Wednesday, 16 June 2010
5 Proven Ways to Waste Advertising Money
1. Yo Yo Advertising
My friend Dottie can precisely predict her sales peaks and plummets accurately...and no, she's not into fortune telling. Experience has proven that March, April, and May will bring a lot of money to her account, while September and January will put her in the slumps
Sound familiar? Have you too been caught in the vicious cycle of high and low sales volumes? Why? Most of us tend to advertise heavily while things are slow - in a desperate attempt to get customers through the door, but back off when things are hopping.
If you're looking for an even-keeled market, develop a steady marketing plan. Steady advertising produces steady growth...and steadily climbing profits!
2. Single Shot Advertising
One shot ads, rarely get results. Most customers are just like you, they don't jump on the band wagon the first time it passes by. They often need to see your sales material several times before they actually make the move to walk through the doors.
Follow-ups are necessary for success. We're not just talking about prospective customers now...even your loyal customers need to be cultivated for sales. How many times have you thought about making a purchase, but just never followed through with it? Sure, we all do it. Sometimes it takes a little pressure to get us to part with our hard-earned money. Make it a point to spend time building relationships with both new customers and your faithful following.
3. MonkeySee, Monkey Do Advertising
How many times have you seen the same advertisement ideas written with just a little different twist? If you're surfing the Web you've come across plenty of the aped ads! Yeah, you can predict what the next paragraph will cover, because you've seen it so many other places.
Sure, copy cat ads can be effective for a little while, but the results will quickly die down as others join in the copy mania. If you're looking for REAL and LASTING results, be original. Do what only you can do, forget about what everyone else is doing. Be you. When a competitor does have a good idea, improve on it. Don't follow in his footsteps...step out and lead the way to more effective advertisements.
4. Wild Shot Advertising
Ready, aim...yeah aim before you advertise! Don't be caught up in wild advertising that gets your message in front of a lot of people who have absolutely no interest in your product or service.
Target your market...and get better results for your investment. Finding the target market that has a specific need you can fulfill takes a little time and research, but you'll feel the effects when you hit the bullseye!
Think about this...there are advertising venues that your competition is overlooking. What about postcards? These high impact marketing tools are often overlooked. Yet, they're the perfect low-cost way to generate prospective customer interest. Keep an eye open for overlooked marketing gems, and get one up on your competition!
5. Me, Me Advertising
What is it that consumers are looking for? ...Exactly, something that is going to benefit them. They really aren't interested in the facts about your product...they want to know how it will impact their life or lifestyle.
Take a look at your ad copy, and ask yourself what are you portraying...facts or benefits. Multi Level Marketers have this all figured out. Rather than tell you they have a business to offer, they spend a lot of time promising you freedom to work your own hours, countless vacations, summer homes and a host of other things you've probably already dreamed about at some point. Hey, don't knock it...the MLM industry is a steadily growing element in our economy.
Don't bore your readers with the facts...attract them with exciting elements that will fulfill their needs or desires.
Are you getting the results you've been looking for? Take another look at your marketing strategy...are you making the same mistakes many marketers unknowingly make. Hey, real success may only be one change away!