By Norton E. Warner

The following is an excerpt from the book David Can Still Beat Goliath, by Norton E. Warner:

Most advertisers see all ad media as performing the same function: getting the word out. The goal of most advertisers is to reach as many people as possible, believing that the medium chosen makes little or no difference as long as money is being spent on advertising. Such assumptions and practices produce nothing but ineffective advertising and wasteful spending. All advertising media can be effective, but they work differently and perform distinct functions. A common mistake is to develop a budget and then spend it on advertising without any thought as to which medium offers the best solutions for advertising and promotional needs. Many enterprises assume that the longer the list of media used, the more people they reach and the more effective the campaign. Quite the opposite. Even the most prosperous companies have budget limitations. Buying a little advertising from every sales rep who calls on you is a waste of your advertising budget. Concentration of budget on the best ad medium for you is critical to making advertising work for you.

Norton is the author and creator of Marketing Firepower. Five decades helping businesses develop strategies, create campaigns, identify and target the most profitable customer and proper budgeting advice have all contributed to the Marketing Firepower information. Norton created Marketing Firepower to make his experience and success strategies available to businesses around the world.

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Tags: concentrate and sell, david can still beat goliath, advertising, media, marketing, budget

By Norton E. Warner

Maintaining or increasing the advertising budget in a recessionary economy is essential to the long-term health of any enterprise. During an economic downturn or recession, most advertisers cut their budgets drastically. The two reasons heard most often are:

"People do not have the money, so our advertising would be wasted."

We can afford to cut our advertising because our competitors are cutting theirs." I have discovered a principle of personal or entrepreneurial success that seems to prove itself again and again. If you would succeed, observe what everyone else is doing and do the opposite. This seems to be true for advertising budgets in recessionary periods.

Nariman K Dhalla, in an article titled "Advertising as an Antirecession Tool" published in the Harvard Business Review, said, "Rather than wait for business to return to normal, top executives should cash in on the opportunity that the rival companies are creating for them. The company courageous enough to stay in and fight when everyone else is playing safe can bring about a dramatic change in market position."

Malcolm Moses, of Malcolm Moses & Associates of Boston, wrote in Boardroom Reports in the article "Recession Wisdom for Marketers,""Get more leverage from the advertising budget. Don't drastically reduce it. Companies that keep an advertising presence emerge from recession faster and stronger."

Norton is the author and creator of Marketing Firepower. Five decades helping businesses develop strategies, create campaigns, identify and target the most profitable customer and proper budgeting advice have all contributed to the Marketing Firepower information. Norton created Marketing Firepower to make his experience and success strategies available to businesses around the world.

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Tags: recession, marketing, advertising, budget

By Jeff Dostal

I've been traveling quite a bit lately visiting with small businesses across the country. There is a common theme shared by the majority. When I ask the question, "Why should I spend my money with your company versus the competition?" I receive an interesting reply...silence. It's a bit scary the number of businesses that don't have a solid reply to this simple question. Do you?

One of the reasons we created what we call the Value Story Discovery process is because, as a business owner, you are too close to your business to know and understand the real value(s) of doing business with you. To put it bluntly, you just don't know why customers spend their money with you.

When we conduct a Value Story Discovery for a company, they are amazed at how the things they didn't feel were important are often the main reasons folks choose to do business with them.

If you'd like to know how a Value Story Discovery could dramatically improve the way you market and advertise your business, give me a call or email me. I'd be happy to answer any questions you might have.

Jeff is President of Marketing Firepower and an experienced marketing professional. He has helped many business become successful through the effective use of advertising.

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Tags: advertising, marketing, money, budget, Value Story Discovery