11 Ways to Double Your Profits

#6 Advertising through Radio, TV, and Newspaper … does it still work?

Everywhere you look you see the newest, shiniest form of advertising and how it is going to change your world! No more cold calling… no more knocking on doors! The past is the past the future is now… wait, what? The truth of the matter is 80% of marketing fails (i.e., the 80/20 rule) … the good news is that 20% of marketing works. Digital marketing, Facebook, YouTube, and Instagram etc. ads work (and some won’t), and so can traditional forms of advertising like radio, TV, and even newspaper… so how do you determine what works best?

Where should I spend my marketing dollars?

                Getting the word out through mass media continues to be an effective marketing strategy, but you are so spoiled for choice these days that it blurs the lines on where to allocate your marketing dollars. We speak with business owners every day that tell us that “advertising doesn’t work”, yet millions of businesses continue to invest in all kinds of ads.

  So, who is correct? The answer is both… which is why it is imperative that you test and measure all of your ads. Include a coupon code, QR code, or a “mention this ad” offer in your ads so that you can track where new prospects and customers are coming from, and make sure you ask every new customer where they heard about you! Use different headlines, different offers and different pictures to see what works and what doesn’t. Then dump whatever isn’t working, and turn up the volume on what is.

Where do I start?

                Consult an expert. Working with local media outlets is sometimes an enlightening process because those organizations thrive on their understanding of demographic advertising. While a business owner may not see the overall picture, an advertising rep from a local radio station will. They can help to design and implement a successful advertising campaign tailored and pinpointed to the right people. And if the ads don’t succeed, the media organization fails, not you. Consequently, they have a vested interest in ensuring success. If you are on a tight budget, local trade journals or bulletins can be a cost-effective way to reach your target market.

Another affordable way to get the word out is through press releases… and you may be surprised how easy it is. Newspaper editors are always looking for a story, so find something newsworthy and contact your local paper about it. It could be something as simple as a change to your menu, new cars arriving at your dealership or a new satellite office that your law firm is opening. Write up the story for them so all they have to do is edit it and send it out, and you have a great chance of getting it published.

Regardless of which route you decide, diversifying your advertising remains an important component to any marketing plan, and having some traditional forms of advertising in your marketing portfolio can still be a viable option for many businesses.