Category Archives: Marketing Tips

The Purpose of Marketing and Advertising Part 2

Thinking what is the purpose of marketing and advertisingThe Purpose of Marketing and Advertising Part 2

 

I made a promise to deliver some thoughts on Advertising and Marketing that can challenge the way you think about your business.  Hopefully, I did not bite off more than I can chew….

In part one, I stated that advertising and marketing is the life blood of business because it brings the new energy a business needs to grow and thrive.  I also stated that if you help others achieve their goals with your products and services and deliver more value than they pay, you can turn these new customers into steady streams of new energy through repeat sales and referrals.  It is what I believe and I coach my clients to pursue this course as it is one that generates good will and steady profits.  This is my twist but if you read the quotes it gets back to ancient spiritual wisdom (this case the Bible) as most of our positive personal and business development ideas do.  This is a solid foundation upon which you can build a sustainable approach to growing your business.  Now for part two of the series – an even higher purpose for advertising and marketing.

“Our truest life… is when we are in our dreams, awake.”
   David Thoreau

I am going to start with a challenge…. If you are not in a business that you love and that gives you joy – get out of it and find one that does.  It is only time going by.  We are all on a one-way ride called life.  If you choose to spend your energy on things that do not give you joy and you do not love so be it.  Doing things that you love gives you more energy and work becomes more fun, more joyous and your customers feel this which makes them feel more comfortable … which makes sales easier providing that you deliver value.  On the other hand, doing things that are drudgery to you and things you do not like drain your energy and this also come through to your customers….  I’m not saying that your dream business will always be easy because it will be difficult at times – that is why it is called work. But, work does not have to be a drag on your energy or state of mind.    When you are working towards your dreams, you are rewarding yourself with every accomplishment that brings you closer to manifesting them.   For some people running the best auto repair shop in town might be their dream; for others it might be leaving the corporate “rat race” and opening their own franchise.  It can be running your own beauty salon to becoming president of a Fortune 500.  It could be running your own accounting firm or it could be developing a spiritual/personal coaching business.  It doesn’t matter.  What matters is that it is your dream not mine or anyone else’s…

“I think… therefore I am”
   Rene Descartes

“If you bring forth what is within you, what you bring forth will save you. If you do not bring forth what is within you, what you do not bring forth will destroy you.”

Jesus

“When the legends die, the dreams end; there is no more greatness.”
   Tecumseh

“It always seems impossible until it’s done. “
  Nelson Mandela

So what does advertising and marketing have to do with finding your place in the universe? 
And what does that have to do with running a successful business?

Let’s start with some dreamers who did not give up:

Fred Smith the founder of Fed Ex

While at Yale, Smith wrote a paper on the need for reliable overnight delivery in a computerized information age. His professor found the premise improbable, and to the best of Smith’s recollection, he only received a grade of C for this effort.  I found this information in a biography on Fred Smith… I guess that shows that even Yale Professors are not always on the money!

Thomas Edison

On the light bulb:

“I have not failed. I’ve just found 10,000 ways that won’t work. “

Later this was written about Edison marketing his phonograph:

“Edison and his copywriters courted the urban middle class with advertising that made prospective customers feel as entitled to enjoy the pleasures of recorded music as anyone.”

Randall Stross “Edison The Inventor, Edison the Showman” – NY Times 3-11-07

Colonel Sanders

“Colonel” Harland Sanders persevered… “and after a little over 1,000 visits (to sell a franchise for his Kentucky Fried Chicken), he finally persuaded Pete Harman in South Salt Lake, Utah to partner with him. They launched the first “Kentucky Fried Chicken” site in 1952.”
Colonel Sanders Bio – Kentucky Fried Chicken Story, Bio.com

Sylvester Stallone

It has been said that Sylvester Stallone tried to sell the script of Rocky over one thousand times.  He turned down an offer over $300,000 when he had a couple hundred dollars in the bank because the studio did not want him to play Rocky.  He persevered and the rest is history….

It Starts With a Dream…

All of these people started with an idea, a dream you might say.  They next met with push back and obstacles that would have made 99.9% of all people give up.  But they pursued their dreams and, upon achieving them, they marketed them.  Fed Ex is now a leader in overnight delivery and advertising has played a key role in their growth.   Edison was one of our greatest inventors who focused on fulfilling human needs (that makes marketing easier).  He changed our world turning night into day with the light bulb and the phonograph which at first was scoffed at, helped to create the music industry.  His advertising made people feel entitled to listen to music… and the rest was history….   Kentucky Fried Chicken, now know as KFC, is the leader in fast food chicken.  They constantly advertise and market their brand of chicken.  The Rocky series was watched by billions of people.  If you close your eyes I bet most of you can see the picture of Rocky on top of the stairs with his fists above his head.  Yes- that was used in the advertising….   All of these started with a dream that was not given up on.  And all of these products and services employed the power of marketing and advertising to reach levels of success that few ever do.

In conclusion, by finding the business you love it is easy to have the extra energy to go the extra mile and make people enjoy doing business with you.  It is also easier to persevere through the challenges that will lie in your path.  If you employ the right kind of marketing and advertising and measure the result you can, over time, develop a profitable mix that helps you to succeed in achieving your dreams.  If you are interested in discovering and effectively marketing to your most valuable markets, we can help.

Accelerated Advertising is a marketing and advertising firm located in Rockland County NY.  We service small and mid-sized firms in  Rockland County, Westchester County, New York City and surrounding areas including  Bergen County  NJ and Fairfield County  CT and throughout the Hudson Valley.  We also serve clients around the country primarily via on-line meetings.

Click here to request FREE INFORMATION on discovering and selling to you your Sweet Spot (the part of the market that values and wants what you deliver)

Click here to go to our website and learn more….

Thoughts of Life, Love, Marketing & Advertising

The feeling of ballancing life, love, work, marketing & advertisingThoughts on Life, Love, Marketing & Advertising

 

I had written a post in the beginning of September titled “Thoughts on Success, Perseverance, Marketing and Advertising”. It was comprised of some food for thought and then a series of quotes on:  Success, Perseverance, Marketing and Advertising.  I have had such an overwhelming response that I thought I might do another.  Once again, I have augmented my favorite quotes with some from quote sites that I really like.  There are links at the end to some of these sites.  Check them out and fill your mind with positive thought from thought leaders throughout the ages… To quote one of the most famous lines from an advertisement ever: “Try it… You’ll Like it” – from an Alka-Seltzer commercial.

This time I have not categorized the quotes but have mixed in various subjects that I feel can make people successful in life, as people and in business.  Please let me know what you think and I’d love to read your favorite quotes.

I am starting with some quotes on love.  Why would a marketing and advertising guy do that?  I believe that if you love life enough it will reveal its secrets.  If you love what you are doing, you will show up each day with joy in your heart, your attitude will be contagious and you will attract and keep quality people and customers.  If you love your customers enough, they will feel it and respond to it. The best ones will be loyal and give you referrals for a job well done…. and those are the customers to build your business on!

“Give it your best and remember that life is what you chose.
Follow Your Dream and do what you love to do”
Jim Messina

“I will greet this day with love in my heart. And how will I do this? Henceforth will I look on all things with love and be born again. I will love the sun for it warms my bones; yet I will love the rain for it cleanses my spirit. I will love the light for it shows me the way; yet I will love the darkness for it shows me the stars. I will welcome happiness as it enlarges my heart; yet I will endure sadness for it opens my soul. I will acknowledge rewards for they are my due; yet I will welcome obstacles for they are my challenge.”
Og Mandino

“True love begins when nothing is looked for in return.”
– Antoine De Saint-Exupery

“Life is either a daring adventure or nothing.”
Helen Keller

“Act as if it is impossible to fail”
Plato

“My life is my message.”
Mahatma Gandhi

“Givers Gain”
Dr. Ivan Misner

“If you can imagine it, you can achieve it;
if you can dream it, you can become it.”
William Arthur Ward

“Life is like a game of cards. The hand that is dealt you represents determinism; the way you play it is free will.”
Jawaharal Nehru

“Many a small thing has been made large by the right kind of advertising.”
Mark Twain

“The Truth Well Spoken”
Definition of Advertising- McCann Erickson office entrance NYC in the 80’s

“Most of the shadows of this life are caused by
our standing in our own sunshine.”
Ralph Waldo Emerson

“The victory of success is half won when one gains the habit of setting goals and achieving them.”
Og Mandino

“What really decides consumers to buy or not to buy is the content
of your advertising, not its form.”
David Ogilvy

“Success comes to those, and only those, who are obsessed
with looking after customers”
Harvey McKay

“Advertising is the life of trade.”
Calvin Coolidge

“Striving for success without hard work is like trying to harvest where you haven’t planted”
David Bly

“Nothing is impossible; the word itself says “I’m possible”!”
Audrey Hepburn

“What lies behind us and what lies before us
are tiny matters compared to what lies within us.”
Ralph Waldo Emerson

 “Where love reigns the impossible may be attained.”
Native American Proverb

“Discover What the Customer Wants – Deliver Plus One!”
Ken Blanchard & Sheldon Bowles

“Your imagination is your preview of life’s coming attractions.”
Albert Einstein

“No man ever achieved worthwhile success who did not, at one time or other,
find himself with at least one foot hanging well over the brink of failure.”
Napoleon Hill

”If you don’t believe in your product, or if you’re not consistent and
regular in the way you promote it, the odds of succeeding go way down.
The primary function of the marketing plan is to ensure that you have the resources
and the wherewithal to do what it takes to make your product work.”
Jay Conrad Levinson

“The man who stops advertising to save money
is like the man who stops the clock to save time”
Author Unknown

 “Too many times we wait until life acts upon us to react…
Do it Now—Get Moving.”
Scott Palangi

“When the legends die, the dreams end; there is no more greatness.”
Tecumseh

Click here if you would like to find out more about Guerrilla Marketing for small business

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Out-Think, Out-Market and Out-Sell your competition

 

Here are some of my favorite sites for inspiring quotes:

http://www.great-quotes.com/

http://www.inspirational-quotes.info/

http://thinkexist.com

 

Once again – let me know what you think and send me your favorite quotes and I’ll include them the next time I do a blog with quotes.  Thanks and love the ride we call life, take it for everything it’s got, because no matter how many ”tickets” or how much influence you have… you only get to ride once!

Do You Stand Out In The Crowd?

Learn to make your marketing & advertising stand outLearn to Stand Out From Your Competition

I am attaching a great article on how one hospital focused on making their customer’s experience really stand out.  Check it out:

Griffin Hospital earns customer loyalty, and accolades, by creating customer experiences. Griffin Hospital’s efforts to understand the lives of patients and their families has earned them extreme customer loyalty. Their goal was to imagine what it would be like to be the patient so they could improve the experience for both patients and their families. But Griffin Hospital hadn’t always received this type of accolade.  Read the rest of the article here

Where is the best place to put your marketing dollars? Part 1

golf ball on green one inch from giant wholeWhere is the best place to put your marketing dollars?

New media, traditional media, inbound marketing, out bound marketing, e-mail marketing, affiliate marketing, fusion marketing, white hat and black hat marketing… there are so many new terms in the marketing world it can make your head spin.  What is a small business person to do?   Things are changing so quickly in the marketing world it is almost impossible for a small business person to keep up, much less know where to best place their money to grow their business.  In this blog I am going to explain a few of these terms and then offer what I believe you will find is a common sense approach to investing in you business’s future growth.

 

Terms:

New media – messages delivered electronically via e-mail, social media (Facebook, Twitter, LinkedIn) and the internet.

Traditional media – media delivered via print, television, radio, billboards, and mail.

Inbound marketing – a strategy of enticing prospects to come to you.  The first of these was directories and the yellow pages. Today website optimization (SEO) and pay-per click (PPC), blogging, social media (Twitter, Facebook, LinkedIn, You Tube) and permission based e-mails are all good inbound marketing tools.

Outbound marketing – Out bound marketing is often confused with traditional marketing because most traditional marketing, except directories, is outbound.  The strategy here is to catch the prospect’s attention long enough to deliver the message of how the product can help him.  Placing ads on the internet is also outbound marketing, as is telemarketing.

E-mail marketing – most people generally understand what e-mail marketing is – delivering a message via e-mail.  However, a very small percentage of small businesses understand how vital gaining the audience’s permission is and how not obtaining it will hurt you today and tomorrow.

 

A few weeks ago I was at a meeting and someone held up some traditional advertising and announced – “old media” is dead.  We strictly promote ourselves with “new media.”  Continuing, they said we are only going to use the internet and social media.  If utilized properly, these should get results — but I was not convinced they had the skills or were going to dedicate the time and effort to make that work.  Without the proper know-how and constant vigilance, these media will not produce the level of results that they can.

I often hear people say they have a website and have tried social media but they don’t work.  Unfortunately, the reality often is that the small business person does not know how to make these perform optimally and they do not have the time to dedicate each day to maximize their effectiveness.  As a marketing coach and marketing consultant, I am asked to help firms transition from strictly traditional marketing and advertising to a blend of traditional and new marketing that is most profitable for them.  The key is to understand the media in both worlds and then develop a plan that tracks the profit generated from the activities.  I follow a radical philosophy in marketing – Most in my business will tell you to brand at all costs.   I will tell small business to focus on profits, profits and profits.  When it comes to transitioning to new media and developing a blended strategy, I let the profits be my compass.  Whatever media delivers the most affordable leads from my client’s most profitable niches is going to stay in my client’s plans.  If they do not produce, they are gone….

Part two of this series will come tomorrow.  However, if you would like to learn more about new media, traditional media and how to develop profitable on and off-line marketing,  check out our website:

www.acceleratedadvertising.com

Click here if you would like to receive free marketing tips that can help you
Out Think, Out Market and Out Sell your competition

I wish you success in utilizing new media – but don’t throw out profitable advertising vehicles just because they are traditional….

A Guerilla Marketers Ideas on Business Investments – Part 2

In my last blog I took a look at the dismal situation with regards to short term investments.  Unfortunately I have to give you some hard cruel facts before I give you some good news….

Now for the cruel hard facts:

The market has shrunk for almost every business.  For most niches in the marketplace, sales and revenue generated today cannot support the same number of businesses that could be supported a few short years ago.  The cruel reality is that not every business is going to make it through this recession.  So the question becomes who is going to fail – you or your competition?  The companies that make the right moves will survive and, as the economy turns back upward, will thrive.  Many of the companies that make the wrong moves will fold.  I wish it were different but these are the hard cruel facts.

So what are the right moves?  Again these are common sense ideas.  And I am going to ask that you suggest what is working for you too.

 

  1. Cut the fat.  But do not let the “bean counter” cut the quality of your products and services to the point where you do not deliver more value than your competition.
  2. Invest in technology that will make your company more competitive.  Are there ways to automate?  Can you outsource some things?  Are there suppliers you can use that utilize high tech processes that deliver products more cost effectively or have a benefit that gives you a unique advantage?
  3.  Invest in increasing cost effective marketing and advertising to expand your market share.  Often in a recession it costs more to acquire new clients.  The pie has shrunk.  Don’t “save” yourself into bankruptcy.  Make sure that if a business has to close it’s your competition and not you.   Expand your market share and you will reap large dividends when the market expands.
  4. Invest in your relationship with your current customers.  Did you know it is 3-4 times easier to sell an existing customer over developing a new one?  Communicate with your customers, understand them and give them helpful information.  Do you have a newsletter?  Do you send them personalized cards?  Do you have an e-mail system to communicate with them?  Did you know that there are ways to automate your e-mail communications?  Do you offer special workshop or events for clients?  Do you offer a special unadvertised sale just for existing customers?  Oh by the way, when your focus is developing and enhancing, your relationships do not subscribe to the ABC’s of selling (Always Be Closing).  If you sell hard, here people will stop reading (never forget that a prospect’s attention is the most valuable thing in marketing today. You’ve got your customer base – now be smart enough to keep it).  A good rule of thumb is making sure the information you deliver is helpful and wanted. Make sure the information enhances your relationship and does not detract or hurt it.  Then when you do sell them, treat them like gold – because they are!  When you have exceeded their expectation and “wowed” them ask them for referrals – over time you will get them.
  5. Analyze your product to see which ones are most salable in a recession.  Which ones are people happy to give you their hard earned money for?  IE:  In this market selling recreational vehicles is much tougher that it was 5 years ago.  The market crashed and gas prices are up….  some people are still buying RV’s, just not nearly as many…. On the other hand smart phones sales are up.  People can conduct business from anywhere and access the internet.  Psychologically, they really may want to have the latest toys but they can rationalize that it makes them more productive (which it can) and sales are skyrocketing….   The moral of the story – focus on the products people will buy in this market.
  6. Do you have a product or service with little or no competition?  If you do, and it is salable, this is a great place to focus some resources.  Years ago I had a DJ business on the side.  Mobile DJ’s were new (yes we did use dinosaur teeth as a stylusJ)…  The yellow pages had just created the heading of Disc Jockeys – you previously had to look under Entertainers.  I chose the new heading – I wanted people who knew that they wanted a DJ and not a band.  Only one other person did this.  I almost doubled my business with a very small ad….
  7. Is there a competitor or another business that you can partner with and have them send you leads for products or services that they do not provide but that can help their clients?  Offer them and finder’s fee or commission (if it is legal in your profession) – it is often much less expensive than the cost of finding these prospects on your own.
  8. Understand and be able to communicate your unique value proposition.  Many marketers talk about your unique sale proposition or USP.  I have always believed it is all about value.  When the customer understands how and why you deliver more value to them (and they want or need what you offer) the sale becomes very easy.  Who doesn’t want more value?
  9. Learn how to employ effective marketing and advertising techniques in the new economy and with new media.  Optimize your website, utilize cost effective “pay per click” campaigns, cost-effectively employ social media and create videos for your website and social media.  However – let the market tell you which traditional media and which new media gives you the best return on your investment (ROI).  A few weeks ago, I was in a meeting of local business people.  A person held up a magazine type of media and said that traditional media are dead and that everyone uses the internet and social media.  New media may be growing but the person was holding a publication with hundreds of advertisers in it….  Would all of them go in it time and time again without getting a return on their investment?  My rule of thumb for all small businesses is follow the profits.  I don’t care if you are on Facebook, the Internet, the Yellow Pages, the Pennysaver, a magazine, a Super Bowl ad or on the back of a used napkin.  If the media cost-effectively delivers prospects from your Sweet Spot (most profitable customers), then use it!  Don’t be married to any one media.  Don’t jump on a media because it is sexy and has a lot of status.  Don’t avoid media that people say are “old fashioned” and boring.  Be married to results measured by ROI.  Track and analyze which media deliver your best niches most cost-effectively with the highest ROI and follow the profits!
  10. When reviewing media, check out how many of your competitors use it and for how long they have.  Then, if you can, check out if they are buying more or less of it.  If the media had a lot of advertisers and their spend keeps trending up – it is a media that most likely works for your type of business.
  11. Get interns.  College students know that having job experience will put them in a better light upon graduation than applicants with no experience.  If you offer an internship, even if it is unpaid, they will get much need job experience and you can get more done without a large investment.

What are your ideas on the best investments a business can make in these tough times?  I could add more but I want to open it up and hear what is working for you.

If you have an investment that is helping your business grow – please share it.  I bet we can get this list to be a growing and living document that helps all to grow and thrive in these difficult times.

You might want to check out my website for some information on Guerrilla Marketing and other cost effective advertising and marketing ideas…

www.acceleratedadvertising.com

 

Here’s to a profitable future!

A Guerilla Marketers Ideas on Business Investments Part 1

The million dollar question of the day is where to invest your money to maximize your return this year?  Let’s look at a few places that may or may not make sense.  Traditionally, people invest in a few tried and true places such as: the stock market, treasury notes, real estate, the money market, savings accounts, Certificates of Deposit and gold (precious metals).  I am not an economist, nor am I a financial planner, but common sense says that each one of these offers has an inherent problem.  If you are a business owner, I am going to offer you some ideas that I believe can help you survive the current recession and then thrive as the economy rebounds.  Let’s take a look at each of the traditional places people invest their money and then my ideas for business.

Before I start, I’m sure there are a few stock brokers asking what gives a marketing and advertising guy the right to talk about investments?   I promise you that any talented investment counselor can talk circles around me when it comes to sophisticated investment tools.  I will also say that I am going to put forth a few ideas with the intention of opening up a conversation, with others adding great ideas that they have found to be working…   However, I believe the common sense approach I am taking may just stimulate some business people to action and to grow their business.  The bottom line – there are no small businesses too large to let fail.  Large banks and large businesses got bail outs – we entrepreneurs and small business people are on our own….  Small business can be an engine for the recovery.  However, I will state some hard to hear facts and then some ideas I have that can help some businesses thrive while their competition starves. I hope I can inspire small business people to act on their own behalf and invest in growth….   But let’s look at the traditional place people put their money first.

The stock market is going through one of the most volatile time in its history.  I don’t need to tell anyone that it is not a place for the faint of heart right now…  I have monies in retirement accounts and I am sure that the markets will come through this challenge just like we have in the past… stronger, more and more competitive.   In the long term, I believe we will see growth that will provide a nice return.  However, most will agree that the short term is no bed of roses.

Treasury notes offer very little up-side in the short run.  The Fed just announced that interest rates are going to stay low until 2113.  Ten year treasury notes are paying 2.5%….  so T-notes most likely are not even going to keep up with inflation.  How about real estate?  Yes you can buy cheap.  Does the real estate market still have a bit more to drop?  I don’t know.  Should it do just fine in the long term?  I believe it will.  However, is it the place to invest short tern money?  I don’t think so.  How about the bank or a certificate of deposit?  Both of these are offing interest rates that are less than 1% so they are losing ground against inflation too.

This leaves gold and precious metals.  I bought a few ounces of gold and some investment silver coins about 20 years ago when gold was around $250 an ounce.  In hindsight I wish I bought ten times as much….  As I write this gold is over $1800 per ounce!  It is at an all-time high.  If you asked me if you should have bought at $1000 per ounce I would have said no (I sold some – shows what I know)….  Will it go higher – most likely it may still go higher.  If you buy at these rates you risk getting caught when the bubble bursts….  The old adage is buy low and sell high…. not buy high and hope that is goes even higher…  Gold has certainly out-performed most investment counselor’s expectations but there is a huge downside in buying high. If you want to play this game, I hope you win but don’t cry if you lose big time.

Stay Tuned for Part 2 in my next blog, where I will layout 10-12 ideas that can help now and will open the discussion so that everyone can have input.  The goal will be to let people share what is working and we can all help one another….

The Importance of Permission in New Media Marketing

master trainer and coach for Guerrilla Marekting International

The most valuable thing in marketing is a prospects attention.  Today we are bombarded by thousands of marketing messages a day.  So I ask you, is it better to barge in, capture someone’s attention and annoy them and have them have a negative feeling about us.  Or, is it wiser to get them to give us permission to communicate with them and give them something of value with each communication?  I am a Master Trainer with Jay Conrad Levinson’s Guerrilla Marketing International.  Here is what Jay and Seth Godin, a Guru on new media, have to say about the subject….

 

The Importance of Permission 

by Jay Conrad Levinson

Sometimes the student becomes the teacher. That’s exactly what happened to me when Seth Godin, co-author of three books with me, authored his own “Permission Marketing: Turning Strangers into Friends and Friends into Customers.” It changed my entire outlook about marketing and can dramatically change the beauty of your bottom line.

Seth, once a student of mine, has now enlightened me to the presence of two kinds of marketing in the world today. The first, most common, most expensive, most ineffective and most old-fashioned, is interruption marketing. That’s when marketing such as a TV commercial, radio spot, magazine or  newspaper ad, telemarketing call, or direct mail letter interrupts whatever you’re doing to state its message. Most people pay very little attention to it,  now more than ever because there is so much of it and because many minds now unconsciously filter it out.

The opposite of interruption marketing is the newest, least expensive, and most effective kind. It’s called permission marketing — because prospects give their permission for you to market to them.

It works like this. You offer your prospects an enticement to volunteer to pay attention to your marketing. The enticement may be a prize for playing a  game. It could be information prospects consider to be valuable. It might be a discount coupon. Perhaps it’s membership to a privileged group such as a frequent buyer club, a birthday club. Maybe it’s entry into a sweepstakes. And it might even take the form of an actual free gift. All you ask in return  is permission to market to these people. Nothing else.

Alas, you’ll have to use interruption marketing in order to secure that important permission. And you’ll have to track your costs like crazy, figuring how much it costs you to gain each permission — easily figured by analyzing your media costs divided by number of permissions granted.

Once you’ve embarked upon a permission marketing campaign, you can spend less time marketing to strangers and more time marketing to friends. You

can move your marketing from beyond mere reach and frequency and into the realm of trust.

Once you’ve obtained permission from your prospects, your marketing will take on three exciting characteristics. It will be anticipated, meaning people will actually look forward to hearing from you. It will be personal, meaning the messages are directly related to the prospect. And it will be relevant, meaning you know for sure that the marketing is about something in which the prospect is interested.

Permission marketing is not about share of market, not even about share of mind. Instead, it’s about share of wallet. You find as many new actual customers as you can, then extract the maximum value from each customer. You convert the largest number of prospects into customers, using your invaluable permission to accomplish this. You focus your marketing only on prospects and not on the world at large.

Let’s use an existing coed summer camp as an example of permission marketing in action. The camp uses interruption marketing to run ads at camp fairs and in magazines that feature other ads from summer camps. But the ads do not attempt to sell the summer camp. Instead, they focus solely upon motivating prospects to send for a video and a brochure, thereby securing their permission to accept your marketing with an open mind.

Once the prospects receive the video, they soon see that it, too, does not try to sell the camp. It is geared only to get permission to set up a meeting. But having seen a video of the camp facilities, activities, happy campers and attentive staff, the prospect is all set to say yes to a personal meeting. At the in-person meeting, the sale is closed. And once a camper attends the camp for one summer, chances are pretty darned good he or she will not only stay for several more summers, but also will bring along a brother, a sister, a cousin, a schoolmate or a friend — or all of these.

Notice that the only goal of each step is to expand permission for you to take another step rather than making the ultimate sale. Who uses permission marketing these days? Record clubs. Book clubs. Marketers who offer a free brochure. Even my own website at gmarketing.com offers a daily marketing message for only $3 per year — in affect, gaining permission to market to all those who sign up.

The biggest boon to permission marketing is the internet — but only by those who treat it as an interactive medium and not like TV. As clutter becomes worse, permission becomes more valuable. The moral: since only a limited number of companies within a market niche can secure permission, get moving on your own permission marketing program pronto.

 

COPYRIGHT 2011 GUERRILLA MARKETING INTERNATIONAL – ALL RIGHTS REVERVED

How and Why Tracking Your Advertising Is One Of the Best Investments You Can Make – Part 2

Learn to Compare One Media to Another and
You Will Make More Money In Less Time!

In the first part of this blog I spoke about how tracking your advertising and marketing programs is one of the best investments you can make.  I gave the example of how tracking can make your advertising and marketing a measurable scientific process rather than a shot in the dark or, as I said, throwing a dart with your eyes closed and hoping that you hit the bulls-eye.  The example was a simple straight forward one (click here if you would like to read it).  By tracking, the business person discovered that they were making $4.90 – $5.60 for every dollar they invested.  It was a straight forward advertising tracking situation and one that is easy to diagnose.   Here I am going to show you how to determine the best move when things are not so obvious….

What would you do if you had the following situation?

You are the same business as in Part 1 but have two advertising and marketing projects and want to figure out how to best spend your money….

PROJECT ONE (same as in Part 1):

Your direct advertising mail project costs $30,000 to mail every other month for a year (or $5,000 per mailing).  Once again the project produces a 0.5% return with a close rate of 30% and the average sale is $10,000 with a profit margin of 35%.  If we were mailing 5,000 pieces every other month, we would be generating 25 leads every other month.  The cost per lead is $200 ($5000/25 leads = $200 per lead) and we would be generating 7-8 new customers who would spend $70-$80,000 and produce $24,500 – $28,000 of profit every other month.  Without tracking, we would never know that the investment of $5,000 every other month is producing a return of $4.90-$5.60 for every dollar invested.

PROJET TWO:

You invest in a high-end publication that charges $2,500 per month for a full page in color.  It reaches the 50,000 most affluent people in their geographic area.  The publication is generating 10 leads per month or 0.02% return.  The average sale is $13,500 with the same close rate of 30% but with a 40% profit margin….  this vehicle is producing 3 new clients per month.  The cost per lead is $250 ($2,500/10 leads = $250 per lead).  On the surface, Project One is the winner because it delivers the most cost-effective leads…. until you drill to the bottom of the data.  Project Two does costs more per lead, however each job produces $13,500 in sales.  So let’s do the math.  This vehicle produces 3 leads every month and produces $40,500 in sales with a 40% profit margin or $16,200 in profit.  Project 2 produces $6.48 of profit for every dollar invested.

What do the numbers tell us?  In the above example Project Two produces 6 customers and $32,400 of profits.  Project One produces 7-8 customers and $24,500 – $28,000 in profits.  Most business people would want to choose Project Two as the winner and invest their money there.  However, if I was their marketing consultant or advertising coach,  I would tell them to continue with both if they could maintain their service and quality levels as they are generating between  490%- 648% returns on investment (ROI), and where can anyone get this type of return legally?

Tracking can even get more complex than this.   However, if you track your advertising and marketing spending quantitatively (the number of lead by the cost) and then you look at the numbers qualitatively (how much profit was generated divided by the cost) you are ahead of 99.9% of small businesses.  I hope these two blogs have helped peel away some of the mystery of how and why you should track your advertising and marketing investments.

Accelerated Advertising is located in Nanuet, NY and we primarily service Rockland County, Westchester Orange Counties, NYC and the Hudson Valley in NY, Paramus, Bergen County and Northern NJ as well as Stamford, Fairfield County and Southern Connecticut.  We also work with firms from around the country via on-line meetings, the internet and of course the telephone.  If we can help you, let us know.  We’d also love to hear your comments and feedback on the two parts of:  How and Why Tracking Your Advertising Is One Of the Best Investments You Can Make Parts 1 and 2…. Thanks & Happy Marketing!

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How & Why Tracking Your Advertising Is One Of The Best Investments You Can Make Part 1

Track Your Advertising and Marketing And
Get Your Business Where You Want It
Faster And For Less Ad Dollars!

 

The first reason you track your advertising and marketing is to determine your ROI (return on investment).  However, this is the beginning of tracking.  Once you have established the advertising and marketing vehicles that are producing your best returns both in numbers and in quality you have established benchmarks.  Benchmarks give us targets at which to aim similar efforts and against which to measure results.  Let’s say you have established that a certain direct mail project costs 30,000 to mail every other month for a year (or $5,000 per mailing).  Let’s say this projects targets your profitable niche markets (“sweet spot”) and produces a 0.5% return with a close rate of 30% and the average sale is $10,000 with a profit margin of 35%.  If we were mailing 5000 pieces every other month we would be generating 25 leads every other month and we would be generating 7-8 new customers who would spend $70-$80,000 and produce $24,500 – $28,000 of profit every other month.  Without tracking we would never know that the investment of $5000 every other month is producing a return of $4.90-$5.60 for every dollar invested. Without tracking $30,000 can become a big number to “save” because the accountant is always telling you to cut costs…  However if your accountant saw the data generated from tracking, he’d tell you that you need to continue and that you would be nuts not to.  Tracking gives you the tool to make advertising a measurable investment rather than “closing your eyes throwing the dart and hoping”.

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Stay tuned for Part 2 in this series