How Much Do We Spend In Ad Waste?

Over the last decade, technology has advanced rapidly, and dramatically.

Some may even question the morale of the reality. Now, we don't need to have millions of dollars to be a household name. You are not made by Vogue Ad Campaigns or who owns the 7 story billboard on Sunset Blvd but, with that come costly mistakes.

Just because you can do it on your own doesn't mean you should. The average person doing their own marketing can have up to 40 percent ad spend waste. That is massive!

So how do you manage marketing a small business without breaking the bank?

I get that not everyone has a 30k a month marketing budget. But there are some serious steps that need to take place in order to lower your cost in spending and that must be much more intentionally driven.

Let's look at step one:

Awareness: Meaning people can identify your logo, have heard your name, and/or know your tagline.

However, this does not mean anyone knows what you do.

These campaigns come from event engagement, yard signs, T-shirts, swag, etc.

Please do not move forward in any other steps if you are not producing 2500 promotional items a year. This is a huge part of your brand awareness. These can be given away at trade shows, runs, or lunch and learns.

Step two is:

Education: People learn what you do.

Now that they are aware of who you are and what you do you will have to deliver this messaging with consistency.

Radio ads, digital ads on video streaming, and Tv commercials.

Now it is important to know what demographics these targets. Tv is for 55 and over, Radio is for the working or active middle-aged American, and streaming is for millennials to gen z awareness and education. Are you going to see ROI within one month of doing this? No. The key is consistency. The more the audience hears about what you can do for them, the more trust they build up in their minds about whether to engage with you in the future.

Step 3:

Engagement:

Where most AD SPEND WASTE LIVES! Everyone wants to skip 1 and 2 and jump straight to 3. You boost a post for $500 and then go "marketing does not work." Well of course it didn't work. I have never heard of you, I don't know what you do and I sure am not clicking on an ad that seems sketchy.

The only way digital works well is if you have very specific tactics geared to your audience. You are thinking "oh sure but how much does that cost." I will tell you right now it is not as much as your ad spend waste. Technology is more competitive these days so therefore so are prices. You need someone who understands how to Geofence the right homes within your market, Geo fence competitors, target individuals with interests and behaviors that are ideal. NO, you can not spend all this on FB. I see so many people who spend an absurd amount on FB marketing and their website has no SEO, they have no awareness and education campaigns and worst there is no retargeting on their websites. I am a skeptical consumer, your job has to shove me down the funnel. Anyone with the arrogance to believe there are just consumers sitting around waiting for the opportunity to buy your product is irrational. You must either convince me I need it or target me when I want it. As in I am currently searching fr it.

One more thing. Your graphics. You can't use a picture that seems too stock image-like or grainy and expect engagement. You need to have to be visually competitive. We see thousands of words and images a day. You better have something that piques my interest very quickly,.

With that all that being said how can you start reducing your ad spend waste today?

I would love to take a look at your current strategy and find you some solutions 

Email content@clvplanners.com