Friday, October 9, 2009
Are You One Of The People Who Know Very Little About Advertising Leverage?
It Would Not Cost You A Penny To Learn More
If you want to get somewhere you have to know where you want to go and how to get there. Then never, never, never give up. -Norman Vincent Peale
Every mass media advertising strategy you implement could be leveraged to the power of n.
Unfortunately, most business people are not even aware of… or if they are, it’s too much work to implement, some very simple, basic strategies that can maximize the impact of their investment in each ad.
It’s easy to just develop an ad or have it developed, publish it and see what happens. It’s like fishing.
Ad agencies and people who sell advertising perpetuate the myth that “you can never know the results you will get, doing it frequently is the only way to know, at a minimum a few weeks”.
Advertising experts like Claude Hopkins totally disagree as you can learn from his classic book Scientific Advertising.
The reality is that a bad ad will perform as poorly on day 1 as it would on day 100. It means nothing to the ad agency but to you every time your ad appears, good or bad; you pay.
Here is what I mean, if you normally use the newspaper to advertise your products or services there are a number of ways to leverage i.e. stretch the value of your investment in the ad.
First, it is assumed that you do know the only way you can declare an ad is actually working is when it has either generated a pre determined sales volume, lead generation or inquiries.
Ads without measurements are best guesses in a market of infinite possibilities. It will not cost you a penny more to guess again.
That is the leverage. You can split test your ad i.e. develop two completely different versions and test in two different newspapers or even in the same paper; if they allow it.
Also the ads do not necessarily have to be completely different, you can test two different headlines, two different offers or different methods of contact.
Even if you think that your ad is working fine now, it will not cost you any more to test and keep on testing until you have maximized the response. And how would you know when that happens?
The only way is to measure every variation of the ad, measure it against exposure time, desired goals or sales volume.
If you work with an agency and they do not measure the results of your ad, find another and/or put some mechanism in place so that you can measure it. It’s your money leverage it.
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