Control Your Marketing Cost

Control Your Marketing Cost

“Half the money I spend on advertising is wasted:

the trouble is I don’t know which half.”

John Wanamaker 1938 - 1922, American Businessman,

Religious Leader, Civic and Political Figure   

   

As I see it. . . . . . . .

Control your marketing costs

A recent marketing study shows that nearly 70% of all marketing dollars are wasted.

Spending money on marketing and personal promotion can become a bottomless pit . . . . or become  an effective business tool. It’s not about how much money you spend on marketing . . . . it a matter of the effective use of your marketing dollars.

Seven steps to effective control your marketing dollars and maximize your results.

1. Identify your target market and determine the best methods to consistently reach your target audience.

2. Design your marketing to fit your target audience needs . . . . to create interest in your product and services.

3. Match your marketing message to your professional image . . . and target market.

4. Measure the results of your marketing against your goals . . . . and your marketing dollars spent.

5. Adjust and prune, continue to evaluate the results of your marketing adjust what needs to be adjusted . . . . and prune what no longer is working.

6. All of your marketing should have a call to action in the copy. Create the interest in the marketing message . . . . and a reason to contact you.

7. Narrowcasting is defining your target market of the most likely customers. Instead of trying to market to the world you narrowcast to a define target market.  This form of marketing can be described as being the big fish in a small pond. In being the big fish in a small pond it gives us the ability to deliver a consistent message to your target audience . . . . and tighter control on our marketing dollars.

Being the big fish a smaller pond you bring greater recognition to your marketing . . . . and to yourself as a professional. Over time with a consistent effort you will be seem as an expert in the market.

By focusing on a target market . . . . you are able to create a focused marketing program on a target market. Target market creates greater exposure and concentration which will evolve into greater personal and brand recognition.   

Nearly 70% of marketing dollars are wasted. That can be reversed by following the seven steps of effective marketing and focus your marketing on a target audience . . . .and by measuring the results.

©2014 Lou Ludwig Motivational Power Quote, Sales and Management Consultant, Success Coach, Speaker, Trainer and Author