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A few years ago, I analyzed the statistics of where one of my clients, M & M Pest Control in Sydney, generated all their leads from. As a result of this, Ray Milton, the director of the company said:
"Scott measured the results we were getting from our advertising, and as a result, this confirmed my decision to eliminate over $42,000.00 in unnecessary expenses - because it wasn't paying it's way"
$42,000 is a lot of money? in anyone's language!
What did I do? I simply analyzed his advertising expenses? and identified whether or not the ads were generating a strong yield for his investment.
And I'm willing to bet you could do the same for your business.
Right now, you're probably thinking... in the words of Pauline Hanson...
Listen. I've met with hundreds of businesses that advertise in the Yellow Pages. And most of the time, I ask them "What return on investment do you receive as a result of your advertisement?"
To which 9 times out of 10, the answer is as good as a blank stare!
How much money are they burning? Investing $20,000 on an ad (or $1,000 or $5,000, or $100,000 - the same principle applies) and not even know what their returns are!
Would you hire a salesperson and not 'give a toss' about how much income he was generating.
No! No! No!
So why on earth would you do it with your advertising dollar?
Some people say it's too hard. Their staff won't find out for them. My advice. Fire those staff, because they are costing you BIG money!
Listen, all you need to do is:
1.Code all your ads with a reference code to identify the source of the inquiry
2.Train your staff to ask one simple question: "Where did you hear about us?"
3.Enter the details into your computer.
4.Analyse the statistics.
And you need to be as specific as possible. One of my clients, a spit-roast caterer in Sydney measured the results of a series of ads in the local yellow pages directory. You know what he discovered? Only one of the directories was generating a strong return on investment - the rest were losing money!
Priceless knowledge. And in the world of advertising?
KNOWLEDGE IS POWER
So unless you want to be like John Wannamaker, the 'father of the modern department store' who once said "I know that half of my advertising is wasted, I just don't know which half it is" then grab the bull by the horns and start measuring the results of every ad you run? right now!
Yours in profits,
Copywriting That SELLS
Visit my web site for your complimentary copy of my ebook (valued at $29.95) and free subscription to my valuable ezine "Copywriting Selling Secrets" where you'll discover how to write ads and sales letters that make people line up and practically beg you to take their money.
Here's the address: http://www.copywritingthatsells.com.au
The Advertising Equation Isn't Broken, It's Incomplete
Forbes Agency Council PR, media strategy, creative & advertising execs share trends & tips Opinions expressed by Forbes Contributors are their own. Post written by. Jonathan David Lewis. Jonathan David Lewis is a partner and strategy director at McKee ...
Amazon Has a Plan to Become Profitable. It's Advertising | Digital ...
The ad money going to Amazon is often coming from budgets once directed to TV or offline retail promotions.
Amazon has a plan to become profitable. It's called advertising ...
For more than two decades, Amazon.com Inc. chief Jeff Bezos has famously sacrificed profit for growth. Now along comes a business that could generate consistent and healthy returns: advertising.
Amazon Uses Advertising to Become More Profitable | Fortune
Amazon has a plan to become profitable: advertising
Amazon strategy to generate profits through advertising
Wall Street Journal
Advertising's 'Mad Men' Bristle at the Digital Revolution
Wall Street Journal
One of the world's biggest ad agencies, Publicis Groupe SA, PUBGY 1.14% fully felt the disruptive power of advertising's digital revolution when McDonald's Corp. , a huge client, put its account into play. The fast-food chain wanted a marketing plan ...
LOOK: The NFL is already advertising a Patriots vs. Vikings Super Bowl
If you're a Jacksonville Jaguars or Philadelphia Eagles fan and just so happen to buy into NFL conspiracies, now is the time to get scared. Two days before the conference championship games kick off, the NFL's official Facebook page has already started ...
Something doesn't ad up about America's advertising market
IMAGINE a world in which you are manipulated by intelligent advertisements from dusk until dawn. Your phone and TV screens flash constantly with commercials that know your desires before you imagine them. Driverless cars bombard you with personalised ...
Virginia business removes post advertising Tide Pod-themed doughnuts after backlash
SUFFOLK, Va. – A Suffolk business removed a Facebook post advertising Tide Pod-themed doughnuts after receiving criticism online. A WTKR viewer sent a screenshot of the post by O'doodleDoo's Donuts before it was taken down: The doughnuts had frosting ...
Canada's strict branding and advertising rules will try to take fun out of legal weed
“You've got no advertising, you have plain packaging, how are you going to differentiate yourself and grow your market?” said Levine, whose company manages C$650 million. Officials say their goal is to squeeze out criminal dealers, not encourage more ...
South China Morning Post
Rampant click fraud on China's internet hurts digital advertisers
South China Morning Post
Retail giants like P&G and Unilever invest billions of dollars a year in advertising on China's digital media platforms in the hopes of reaching the country's 1.4 billion consumers, but one in three “hits” are generated by banks of mobile phones ...
York School Committee weighs boosters' advertising plan
YORK, Maine -- The York High School Athletic Boosters came before the School Committee this week for the second time with its proposal to raise funds by placing business-sponsored banners in the gym and along the fence at various school fields. Under ...
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