Hold each dollar accountable

Smart Marketing with Tish Pierce

Smart Marketing with Tish Pierce

Yesterday I received three pieces of mail. All three pieces were advertising related letters. All three went unopened into the garbage. What a waste of money!

But why was the money wasted? Because the mailers did not entice, intrigue or interest me. The advertising message reached me at a time of total disengagement.

One particular piece of the discarded mail was from a local insurance agency. In the past seven years, I’ve thrown away that insurance agency’s mail at least twice a month. Not only have they wasted their advertising dollar, that agency has completely lost me as a possible client because the mailers are frequent enough to have become annoying.

If the prospective mail pieces are to engage their recipient, they’ve got to do a better job. A mailer should have something of interest that makes the prospective client want to open the letter. An offer, a coupon, even just a well-designed envelope is a step in the right direction.

More important than the appearance, the direct mail piece needs to understand the target customer. Knowing the basic demographics of customer profiles and understanding shopping and lifestyle habits can be an effective weapon in successful delivery of a direct mail message.

It is also important to bundle your campaign. Don’t just send a dry, cold piece of mail. Reach out via social media or email and reach the customer where they live. Let the prospect customer know you’ve mailed them with something of interest.

Trends show digital media will gain the most shares of advertising dollars leading up to a 31.1% share of all ad spending by 2017. While TV currently captures the largest share of paid ad spending in the U.S. (39.1% in 2012), the ad dollars are projected to fall incrementally (38.8% in 2013) as digital media grows.

We’ve written about it before and will continue to do so in the future; the most important thing you can do with your advertising dollar (and marketing efforts) is hold each dollar accountable.

The term “ROI” means Return On Investment. The ROI is the benefit to the investor resulting from an investment of some resource. In business, ROI is used to measure, per designated period, the rate of return on money invested.

One of the most clear cut methods of measuring ROI is web site analytics. I am still amazed in today’s business world when a website is built and thrown onto the WWW with no intention of monitoring analytics.

Businesses today should be monitoring their analytics more so than anytime in the past due to the specific nature of data available. Who is looking at your business web site? Where did they come from? How long are they staying on your site? What pages are they visiting most? These are just a few questions in which businesses should be interested.

Fight ignorance and inertia by being aware of what is going on in the world where your business is concerned. Make each business dollar spent count towards success.

Tish Pierce, Pierce Creative Marketing Service (www.piercecms.com) Member of the Livingston Parish Chamber since 2006. Tish can be reached at 225.284.8231 or email info@piercecms.com


This and all other columns and articles, including archives of past issues, are available online at livingstonbusiness.com.