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Focus Marketing Effort To Customer NeedsBy Nick Angeli Blind canvassing or taking the shotgun approach only works in certain industries where the potential customer base is undefined. Industries such as fast-food or many family-oriented restaurants and those that cater to wide range of consumers can often benefit from shotgun advertising. However, niche companies and those that are after a specific demographic rarely achieve success unless they conduct market specific marketing. It is considered the best use of the marketing budget by being aimed at the best customer. The return on the investment is the best measure of the marketing effort as well as how many new sales or repeat sales are generated by the fewest dollars. In many areas of advertising it is a numbers game and the more people who see the ad, the better chance there is of making a sale. However, smart business owners look at the return on their advertising investment to determine the meaning of a successful campaign. For example, by sending out 10,000 ads to a generalized area, there may be only 100 responses. Of that 100, one turns into a customer. Although the 10,000 ads only cost you about $100, that translates into $100 per new customer. Targeted ads, historically return four times as many respondents with a fourth of the effort. This translates into 2,500 ads going out with 100 respondents with four turning into customers. With A $50 charge, this translates into $12.50 for the new customer, a significantly higher return on the investment. While the numbers will vary based on the type of product or service being offered and the quality of the ad going out, it is representative of the difference in the approaches taken in advertising. If you have every stopped at a roadside travel center along an interstate highway, you have probably seen volumes of advertising about travel spots. Tourist attractions and vacation information can fills racks at these centers because they are geared towards the traveler. There is a reason these same brochures are not handed out in elementary schools: they miss the primary target. Being able to target the marketing effort will take research to determine the location of the most people that can use the information you have to offer. However, once you find the potential customers and send them the right message about your company, you can be prepared for a much bigger return on your investment. About the author Nick Angeli is a professional internet marketer who specializes in teaching others how to be successful with internet marketing. If you want to get in touch with Nick or learn more about network marketing success please visit: MyHomeBizLife.com |
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