Advertising can be a tricky thing. Knowing where to spend on advertising and how much to spend is extremely important in being able to grow one’s business and grow efficiently. Ever heard of the term ‘Growing Pains?’ Well, that phrase, to me, means that the only reason there are pains is because proper planning wasn’t carried out.
Its easy as a business owner to dump money into unnecessary forms of advertising when times are good, during the busier seasons. But problems or ‘growing pains’ arise when the slower seasons come and there is not as much money coming in….but there is still the same amount of money going out. Look at the economics, among other things, before making advertising decisions. If your business can sustain it during any stretch of the year, through slow times and good, then it may be time to do it.
At least 90% of your advertising should be directed at your past clients, database, specific farm area, etc. For example, you could be running a business that provides a service, lets say dry-cleaning. Focussing all marketing, or most of it, on maintaining contact with the past clients(by sending things like coupons or Christmas cards, maybe general phone calls to follow up with servicing) is critical. Think about it, the people most likely to use your service or product are the ones who have used it before. Why? Comfort zone. In this fast paced world, instead of taking time to look for a particular service, which most of us are too lazy or to do anyway, we go back to where we have been before because we know where to find it and we’ve used it before.
How many times have you gone back to the same DVD Rental store to rent a movie? How many times have you ordered pizza from the same place? How many times have you gone back to the same doctor? Advertising dollars should mostly go to past clients, database, specific farm areas, specific population demographic, period. Focus on one area, and your business will flourish.
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