If you’re like most of my customers (and most of your customers), you’re probably taking a look at all of your expenses — including your marketing budget. A couple of years ago, perhaps, you could afford to spend money on things that might not work. Now, every dollar is precious.
In a time when belt-tightening is on everyone’s to-do list, here are five steps you can take to make sure your marketing dollars come back with friends attached:
1. Take a good, hard, look at your advertising copy. Does it give your prospects a good reason to contact you now? If not, you need to change it.
This is true even if your advertising used to work really well, because your customers’ problems may be different now than they were before. A good copywriter will help you focus your message on the things your prospects need today. Call me if you need one — I may know a guy.
2. If you need to cut back, reduce the number of places you advertise. Marketing guru Jim Doyle calls it the Principle of Focus: the smaller your budget, the tighter your focus needs to be. You may not be able to afford to talk to everyone — make sure that the people who hear or see your sales message hear or see it a lot.
3. EVERY SINGLE LEAD COUNTS. Make sure you have systems in place to convert every inquiry into a lead. This means that you get contact information from each one.
What actually happens when a customer responds to your ad? Your front line staff needs to know what you’re advertising, and what’s expected of them when the phone rings or someone walks in.
You are likely to be getting fewer leads than in the past, and each one has new reasons to hesitate. Have a plan in place to follow up on inquiries that don’t result in immediate sales — by phone, by email, by direct mail.
4. Test your systems. Don’t assume anything. Not long ago, I tried to call a jewelry store using the phone number on their web site. It was the wrong number, with two digits transposed. That little mistake may have cost them thousands of dollars.
5. Recognize that in an environment where consumers are hesitant and sales cycles are longer, consistency pays off.
There are two local car dealers who offer similar products at similar price points.
* Dealer One has been advertising on the same radio stations all year — three weeks a month, every month. Dealer Two has moved around from radio to TV to print and back again.
* Dealer One has been using the same overall theme with the same voices all year long. Dealer Two has had commercials written, produced and voiced by different people all over town.
* As the economic outlook got tougher this month, Dealer One stuck to his radio plan. Dealer Two launched a radio campaign, and then cancelled after a week.
* Dealer One is having a very good October.
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