month we take a look at how Pay-Per-Click Pays Back Big for Local Business Marketing Efforts and hear from industry experts on how an effective and well managed Pay-Per-click campaign can benefit any business.
Is Your Website Innovative? Increase Your Business Over Night!
While studying online for IT investment opportunities, I found that one main factor was constant. All of the biggest money makers have eye-catching, simple, innovative, and the cleanest websites online!
The most powerful niche in the world and how you can always profit from it
It seems everyone these days are looking for a profitable niche. This is the map to a goldmine.
Audience Motivation in Advertising
I find the market age concept interesting. In their research paper, “What to say when: Advertising Appeals in Evolving Markets,” Chandy et al submit that market age is crucial to understanding the inverse relationship between motivation and ability to process ads. For a particular product or service, one market is considered older than another if the product or service has been around and enjoyed advertising longer in the first market than in the second market. Market age therefore refers to the length of time that a product or service has been available and advertised in an identified market
MSN PPC Advertising Behavioral and Demographic Targeting: Killer App. or Achilles' Heel?
Privacy advocates, bloggers, and many people's own low tolerance level for creepiness may damage not just the advertising program but MSN itself.
|
|
|
