Spending Your Marketing Dollar
Some costs of marketing a product are not worth the ROI.
If you market your product to the wrong crowd, you will waste money.
So who is the wrong crowd?
If you are trying to sell boats to people who don’t go boating or fishing gear to people who don’t fish your marketing dollar is wasted. You can’t convert people. If they have an interest, they will search.
To send a person who doesn’t fish, a magazine, newsletter, brochure on fishing equipment is pointless, it will end up in the garbage. The person might even be annoyed by the intrusion. Send them an email and they flag it as SPAM. Not good if enough of those emails get flagged.
People will seek cures or fixes for a problem. Rarely will they spend money on preventing a problem they might have in the future. If the need for your product is presented in the media as a problem and people relate to the issue, then your product will become a solution to the problem. This is where you can sell something that otherwise sits on the shelf hoping someone comes up with the need.
***This can be tricky when it comes down to a problem versus a desire.***
Appeal to a person’s vanity will bring in better sales than a cure to a problem. Beauty products in particular in this case, “making your complexion soft as silk”.
Note: The fact a skin condition could be corrected, only appeals to those with a skin condition. If you have a cure for a skin condition, then position it as a solution to a problem.
To present a problem would turn off those only interested in the soft silky complexion. More want the beauty results, which equal more sales. Never offend the biggest group of buyers or you lose out on sales.
***With the above example; Who are you trying to reach with your product?***
Advertising should never be a guessing game.
This guess can cost far more than the product is worth and may bankrupt a company. It’s essential to test your marketing. Understand your ROI results can keep dollars in your pocket.
Humor doesn’t belong in your marketing platform. Save the humor for the comedy club on a Saturday night.
What do other companies use to advertise their products? Is your product similar? What are they leaving out you should add? Sometimes when you are so close to what you sell makes you unaware of what makes your product unique. Did your competition forget to mention something interesting the public doesn’t know?
Make claims about your product are enhanced by being specific with actual numbers. If you make a claim, be accurate or your reputation may suffer. Not good for any business. To get accurate numbers for your claims can be expensive if they need to be analyzed by a lab. But if you have already obtained figures about your product and the source, to use them in your advertising makes the claim more believable.