Had a great conversation last night with a long time client. He went back to when we first started working together and told us that the best decision he made to grow his company was realizing he couldn’t do everything and he needed to find people he could trust to help him. He said that’s when he decided to partner with Marketing Firepower. Wow, that was awesome to hear!
Advertising
Tracking your ROI (solution revealed!)
So how do you know if the money and time you are investing in your marketing and advertising is working? It’s quite simple when you understand the purpose of your efforts. Advertising has one job and that is to communicate your message. What that message communicates determines if someone will come to your business, visit your site or give you a call. At this point, you still have not made the sale but advertising has done it’s job. Now you have to do the rest. So how to you know if your advertising efforts are working, do more people come in to your store than before? Do more people call? Do more people visit your website? It really is that simple. The problem, most companies don’t know how many people are connecting with them today so they won’t be able to know if that number goes up or down. Know your baseline and you will know if your advertising is working.
Tracking Your ROI!
There is not a business owner out there that does not want to know if the money they are investing in advertising is working or not. So what do they do to find out? Many will ask that infamous question, “How did you hear about us?”. I hate to break it to you but most of us don’t remember where we heard about a business. Aren’t you happy that we are simply there to buy something? The other common solution by small business is the infamous coupon. We rationalize that if the coupon comes back, our advertising is working. Really? All that worked was the offer. We just spent money to give someone a discount for our product or service. And let’s think like a consumer. Once we receive a product or service at a set price, have we not just created a value in our mind? Why would be come back at a later date and pay full price? You can judge if your advertising is working. You can create an ROI for your investment. Come back in a few days and I’ll share with you how. If you want to know right away, give me a call (402) 817-4864 or send me an email to jeff@marketingfirepower.info.
Do You Treat Them Right
February 11 | Advertising, Business, Customer Relations, Marketing, Marketing Bridge, News | JDostal
Over 65% of customers who leave a business say they do so because of a “perceived attitude of indifference”. They don’t think the company cares. Do you. Do you show your customers you value their business. How many companies offer special deals and one time opportunities to “new customers” leaving loyal customers out in the cold? Too many. Your first priority should be your current customers. If you need help understanding how to do that, give me a call. We’ll visit about a lot of ways that are free or very inexpensive.
Don’t Fall Into the Yellow Page trap!
A client we partner with has gone from investing over $100,000 a year in the yellow pages to just a few years ago to only $11,000 this coming year. They have taken the difference and become much more intrusive and effective with their advertising. This is just one of the many benefits of a partnership with us here at Marketing Firepower. It just might be the best marketing decision you’ll make.
Advertising and Marketing: What’s the Difference?
We often hear consumers and business owners alike confuse the terms “advertising” and “marketing.” How would you differentiate the two? I know I mistakenly mixed the terms for some time before learning the difference. It’s really quite simple once you know.
Longtime professor of advertising at Harvard University, Neil H. Borden, defined advertising as, “the chief means by which businesses communicate with the customers about their products or services to bring about an exchange.”
Professor Borden did not define advertising as “building store traffic” or “selling” merchandise or services. The keyword in the definition is “communicate.” Continue Reading
Norton’s Notes: Advertising: Investment or Expense?
May 1 | Advertising | NWarner
If a prospective customer enters your business and is greeted like royalty and made to feel important, and if she leaves having been treated as she feels she deserves, you are on your way to creating a lifelong customer and a positive center of influence. Clearly, the advertising that brought her to you was an investment.
If, on the other hand, she was attracted by your advertising but is met with indifference or even hostility, you’ve lost your investment in potential long term profits. If she is treated as if she is imposing on an employee who’s stocking shelves or having a personal conversation—and leaves feeling scorned or unappreciated—you’ve lost a potential lifelong customer who then becomes a negative center of influence. Your advertising becomes an expense and you have nothing to show for it. Continue Reading
Don’t Ass/u/me
Ever seen that one written on the chalkboard? (Chalkboard. Did I just give my age away?) In over 16 years of helping small business attract customers, I’ve yet to come across one that didn’t assume their customers knew more than they really did. I hope you are the exception to the rule, but I won’t assume you are.
There may be six very important reasons to do business with you. Your best customers may be aware of a few. The average consumer may not know any of them yet businesses go about their day assuming that consumers and customers know all the great reasons to do business with them. Here is my nugget of knowledge for today…they don’t! Continue Reading
None of Us Farm as Well as We Know How
The other day a restaurant owner and I were discussing the challenges he’s facing in these economic times. His food costs are up…utilities are up…health insurance for employees is always going up…taxes are higher, and on and on and on. Everything is headed up—except his sales volume.
The number of customers visiting his restaurant was down slightly. The average ticket was down, too. More and more moms and dads were splitting dinners to economize. Even sales in the bar were down. I guess that means people can’t even afford to “drown their sorrows.” What to do?
He did make some modifications to his menu which did, in fact, help. Then he freshened his advertising to reflect the new dinner entrees available for under $10.00. But even with the increase in traffic, receipts were still well short of where they needed to be. He sheepishly admitted that the thought had crossed his mind to cut back on his advertising efforts. Continue Reading
If You Knew How Little Others Thought About You…
If you knew how little others thought about you…you wouldn’t worry so much about what others think about you.
Related to our daily lives, the title is a good lesson in life. However, in relationship to your small business it should read…”If you knew how little others thought about you…you should worry.”
Clients over the years have told me how they located their business in a mall because of the tremendous traffic that would walk by. That’s what happened. The traffic walked right by.
Clients have told me how they had a prime location on a busy street because there were so many people driving by everyday. That’s what happened. The vehicles drove by right by.
The consumer is not thinking about you right now. They have a lot of things going on in their lives. It is your responsibility to not simply exist. It is your responsibility to grab that customer by the shoulders, look them in the eye and tell them exactly why they will benefit from doing business with you. If you don’t, who will? Continue Reading