by David DiNatale, CEO
John Wanamaker, the father of US department stores, stated one day when asked about his advertising that, “Half the money I spend on advertising is wasted. The trouble is I don’t know which half!”
Here are 3 things you must be doing to succeed with your marketing dollars:
YOU MUST TRACK ALL YOUR ADVERTISING RESULTS!
“How is your advertising doing right now?” That is one of the first questions I ask a business owner when he or she comes to me for help. Unfortunately, 99% of the time when I dig for the answer…”I really don’t know” is the answer I get!
Here are some hard and fast rules you must live by when it comes to your advertising budget:
- Every dollar you spend on advertising must be tracked! First, you must create a culture in your business that encourages this! “That which gets measured can be improved”, must be your business mantra!
- Whoever answers your phone must ask every new lead or prospect, “How did you hear about us?” The answer to that question must be input into a database, spreadsheet, etc. Everywhere you are currently advertising should be listed.
- We have our clients use a trackable phone number that is unique to every ad. This way nothing is left to chance! Every call is tracked, the length of the call is noted, and you can even record every conversation to audit your results and determine if your leads are being taken care of properly. Having the ability to listen to how your potential clients are treated is usually an eye opener! Of course, you usually need therapy right afterward because you want to kill somebody! By knowing how many calls you receive from every ad, how many of those potential clients were converted into paying clients, you can now begin working on your conversion rate because “that which is measured can be improved!”
YOU MUST DEMAND A POSITIVE ROI FROM ALL YOUR ADVERTISING!
As a local business owner you cannot afford the luxury of brand advertising. Your marketing dollars cannot be spent on some cute little animal or reptile. With no clear message, no call to action, and ultimately no Return on Investment, you cannot track brand advertising results effectively. Every dollar
spent on advertising should yield a return of at least $1 – $1.10! This must be measured! Can you see how this changes your marketing budget! Think how this changes your approach to spending! Marketing must = Results!
If every dollar spent is tracked, you now know your cost per lead for each ad, and your cost per sale per ad…now we can market like no other competitor! You will discover what you have been wasting money on, what ads are working, and what ads yield the greatest return on your investment.
For example, If you are currently spending $400 a month to mail a Valpak to 10,000 homes and you got 8 leads and 2 sales, then your cost per lead was $50 (8 / 400 = $50), but if each sale is worth $150 to you, then you earned $300 on a $400 ad cost for a negative ROI!
However, with your GetOnTheMap.com Online Marketing Platform™ you invested $399 for the month. You received the same 8 leads at $50 each, but because these leads were more qualified, more targeted, they were actively searching for your product or service and discovered your website. They saw your offer and called you and 4 were converted into sales! This now gives you a $600 return (4 x $150) on a $399 marketing investment for a positive ROI!
Your ROI in this example is 150%! So, let me ask you, if you invest $399 and I immediately give you back $600…plus all future sales from those 4 new clients would you do that all day long? Wow! How much better is that! Now you are running your business and your marketing in an empowering way! No more marketing in the dark!
So when the next ad salesman knocks on your door and he or she cannot tell you what the average ROI is for a business like yours, simply say “No, Thank you!” Where to advertise is now an easy decision!
YOU MUST ADVERTISE WHERE YOUR POTENTIAL CLIENTS ARE!
Let me ask you a question…where are most of your potential clients to be found today? Are they reading paper newspapers or do they get their news online? Are they looking up a friend, a product or service in the yellow pages, thumbing through that big, thick, yellow book, or are they searching on their laptop, notepad, or smartphone?
With an Online Marketing Platform™ your potential clients will find you! $613 billion dollars was spent just last year on online advertising alone! There is a reason…it works when it is done right! We want to help you do it right! You need a dominating Online Marketing Platform™ because that is where your potential clients are searching for you. Give us a call! Check out our site and how we can help your business grow. We will do all the work for you! You can create a powerful online marketing solution for as little as $9.83 a day! Face it, you will never find the time to do all this work on your own…meanwhile, you are falling farther and farther behind! Let my team of marketing experts do it for you!