This post is part of the 📖 1-Page Marketing Plan series.
Today I am reading a new chapter REACHING PROSPECTS WITH ADVERTISING MEDIA of the book The 1-Page Marketing Plan written by Author, serial entrepreneur and rebellious marketer Allan Dib.
Yesterday, I read Enter the Conversation Already Going on in Your Prospect’s Mind from the CRAFTING YOUR MESSAGE chapter of the book.
Tomorrow, I am going to read a new section “EMAIL MARKETING” from the REACHING PROSPECTS WITH ADVERTISING MEDIA chapter. Look out for tomorrow’s article.
Chapter 3 Summary
Author, Allan Dib has a unique way of presenting the summary beginning of the chapter rather than at the end of the chapter.
Your advertising media is the most expensive component of your marketing, so it needs to be selected and managed carefully to ensure you get a good return on investment (ROI).
Here are the highlights covered in this chapter include:
- Why “getting your name out there” is a losing strategy
- How to get a good return on investment (ROI) when advertising
- The lifetime value of a customer and how this is split up between the “front end” and “back end”.
- The role that social media plays in your business
- How to effectively use email and postal mail as part of your media strategy
- How to protect your business from “a single point of failure.
Reaching prospects with Advertising Media
The ROI Game
John Wanamaker, one of the marketing greats, famously said: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.
With the new technology, now you have all the tools to track which of your marketing efforts are making money and which are duds.
We all have at our disposal the technology to quickly, easily and cheaply track advertising effectiveness.
Tools such as
- Toll-free numbers
- Website analytics
- Coupon codes
To know what’s losing and what’s winning, you need to be tracking and measuring. This is vital because the media is by far the most expensive component of your marketing spend.
Rather than “getting your name out there,” you’ll fare much better by concentrating on getting the name of your prospects in here.
“The entire goal of your ad is for your prospect to say, “Hey that’s for me.”” — Allan Dib
Lifetime value and customer acquisition cost are two of the key numbers you need to know to measure marketing effectiveness. The other statistics, like response rates and conversion rates, in themselves are useless.
Sometimes it makes sense to “go negative,” that is losing money on the front end because you know for certain you’ll make it up and more on the back end.
A successful marketing campaign has to get three vital elements right:
- Market (covered in Chapter 1): the target market you send your message to
- Message (covered in Chapter 2): the marketing message or offer you send
- Media (covered in this chapter): the vehicle that you use to send your message to your target market; for example, radio, direct mail, telemarketing, Internet, TV and so on.
You need to hit all three of these to have a successful campaign.
Is Social Media a Cure-All
“Social media, by definition, is a form of media—it’s not a strategy.” — Allan Dib
Do you know you can listen to this book on Amazon Audible for FREE?
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- Remember, what gets measured, gets managed.
- Be ruthless with your ad spend by cutting the losers and riding the winners.
- The entire goal of your ad is for your prospect to say, “Hey that’s for me.”
- The real profit is made on the “back end” through repeat purchases by existing customers.
- Try to build your own marketing assets like your website, blog, email lists and so on and then use the social media simply as a way to drive traffic to these assets.
The statistics, like response rates and conversion rates, in themselves, are useless. ROI is the only important component in your marketing.
You need to send the right message to the right target market, through the right media channel.
In this groundbreaking new book you’ll discover:
How to get new customers, clients or patients and how to make more profit from existing ones.
Why “big business” style marketing could kill your business and strategies that actually work for small and medium-sized businesses.
How to close sales without being pushy, needy, or obnoxious while turning the tables and having prospects begging you to take their money.
A simple step-by-step process for creating your own personalized marketing plan that is literally one page. Simply follow along and fill in each of the nine squares that make up your own 1-Page Marketing Plan.
How to annihilate competitors and make yourself the only logical choice.
How to get amazing results on a small budget using the secrets of direct response marketing.
How to charge high prices for your products and services and have customers actually thank you for it.
Author(s): Allan Dib
Part 13 of 36 in the 📖 1-Page Marketing Plan book series.