1) Use a Different Phone Number
This can be a very cost effective and straight forward method to evaluate your ads. All it takes is a phone call to your phone supplier and they will set you up with a new number that uses a separate ring tone when someone calls you.
The investment is usually around $12/month for a separate number on the same line. This way you can tell that anyone that calls that number is coming from your ad.
2) Use a Landing Page with a Unique URL
This can also be a very cost effective method for tracking your ads. By creating a separate landing page url for your ad, you can determine what type of response your ad is getting with consumers.
The key here is to have some sort of Website Traffic Analytics set up. We always recommend Google Analytics. It is free and easy to use. If you don’t know how to get that started, give us a call and we can help you.
3) Use a Survey or Questionnaire
This can be laboursome but can also offer the most insight into the effectiveness of your campaign as well as provide you with a chance to gather more information about your customers.
4) Use a Compelling, Unique Offer
This can work, but is not always the most effective. One thing is for sure, if anyone comes in asking for the offer, you know you are getting response. The key here is to test different offers over time and try to hone in the ones that bring the best response.
Once you have identified the top two offers, invest in a larger ad spend and drive traffic to your business.
Showing posts with label guelph. Show all posts
Showing posts with label guelph. Show all posts
Friday, May 14, 2010
Wednesday, February 3, 2010
Existing Demand vs. Latent Demand - Advertising in Guelph, Kitchener, & Waterloo
Making the distinction between existing demand and latent demand is very important when creating an advertisement. Existing demand is exactly that; people that already consume your product or service, whether it is from you or a competitor. Latent demand refers to consumers that have either decided not to spend their money on the product or service or do not understand why they need it.
From a marketing point of view, making this distinction is critical in ad creation. Speaking to someone who already consumes your type of offering means that we need them to come to you instead of someone else, or come back sooner than later. This means that the message needs to cater to that purpose. An offer or sale might work, a packaged offering might be an option, and other ideas can be explored.
If the ad is aimed towards latent demand, then we need to emphasize how your product or service will benefit the potential consumer. Showing people what life would be like with your product or service, and how it solves problems that they experience. The idea here is that we need to demonstrate why they need to spend money on your offering. Whereas existing demand does not need convincing, they need persuasion to come to you and not someone else.
Making the distinction between existing demand and latent demand is very important, so be sure to take it into consideration for all of your ad campaigns.
From a marketing point of view, making this distinction is critical in ad creation. Speaking to someone who already consumes your type of offering means that we need them to come to you instead of someone else, or come back sooner than later. This means that the message needs to cater to that purpose. An offer or sale might work, a packaged offering might be an option, and other ideas can be explored.
If the ad is aimed towards latent demand, then we need to emphasize how your product or service will benefit the potential consumer. Showing people what life would be like with your product or service, and how it solves problems that they experience. The idea here is that we need to demonstrate why they need to spend money on your offering. Whereas existing demand does not need convincing, they need persuasion to come to you and not someone else.
Making the distinction between existing demand and latent demand is very important, so be sure to take it into consideration for all of your ad campaigns.
Wednesday, December 23, 2009
The 4 P's of Marketing are out, the 4 C's are in.
4 C’s of Marketing.
Anyone who has ever taken a marketing course would know of the 4 P's of marketing...
Product, Place, Price, and Promotion. These four aspects were created in order to simplify how to sell a product or service. And for years it worked well, but times have changed and so have consumers.
Below is the 4 C's of Marketing and how they relate to the 4 P's.
1. Customer Value (Product) –
'Product' was based on what the seller offered, 'Customer Value' refers to how the product benefits from the buyer's point of view.
2. Cost to Customer (Price)–
'Price' was based on the price of the product or service, how it related to competition and cost, 'Cost to Consumer' refers to every and any cost incurred during the procurement of the product/service (shipping, time to get to the store, parking, gas, etc)
3. Convenience for the buyer (Place) –
'Place' referred to the location of where something would be sold, 'Convenience for the Buyer' refers to how easy it is to find information and purchase. With e-commerce available, catalog sales, delivery services, some businesses (like amazon.com) barely need a store or 'place' at all.
4. Communication (Promotion) –
'Promotion' referred to how one would tell a market about a product/service, 'Communication' is a dialog, a two way communication. Market research, social media, and formalized customer feedback gives businesses a chance to listen to their customers and begin to try and better understand their needs.
The idea here is that businesses have shifted or are shifting to a much more consumer focused orientation in order to maintain a viable business model and market products and services successfully. So, I ask you... do you know what your customers want? Have you asked them? or even better, do you give them a chance to tell you?
Anyone who has ever taken a marketing course would know of the 4 P's of marketing...
Product, Place, Price, and Promotion. These four aspects were created in order to simplify how to sell a product or service. And for years it worked well, but times have changed and so have consumers.
Below is the 4 C's of Marketing and how they relate to the 4 P's.
1. Customer Value (Product) –
'Product' was based on what the seller offered, 'Customer Value' refers to how the product benefits from the buyer's point of view.
2. Cost to Customer (Price)–
'Price' was based on the price of the product or service, how it related to competition and cost, 'Cost to Consumer' refers to every and any cost incurred during the procurement of the product/service (shipping, time to get to the store, parking, gas, etc)
3. Convenience for the buyer (Place) –
'Place' referred to the location of where something would be sold, 'Convenience for the Buyer' refers to how easy it is to find information and purchase. With e-commerce available, catalog sales, delivery services, some businesses (like amazon.com) barely need a store or 'place' at all.
4. Communication (Promotion) –
'Promotion' referred to how one would tell a market about a product/service, 'Communication' is a dialog, a two way communication. Market research, social media, and formalized customer feedback gives businesses a chance to listen to their customers and begin to try and better understand their needs.
The idea here is that businesses have shifted or are shifting to a much more consumer focused orientation in order to maintain a viable business model and market products and services successfully. So, I ask you... do you know what your customers want? Have you asked them? or even better, do you give them a chance to tell you?
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