rewtwegrtor

It will take MORE communication

07/12/2019

　　Return is measured in dollars (or your local currency). It can provide buyers with the feeling of stability within your company and can give you an opportunity to dominate the advertising medium.

　　I dont care about my advertising quality so Ill do it myself, I guess to save a couple of bucks: This is a very common mistake. Finding the quantity formula that will get you the response required to make an impact on your bottom line is where your success lies. Lets say you spend $2,000 to get out a bulk mailing of 5,000 pieces and you get 10 calls as a result. To me, that is foolhardy. PROMOTE!

　　. But of these 10 calls you close 6 and get immediate sales of $12,000.

　　I know from my experience that businesses cut their marketing budget first when times toughen economically. That experience taught me something.The media headlines say panic has ensued; it says businesses are holding onto their money thinking there wont be any left if they spend it all. I doubled that amount per month and my gross income doubled exactly 6 weeks later. So, where is the doom and gloom? If were not careful, well let the media purported panic realize itself in our heads and our businesses.

　　The same simple mathematics apply to any other marketing efforts: radio ads, press releases or articles in magazines, print ads, yellow pages, websites, etc. Doesnt look like much. Sales closes what marketing brings in as prospects to your business. Now my company mails out 120,000 postcards per week. Havent you made false assumptions based on an initial and unfortunate (for the other person) first impression? If you started receiving cheap fliers in the mail from NIKE, instead of seeing slick TV ads, wouldnt you think NIKE was in trouble? There is a reason larger corporations create professional-looking ads.

　　Data Smog states that the average American encountered 560 daily advertising messages in 1971. A recent study conducted by Penn State shows that The greater the proactive marketing of a firm during a recession, the better its market performance and business performance. Then I quickly realized that if I wanted to grow I had to send more.

　　You will need to spend money on advertising if you want your current situation to change. Budgeting for marketing is as necessary as the light bill or payroll. Youll gain the lions share of your market, because your competitors, who are no longer marketing, are not going to be your competitors anymore!

　　But for those of you who are not convinced, I have culled together the main reasons why you should NOT promote in a tough economy (not!). Lets look at just 2 statistics. Which is true the media hype or the economic panic? Lately, when I visit my favorite restaurants and stores, there are still LOTS of customers there. They thought theyd have to shut down it was so bad. (Thats means more than 2 million emails are sent every second.

　　Its a tough economy: We have thousands of businesses that are virtually unaffected by the current economic status because they continue to promote. It could add up to hundreds of thousands of dollars.

　　Advertising costs too much: When it comes to marketing cost, you need to determine your return on investment. Sounds scary? Well, try the contrarian theory. These economic times are demanding that you change in order to meet the challenge. In fact, the way I have maintained growth has been to put my marketing expenses before the light bill or even payroll. If everybody is cutting their marketing, beef yours up. The companies who focused on advertising also experienced continued growth past the period of economic uncertainty.

　　Money is really tight: That just means there will be less competition in the mailbox and every dollar you can spend will get better results. People will shop where they feel confident in that business businesses that are communicating (promoting) are sending the message out that they are here to stay.

　　I have never had to advertise: Times are different today people are bombarded with advertisements competing for customers. Theyve never promoted before it has always been word-of-mouth for them. By 1997 that number had increased to over 3,000 per day! That statistic today is significantly higher with advertising messages being sent via cell phones, pagers and wireless PDAs. When everybody is doing one thing (and despite the belief they are doing the right thing, the situation doesnt seem to be improving) do the opposite. Thats marketing ROI! And thats not even taking into account the future sales to those 6 new customers.

　　The Radicati Group estimated that the number of emails sent per day in 2008 to be around 210 billion. According to American Business Media, history has shown that companies who either steadily continued or aggressively increased their advertising efforts during times of economic uncertainty experienced overall growth of their business at the expense of the competition. Dont give in.

　　I used to send out 10,000 postcards a month.

　　Direct mail is a numbers game. Obviously you need to keep track of responses from each marketing campaign you do so that you can weed out unsuccessful campaigns and strengthen successful ones. The quality of your promotion is a reflection of your business so you want to represent yourself in a professional fashion. Avenues that are cost-effective and will create an immediate return on investment are:

　　Marketing drives income, not sales. ac motors Suppliers There is a reason we are expanding and it is NOT because we dont advertise. Advertising aggressively in an economic downturn can increase sales and market share over the competition. They ordered a postcard campaign as a last-ditch effort and before it even got done they started booking work.

　　It will take MORE communication, not less, in this tough economy. Companies that invest aggressively in marketing send a reassuring signal of confidence to concerned customers about their staying power and provide an incentive for customers to switch [suppliers] that they perceive as weak. The American economy needs you.