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Advertise successfully on $50 week: Day 1

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Advertise successfully on $50 week: Day 1

  1. 1. How to AdvertiseSuccessfully on$50 per Week(Day 1)Kat Kailey, Kitsap Sun & Bainbridge IslanderKen Sethney, Marketing Coach/Ad GuyMike Cyger, BainbridgeIsland.com & Mag
  2. 2. Our Focus:How to generate a meaningful return on investment for as little as $50 per week.
  3. 3. Setting ExpectationsFour sessions, one hour each. 1. What is advertising? 2. Print ads 3. Digital ads 4. Hands-on workshop Attendance at sessions 1 - 3 is required to attend session 4.
  4. 4. Speaker Backgrounds● Kat - Kitsap Sun and Bainbridge Islander● Ken - Marketing Coach and Ad Guy● Mike - Bainbridge Island Magazine and BainbridgeIsland.com
  5. 5. Please introduce yourself.● Your name● Your business● What you do (in 15 seconds)● What do you want to get out of these sessions?
  6. 6. Introduction to Advertising. Effective advertising starts with a marketing strategy. (even solopreneurs need one)
  7. 7. Marketing = The 4 Ps Promotion = marketing communication = advertising + PR + coupons + biz cards + signs + SEO + paid search + ???
  8. 8. You want to be successful?You must be able to answerthese questions:● What problem do you solve? (pleasure delivered or pain relieved)● Who needs help solving that problem?● How much pain does the problem cause?● How much will they pay for a solution?
  9. 9. You want to be successful?But wait, theres more!!!● What are the best ways to to reach people willing and able to pay?● What do they need to hear to consider your solution?● What is a new customer worth?● How much can you afford to risk?
  10. 10. Bottom line...When you have the answers,you will have your strategy.● Message● Media● Budget● Expected ROI
  11. 11. Calculating Your Advertising ROI Amount of Financial Gain ---------------------------------------------------- Total Investment Amount The simple ROI calculation is commonly used for short-term (example: less than one year) investments and benefits. It is uncomplicated and most people can understand it. For example, say$1,000 is invested and it earns $1,250. This is a gain of $250. Divide the $250 by $1,000 (the amount invested) gives an ROI of 25%.
  12. 12. ROIWhy It Matters:ROI is one of the most used profitability ratios because of its flexibility. That being said, one of thedownsides of the ROI calculation is that it can be manipulated, so results may vary between users.When using ROI to compare investments, its important to use the same inputs to get an accuratecomparison.Also, its important to note that the basic ROI calculation does not take time into consideration.Obviously, its more desirable to get a +15% return over one year than it is over two years.One more time...the instructions (A little more detailed): 1. Add up all of your costs related to the initial investment. If this is an ongoing cost, measure your ROI on a weekly, monthly or yearly basis (your choice). In the website creation example, say your costs include the yearly web hosting fees at $250, purchase of a unique domain name at $20 per year, web developer for $2,400 per year, web writer at $3,600 for the year and advertising fees of $1,200. Your total yearly cost in this example is $7,470. 2. Add up all of your sales from the year that came in specifically as a result of that investment. Say you brought in $20,000 in web sales in this example. 3. Subtract your total gain from the investment ($20,000 in sales) from the cost ($7,470). The result in this case is $12,530. 4. Divide the result ($12,530) by the total investment you made in the business ($7,400) to get your return on investment. The total ROI in this example is 12,530 divided by 7,470 which equals 1.68 or 168 percent return on investment.
  13. 13. Truths of Advertising #1:Your market changes.
  14. 14. Truths of Advertising #2:People forget.
  15. 15. Truths of Advertising #3:Your competition is not quitting.
  16. 16. Truths of Advertising #4:Advertising strengthens your identity.
  17. 17. Truths of Advertising #5:You want (need) more sales.
  18. 18. Truths of Advertising #6:You want to keep current customers.
  19. 19. Truths of Advertising #7:Your ads can boost customer morale.
  20. 20. Truths of Advertising #8: Ads giveyou an advantage over competitors.
  21. 21. Advertising Rules of Thumb● Expenditures by industry.● Best practices handout.
  22. 22. Anatomy of an Effective Ad● Focus (branding or selling)● Headline● Image (if any)● Body copy (if any)● Call to action● Identity (name/logo)● Contact info● Extras (coupon, reply envelope)
  23. 23. Heres an OfficeXpat... 1-3 calls/wk, $400/wk cost, 99% conversion rate
  24. 24. Anatomy of Marthas ad.● Focus = selling (branding or selling)● Headline = OK, but small - 3 stars● Image = serious about your money (if any)● Body copy = kinda small (if any)● Call to action = strong, free offer● Identity = photo, name, QB logo (name/logo)● Contact info = lots● Extras = none (coupon, reply envelope)
  25. 25. Think about Marthas ad... What would you do to make it better?
  26. 26. Heres my version.use the space, show value, personalize (my website, your free inspection, email), clarify URL, add (360) phone#
  27. 27. Summary/Wrap Up● Open discussion Questions or comments?

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