By Norton E. Warner

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

John Wanamaker, the legendary Philadelphia retailer, said, “Fifty percent of my advertising does the job, 50 percent is wasted. The only problem is, I don’t know which 50 percent.” Much of the money spent on advertising is wasted. Businesses can ill afford to waste any of their advertising expenditures. There are many ways to waste advertising dollars. If the enterprise is properly conceived, fills a niche, and can attract and keep new customers, advertising can be a productive investment. If not, it’s just another expense - a waste of time and money.

Waste in advertising is everywhere, in every size business. Waste is often caused by advertisers who:

• Choose the wrong medium for their message.
  • Use the medium of choice incorrectly.
  • Target the wrong audience.
  • Fail to provide compelling reasons for customers to use their products or services.
  • Ask advertising to do something it cannot do.
  

Recognize wasteful advertising and avoid making the same mistakes. It will help you use advertising wisely. It cannot guarantee your campaign’s effectiveness, but it can put the odds in your favor.

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: John Wanamaker, wasteful spending, advertising, marketing