How to Win the Advertising and Promotion Game

I am certain that, as a business owner, you have often 
entertained the question as to how much to spend and where to 
spend your advertising dollars. For most small business owners, 
these questions can add to the headaches suffered in the course 
of normal everyday operations of their business.

THERE ARE NO SIMPLE ANSWERS

The how much to spend and where to spend it questions have no 
easy answers.

Depending on your type of business, many people suggest that the 
*how much* should be equal to anywhere from 4% to 10% of your 
gross receipts.

The quandary is that a business cannot survive without a fresh 
flow of incoming customers. But, a business can seldom generate 
a fresh stream of customers without spending money to get the 
word out about their business.

THE CHALLENGE OF DEVELOPING EFFECTIVE ADVERTISING

Have you ever paid for advertising and sat back to await the 
fresh flow of customers, only to find yourself sitting and 
sitting and then sitting some more?

Don't feel bad about that. It has happened to many of us before.

See, knowing where to spend the advertising money is not enough 
to get the job done.

Where to spend the money only begins to highlight the other 
issues connected with advertising:

· Marketing Plan
· Advertising Strategy
· Headlines, Ad Copy and Visual Presentation
· Tracking the Success of Your Advertising Campaigns

THE MARKETING PLAN

The Marketing Plan is used primarily to identify your own 
products and services, costs, strengths, weaknesses and the 
strengths and weaknesses of your competitors.

ADVERTISING STRATEGY

It is important to understand what you expect to gain from your 
advertising.

Do you simply wish to get your name known so that when your 
customer will need you, they will think of you first? Or, do you 
wish to get your customers in your front door on Saturday?

Do you want your customers to come in and take a look around to 
discover the next object that they cannot live without? Or, do 
you want them to come in and buy a specific widget?

Do you hope that enough people will come in to buy enough 
products or services to pay for your single ad? Or, do you 
expect to gain a lifelong customer who will help pay for your 
advertising over the course of several years?

When you know what you want, then you will better understand 
just how to do it.

HEADLINES, AD COPY AND VISUAL PRESENTATION

You might be surprised how many business owners put out 
advertising without regard for the quality of the sales pitch or 
presentation. The quality of your distribution outlet or the 
amount of money you spent to get there will do little for you if 
the advertising vehicle is a junker.

Test all of your advertising materials in smaller markets before 
blowing your advertising bank roll on it. You must absolutely 
know the value of your advertising before putting large sums of 
money behind it.

TRACKING THE SUCCESS OF YOUR ADVERTISING CAMPAIGNS

Tell your customers to save another 10% when they tell you they 
heard or saw your ad in such-and-such location. Suggest that 
they can register to win a free widget if they fill out a form 
and have them to tell you how they heard of your business. 
Advertise a specific widget in your ad and track the sales of 
that widget.

It does not matter how you track your advertising --- just make 
sure you do it!

IN SUMMARY

The ideal way to spend your advertising budget is to buy a rifle 
with a high-powered scope and to only shoot your targets in the 
light of day.

If you are not tracking your advertising, then you are shooting 
a pellet gun without an attached scope, with blinders on, and 
shooting in the dead darkness of night.

Even with a bigger gun, the blinders in the dark constitute the 
single largest mistake made by advertisers. If you are unable to 
track your advertising to learn what is working well, what is 
working somewhat, and what is a money pit, then you are 
condemned to repeat your mistakes over and again.

By relying only on gut instinct, you may be choosing to spend 
more money in the money pit and to lose all of your money in the 
process.

When you get down to the nuts and bolts of making money from 
your advertising, you should plan, prepare, track and study your 
results. You must have factual information on which to base your 
advertising decisions. When you are making the right advertising 
decisions, then making money from your business might just come 
easy.