Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Business » Marketing & Promotion » Article
 

Avoiding Marketing Money Pits




By Amy Dube

Is your business bombarded by sales and other marketing professionals telling you that the products or services they are offering are in the best interest of effective and cost reducing methods to market your organization? Finding your way through the maze of offers, opportunities and avoiding potential money pits highlights the importance for all businesses regardless of size to have a strategic marketing plan that is implemented and followed.

It is a tough market place for any small business and information is the key to making wise marketing decisions and for the survival of any business or organization. The relevance of a strategic marketing plan can not be under stated. It is unfortunate but all to common that people under the disguise of professionals in marketing and sales will boast their products and services as the most effective and cost reducing methods to market your business. Additionally, by writing articles or giving lectures for example, they attempt to give their claims a form of legitimacy. Beware of people making extraordinary claims, a true professional wants to sell you their product or service but also retains the integrity to learn your business and knows when the product or service is not a good fit. The benefit for this type of sales or marketing professional is your loyalty and trust in future business transactions.

A strategic marketing plan helps a business to avoid potential money pits that waste valuable marketing dollars in expenditures that may appear to cost less but have minimal or no measurable results. Simply because something may cost less and other businesses are participating does not make it a solid marketing decision for your organization and certainly does not guarantee successful results. Regardless of the ticket price if it does not produce measurable results and drive business to your establishment it is a money pit.

There are many good examples on the internet of people under the disguise of professionals boasting their products or services as sound marketing advice. One of these claims is that a business could inexpensively build brand recognition through the purchase of low cost promotional items with the organizations name or logo embossed on them; items such as pens, tablets, calendars, magnets, and much more. The problem is that this technique offers minimal to no measurable success in brand building, but more importantly does nothing to draw new customers into the business.

In terms of simple math, if an advertising business were to spend the same money that would be spent on embossed promotional items in traditional media channels such as print, radio, or television for example with an expected 2% rate of return and a minimal exposure of 12,000 individuals gives the advertising business the opportunity for 240 customers for that expenditure. If only 30% of the 2% actually make a purchase that provides the business with 72 new transactions. A business can multiply its average transaction price by 72 to see the real potential income from this one marketing expenditure. Another benefit is brand awareness that would be gained through the advertisement and the opportunity to build customers for life. Furthermore, to entice repeat business and brand loyalty the organization can offer its customers coupons. This method promotes customer appreciation and can be a low cost marketing method.

Moreover, with any marketing expenditure a business should always perform a cost benefit analysis in correlation with its strategic marketing plan. Simply, if it does not offer measurable results, drive new business, and build brand awareness it is a money pit.
 
 
About the Author
Amy Dube has over 16 years of sales experience and currently works in advertising for a major publishing company.For more free Articles and Marketing Tips go to http://adube.info

Article Source: http://www.simplysearch4it.com/article/34076.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/34076.html" as shown above and make it hyperlinked.



  
  Recent Articles
The Affiliate Marketing Network Advantage
by Laurie Raphael

Marketing your business online
by Candy Steele

Public Relations
by Ismael D. Tabije

Thirteen Step Action Plan For Everyone, That Needs More Business Now.
by Paul Douglas

Article Marketing & List Building: How to Promote Your Ezine & Build Your Own Hyper-Responsive List
by Eric Gruber

How To Build An Opt In List And Your Business
by Dencho Denchev

4 color printing in business cards and posters; You cannot have it any other way
by Florie Lyn Masarate

Plumbing marketing approaches that make your business work with a profit
by Ken Wilson

Builders projects in India
by yaken schecher

What You Should Know To Build Your Affiliate Web Site
by Laurie Raphael

Professional Logo Design: The Foundation To A Powerful Brand
by Alfred Anderson

Equipment, cost and communication; What good printers are made of
by Florie Lyn Masarate

Marketing
by Ismael D. Tabije

Article Marketing Return on Investment: How To Determine Your Article Marketing Success
by Dan Janal

How to Procure Innovative Internet Marketing Ideas
by Keith Deveau

What your business will never do without
by Florie Lyn Masarate

Presentation Folders for Corporate Marketing
by Charmaine Joy

The Essence of Calendar Printing
by Charmaine Joy

Can't connect to database