Saturday, October 21, 2023
I am a strong, enthusiastic advocate of Direct Marketing for most businesses, small or large. Direct Marketing consistently delivers the best results for every dollar spent. But let's talk a little bit about 3 Other Types of advertising, promotion and marketing – which may have their space – but are sold to you for the wrong reasons.
First, there is Institutional Advertising, and this type of advertising is often intentionally used by big corporations (and blindly copied by smaller ones). It essentially says to consumers and/or stockholders, “Here's who we are. Here's what we do. And we're nice guys.” But it never asks anybody to buy anything or to take any action. It's image building.
Some quick examples.
This is all pure institutional advertising.
Advertising agencies, consultants in the media love to sell you this type of advertising because there is no possible way to measure its effectiveness. Is it working? Is it paying for itself? Who knows!
The next, slightly more sensible approach is what I call Non-Measurable Response Advertising.
This type of advertising is trying to sell something, but is still basically unaccountable for its results. TV commercials for a particular brand of car fall into this category.
The intent of those commercials is to get you interested enough in that car to go to the showroom, but there's really no way to tell how many people who came to the showrooms this week were influenced by those commercials.
Would they have come anyway as a result of the dealer's own newspaper ads? Who knows!
Many smaller businesses get trapped using this type of advertising: appliance, clothing and department stores all run sale ads saying, “Here's what's on sale, come on in!”
But they have no means of determining how many people came because of the ads versus how many might have come anyway - or how many came from an ad in one media versus the same ad in another.
They can guess they can take this weekend's higher traffic, less last weekend's traffic and attribute the difference to the ads, but it gets worse if they advertise the sale via the newspaper, two radio stations and flyers.
How do you tell what works and what doesn't?
Again, ad agencies in the media like to sell this type of advertising because it's difficult for the advertiser to measure the results.
Another type of marketing is Public Relations and Publicity. There are firms who you can retain to prepare news releases and articles about your products or services and your company. They work at getting all this placed in various media.
These firms may also arrange interviews and talk show appearances. Although you can measure them by how much actual exposure they get for you, it's generally difficult to then measure how much business came from the exposure.
Also in this category is the sponsorship of everything from a little league team to an Indy 500 race car or a golf tournament.
All three of these types of marketing probably have some point and place in a business's total marketing plan. It is my firm belief, however, that these methods are grossly and deliberately oversold to clients by media and professionals because of their resistance to results measurement.
It is also my opinion that most businesses, the owners of small businesses and the executives of large companies stupidly waste large sums of money on these non-measurable marketing options.
I would much rather see money spent where the results can be definitively and accurately measured, so the changes can be made to develop successful response levels for every dollar spent. And to do that, you must use Direct Marketing - period.
So if you want to create a marketing system that not only converts but has your customers keep coming back – begging for more, you need the following systems:
Firstly, get this clear: Most businesses today are operating like it's the 20th century. They're playing a numbers game, casting wide nets hoping something—anything—works.
That's insanity.
In today's ruthless market, hope is not a strategy. Precision is.
The marketing landscape has shifted. Traditional methods? They're on life support.
And while everyone's scrambling, trying to find the 'next big thing,' the principles of Magnetic Marketing remain steadfast. If you're not applying them, you're leaving money on the table. Period.
To succeed in today's market, you can't be passive.
You need a system—a proven, time-tested system. That's what Magnetic Marketing is. So, don’t just dabble in it; embrace it, implement it, and watch your business transform." You can always learn more by trying out our NO BS Newsletter or access one of our training inside of our Diamond Membership.
Want a flood of new dream clients that beg to pay, stay, and refer… so you can watch your business explode in 2024!? Give us just 90 minutes a day, and over the 5-day sprint, we'll show you exactly how, for free!
Every online business is different, employing different strategic approaches and organizational structures, and offering different products and services. Therefore, individual results will vary from user to user. YOUR BUSINESS’ INDIVIDUAL RESULTS WILL VARY DEPENDING UPON A VARIETY OF FACTORS UNIQUE TO YOUR BUSINESS, INCLUDING BUT NOT LIMITED TO YOUR CONTENT, BUSINESS MODEL, AND PRODUCT AND SERVICE OFFERINGS.