Motivational Power Quote
Control Your Marketing Cost
"Half the money I spend on advertising is wasted:
the trouble is I don't know which half."
John Wanamaker, businessman
As I see it. . . . . . . .
Control your marketing costs
A recent marketing study shows that nearly 70% of all marketing dollars are wasted.
Spending money on marketing and personal promotion can become a bottomless pit or an effective business tool. It's not about how much money we spend on marketing it a matter of the effective use of our marketing dollars.
Seven steps to effective control your marketing dollars and to maximize your results.
1. Identify your target market and determine the best methods to consistently reach your target audience.
2. Design your marketing to fit your target audience needs and to create interest in your product and services.
3. Match your marketing message to your professional image and target market.
4. Measure the results of your marketing against your goals and your marketing dollars spent.
5. Adjust and prune, continue to evaluate the results of your marketing adjust what needs to be adjusted and prune what no longer is working.
6. All of your marketing should have a call to action in the copy. Create the interest in the marketing and a reason to contact you.
7. Narrowcasting is defining your target market of the most likely customers. Instead of trying to market to the world we narrowcast to a define target market. This form of marketing can be described as being the big fish in a small pond. In being the big fish in a small pond it gives us the ability to deliver a consistent message to our target audience and tighter control on our marketing dollars.
Being the big fish a smaller pond we bring greater recognition to our marketing and to our self as a professional. Over time with a consistent effort we will be seem as an expert in the market.
By focusing on a target market we are able to create a focused marketing program on a tight market creating greater exposure and concentration which will evolve into greater personal and brand recognition.
Nearly 70% of marketing dollars are wasted can be reversed by following the seven steps of effective marketing and focus our marketing on a target audience and by measuring the results .
©2011 Lou Ludwig, Sales and Management Consultant, Success Coach, Speaker, Trainer and Author
Comments (9)Subscribe to CommentsComment