Are you wasting money on marketing?
Marketing has never been so complicated so even experts can find they have wasted money.
A hundred years ago John Wanamaker who died in 1922 joked “Half the money I spend on advertising is wasted; the trouble is I don’t know which half”. And that was before there were so many means of promotion. The Trump presidential campaign spent most of its digital advertising budget on Facebook, but was obsessive about testing what worked. It tested more than 50,000 ad variations each day in an attempt to micro-target voters. It certainly worked but the average person doesn’t have that sort of budget so what can you do?
Well it’s all about getting your thinking right. Who are you targeting? What problems are you solving for them or which dreams are you fulfilling? How do you do it a special way, what is your niche? How can you make your product or service stand out, can you sell it in a different way? Think about how Uber or Amazon have revolutionised two very different markets.
Once you know who you need to communicate with, you can work out where they might see your messages. Once you know what you are doing for them and why you are different you can create strong messages. Now you can start your promotion.
If you just jump in you will waste money, and if you don’t test each element you will never know what is working and what isn’t. Just changing a word or the colour of a button to buy can radically impact results, so follow Trump and test; that way you won’t waste money on your marketing.