For over 22 years, I’ve been meeting with business owners, marketing managers and advertising agencies all of whom are trying to find the magic formula for success. If there was one magic formula for success in advertising, every business would apply it and be successful.
The simple truth is that it is not one thing, rather a number of things that if ALL done correctly will astronomically increase the chance of your business being successful. These things can help increase sales, win elections, increase census numbers at healthcare facilities, etc. Below are just a handful of things to consider when trying to achieve your next goal:
Know Who Your Customers Are
a. Describe the person most likely to want or need your product.
- Why should they want to buy your product?
- When you know the motivation, you can target the product to the correct customer base.
- You can’t sell a product until it is defined and positioned.
Use A Two-Step Approach
a. Offer complimentary business related information to potential customers.
Step 1: Offer a free “fact sheet” to customers that shows your expertise.
Step 2: Add these customers to your mailing list and mail to them often.
Be Consistent And Committed
a. Research shows a message must be repeated to be remembered.
- Send multiple mailers to the same people.
- If you advertise, do it where you can afford to do it often.
Add Personality To Your Business
a. Use photos of you and/or your staff in your promotional materials.
- A quote from the person pictured conveys friendliness and builds confidence in your company.
- Responses to seminars and programs are dramatically higher when photos are used.
Do What The Winners Do
a. Is there a company you admire? Analyze its marketing strategies.
- Adopt the ones you can use and improve on them.
- Use what works. Collect advertising that attracts your attention and adapt it to your business.
I could go on and on but the point is that there is not one magic formula, rather a laundry list of things that need to work together like a well-oiled machine. As a business owner or manager, you study every aspect of your business from top to bottom trying to find ways to be more productive and profitable.
However, media placement is often the exception. As one of the most important elements to the success of your business, your media placement should be scrutinized to the penny on every invoice. Perception is reality and your business must be showcased in the best possible way, to the right target audience and to as many people in the target audience as possible with your budget. Therefore, ongoing qualitative and quantitative research must be composed to properly track audience trends. Audience measurement, like Nielsen, must be negotiated with vendors. (You can’t just accept what they give you.)
It is vital that whoever is placing your media truly understands the methodology for each medium or you’ll be paying too much per “spot” or “placement.” Someone needs to be monitoring your campaign in real time, ensuring that exact creative is airing at any given time. Someone needs to be reconciling invoices line by line to make sure that advertising is airing and placed exactly where it was ordered, that audience delivery exceeds what was negotiated and that vendors are held accountable for every dollar placed. You need to have someone protecting your advertising investment. Someone who will ALWAYS have your best interest in mind and will work continuously to increase the efficiency of your media placement. That’s what we do!