Spending Your Marketing Dollars Effectively!
I am always amazed by the excuses I hear after Interview someone at WRPBiTV and the station offers then the opportunity to purchase their clip for $100. The advertisement ideas and marketing person in me thinks why not? I then think do they understand that having a clip with their contact information to use across social media such as Facebook and Twitter can generate more business? Do they understand that by having a clip that they can have something in their arsenal to send out to those who have inquired about their business? I have come to the conclusion that many people in business do not understand how to effectively use their marketing dollars and thus continue to struggle in business. This blog is intended to help you to make good business decisions that will help you to spend your marketing dollars effectively and to build your brand and increase your revenue. Instead of making excuses why you can not do something find out how you can and look at the effectiveness of the program you are investing in.
Your marketing dollars should create a funnel that brings more money into your business. I am often surprised by the so-called marketing expert who comes into The WRPBiTV Studios and espouse on how they are going to market you and when asked about buying the clip they say no. I immediately have to think would I want to hire that person as my marketing coach if they aren’t going to use a clip to market themselves. When one buys a clip and uses it effectively they can create the funnel of never-ending marketing dollars. In marketing today most of your audience will be reached by something in the audio-visual genre, most likely a video on you tube or posted on other social media sites. What better way to create credibility by being able to say here is a clip of me when I was on WRPBiTV? Having a clip of an appearance from a TV Show is one way to use your marketing dollars effectively.
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Over the years I have found that aligning yourself with community events such as Relay For Life to be a very effective way to spend your marketing dollars. If your company sponsors a team and pays $100 for the team registration and then your employees host fundraisers and come to Relay and set up a booth you gain exposure in the market place and you now begin to form relationships that will turn into business. Business will come to you because when that fellow relayer needs your product or service they are going to come to you before they go to a competitor because of the bond you share through your participation in Relay For Life. I personally participate and emcee The American Cancer Society Relay For Life of West Boca Raton. I have set up my fundraising page at http://main.acsevents.org/goto/jdogg1 and I have set up a great way for people to be effective with their marketing dollars. People can visit my site and make a donation and place their business name and their website in the comments section and in turn I will promote them across platforms such as this blog and on my social media platforms. Recently a representative from www.feelthehugs.com visited the site and made a donation and here they are being promoted in this blog.
Networking has become a buzz word of late however so many people are not doing it effectively and they are spending a lot of their marketing dollars ineffectively. The best way to use your marketing dollars effectively at a networking event is to see if the host has a sponsorship package that will allow you to get a list of all the attendees and a possibility to speak to the group. When you attend a networking event you want to remember you are not there to sell you are there to begin relationships that may lead to a sale. The key is to be able to measure your return on the investment. In my case if I am at the event to promote WRPBiTV the measure of my success is how many people did I book to be on my TV Show and when they appeared how many chose to purchase their clip. If I have 5 people appear on the show as a result of spending $15 and no one buys their clip the networking was not a success and I must find a better way to spend my marketing dollars.
Radio, TV, and Newspaper are still effective avenues to use when deciding how to effectively spend your marketing dollars. The key is to be able to know who they are reaching and how to measure your return on investment. If you do not have a tracking program you will not know what is working and what is not working.
If you want stacks of this you must spend your marketing dollars effectively. The last thing to cut is marketing because if people do not know who you are, what you do, and why they should do business with you then you go out of business.
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The adage of having boots on the ground is perhaps the best way to spend your marketing dollars. Hire people to represent you at events and around the community. Some businesses have been very successful in forming what they call a Street Team where representatives from the company separate from the sales team go out and share the company with everyone they can come in contact with. I often refer to this as a 3 feet rule where you speak to those who are within 3 feet of you. I have personally gone over to people I have heard speaking at Starbucks about a topic where I have a service that they may benefit from. I have had many tell me that I admired me for having the courage to interact with them. In many cases by using The 3 foot rule I have been able to secure clients, guest for my TV show, fans to attend a game I was announcing, and donations for Relay For Life. The key is to create an army of supporters that will share your business with others. It is time to start using your marketing dollars effectively and get those boots on the ground.
