Monday, April 16, 2012
One of the worst mistakes made in advertising is spreading your budget too thin. Nothing makes me cringe more than hearing "we're on TV, Radio, Cable, we have Billboards and we have to be in the Yellow Pages, I just don't know what's working?" I'll give you a hint... Nothing is working. Why? You don't have a FOCUS. What you have is money peppered all over the place in an effort to reach everyone while sadly not really reaching anyone at all. Sure, you may be seen here and there, but effective advertising requires much more than being everywhere. You have to find your focus. It begins with knowing your customer, who is really making the buying decision? Then knowing where to reach them and investing in those areas specifically. "But, I have to be in these areas". No you don't! What you have to do is narrow your spending and focus, focus, focus! Get the most out your advertising dollars at all times by centering in on what will be the most effective to reach your customer. It's not about being everywhere, it's about being perceived as being everywhere by investing your ad dollars with FOCUS! Great example, just this week we met with an advertiser who is promoting all of the great things available from their business. It's a long list. The trouble is the list is more about them than the consumer. After some discussion it became evident that they have a fantastic offer to make that is built in to how they do business. This business essentially gives away more than $100K every week to customers. Would that get your attention? Now if they simply FOCUS their ads solely on this fact they will see an immediate response. Yes, they must let go of the "something for everyone" list and focus on what will get buyers moving. It's a game changer. There is something within your business model that can create BIG results. Find it and FOCUS on it. This requires making some tough decisions, but once you make the commitment you can expect a jolt of profitable results for your business. For more information contact Cory Bowler, Local Sales Manager for KLTV, at (903) 510-7710 or e-mail me at firstname.lastname@example.org
Advertising is not just about where you are seen, it's more about creating ownership. I'm going to own this medium, this time period and my message in the minds of the consumers. Everyone has a small list of providers they think of for any given product. Your goal should be to OWN that real estate in the mind of every potential buyer by what you say and where it is seen. If your competitor owns a piece of the market than you MUST create a Hot Spot in the mind of the consumer. If they own price then you own something else in order to compete. If they have more money to spend than you narrow what you own. Great example... McDonald's owns the fast food Dollar Menu,
Friday, March 30, 2012
Every great General in history is deemed great because they had a plan. Wars are won in the strategic planning first. The soldiers have to execute, but the strategy dictates the outcome. General George Washington once noted, "we are short on men, low on weapons and quickly running out of time... But we have a plan." Some would say Washington was a Military Mastermind, others could argue he was also very lucky. Either way, he developed a strategy based on his resources and he never wavered. The same mentality can and should be applied to marketing your business. In fact it is crucial in how you market your brand and your products. Strategy is everything! If you are wasting dollars on more ads for less money, or excusing yourself because you got a "Great Deal", that is not ringing your register, (but everyone you know thinks it looks good) then you are not practicing strategy. You are throwing money at the wall and hoping it sticks. The good news for you is every once in awhile... it will. So, if your business can stand to gain every once in awhile, knock yourself out. However, if you're looking for a Marketing Plan with guaranteed results then you MUST implement a winning game-plan. So how do you uncover the perfect strategy? Well, of course, every business is different so it all depends on your overall goal. That cannot be answered by saying "we want to make more profit"... Join the club. While that is the final result, you want to target how you can get there beyond advertising "We're here and we have GREAT SERVICE". Nothing less than great service is expected. What is it that you can offer the consumer. Remember you are not selling yourself. This is a "ME first" society, so you need to pin down what your most common customer looks like. Are they Male or Female? Young or Old? Do they call or come in more often? Does your business peak early in the week or on the weekends? Do you have an offer that they cannot refuse? What is your average purchase per visit? Can your customer research your product before they make a decision? Do they typically do so? What is my competition doing? Can I take some of their market share? Do you have an opportunity that is a WIN for the consumer without damaging your bottom line? Is that offer worth coming in to your business TODAY? All of these questions amongst a few others can and will lead you to a game changing strategy. To win the advertisins WAR you must have a game plan. Something that is Smart, Savvy and most of all Strategic. There are 3 things you can do right now to outline a successful game plan. If you would like to discover more on how you can strategically win the advertising war contact Cory Bowler, Local Sales Manager at KLTV. (903) 510-7710.