The most important way to advertise during this economy
Everybody is trying to steal recession proof your business but they are not giving you concrete things to do right now.
Here is the list.
1. Don’t stop marketing!
2. When you do buy advertising, make sure that you are using direct response techniques.
A brief example:
My new coaching client Stephanie participated in a “combo” special marketing program. First, Stephanie’s company sells beautiful high end handbags, in multiple colors and textures. A women’s dream! Check out her website at http://www.micis-boutique.com/.
Stephanie is really excited about what can happen with this program. It includes, an email blast to over 80,000, a full page ad on a digital magazine and a full page ad in the print magazine. Sounds like lots of exposure and she is waiting for her website to start sending orders!
So here is the prescription to make sure that this is going to work for her. Breaking the questions into 2 different categories.
1. Designing your site appropriately for fast loading.
2. Monitoring things – making sure that the website has your best deals ready for buyers
3. Adding a special urgency message to the website so that the people visiting will buy immediately
4. Capturing the data from those that are not ready to buy just yet, but want to come back and browse. Getting their information so that we can follow up with them.
5. Adding upsells to the check out and thank you pages to take advantage of the shoppers in a buying mode
6. Making sure the shipping package includes coupons and discounts for other services especially for the holidays
Knowing your numbers
7. Proper tracking codes on each media so that we know which media – the email, print magazine or the digital magazine worked the best
8. Knowing the numbers! How many bags do you need to sell to make your money back?
Advertising again? During these economic times, only proven strategies should be used. Only media that you have used before and experienced a high ROI – return on investment should be used. Most entrepreneurs are not using this method. They like to hear the phone ring, or they are looking at the increased traffic to their website. Look – you can not deposit the good feelings, the hunches or the traffic. Only money is allowed.
Well, Stephanie is a fast learner but had not considered the info above. Especially not how many bags you need to sell to make your investment back. This number is KEY.
When deciding advertising to purchase, run these numbers first. Advertising is only expensive when it does not work. As long as it works, it is the best way to get new lifelong customers. But if you don’t know the numbers, it is like running through the house with a butcher knife… very very dangerous.
Business Women of Color Coach!