December 30, 2016 — I’m of the mindset that refusing to promote one’s business directly to its target market is a poor business decision. I say that because I learned recently that many in our industry responsible for promoting their companies apparently don’t believe in doing so even when no costs are incurred. From my perspective to blatantly refuse complimentary publicity is unimaginable because I’ve also come to accept the widely held advertising adage that the only bad exposure is none at all.
So Here’s The Scoop: Even more alarming, disturbing and confusing is that I was also recently told that even when there are costs involved to promote a company most decision makers in our global industry don’t seem to understand the three (3) basic fundamentals required to successfully promote their companies, products, services or career opportunities to their targeted market.
The 1st fundamental I learned of, be the venue a television commercial, a radio spot, an ad in the local newspaper or online, etc. is that costs should be absorbed and by the ‘business’ generated via the new campaign because I’ve learned that is a long standing and customary business practice; to factor the cost of the promotional campaign into the selling prices of what is being marketed and sold.
Recouping of costs also seems to apply when a company is recruiting personnel as those promotional investments are basically returned back to the company when they hire the crème de la crème; resulting in lower costly employee turnover ratios and improved employee productivity, etc.
Pretty simple stuff so far, at least that’s the way I see it all.
The 2nd fundamental, as I now understand, is that advertising costs seem to be a standard business tax deduction that may lower the companies’ burden and with a successful promo there is the opportunity to generate an attractive ROI (return on investment) by acquiring new clients and more sales etc. Again, pretty simple stuff.
Which that leads me to the 3rd basic fundamental.
It is always a wise decision to promote directly to a targeted market because at the end of the day most advertising is about ‘Branding’ – as in building name recognition – so when a potential customer/client is thinking it is time for a new (e.g.) widget the company’s ‘name’ comes to mind – ‘…oh, that’s right, Scoop gots them thar widgets…’
As it was also explained to me, good analogies are TV Super Bowl ads whereby companies will actually invest upwards of $6 Million just for a 30 second TV commercial that will air during the upcoming Super Bowl in Houston, Texas on February 5, 2017.
I’m told, in that example, that (e.g.) the cell-phone company, the potato chip folks or the auto manufacture isn’t investing that kind of dough because they’re absolutely sure that any of us will see their ads and during the game, jump off the couch, grab our keys, dash out to the car and run down and buy whatever it is they are peddling.
Nope, it doesn’t work that way and I now understand that those companies invest in their businesses via advertisements during the Super Bowl — and throughout the rest of year for that matter — in part because of the aforementioned 3 basic fundamental business reasons.
1: Costs are recouped in the sales prices – 2: Costs are tax deductible – 3: Branding a/k/a building name recognition is never a bad idea.
Of course the topic this week is about FREE advertising to a niche market and I only brought all that other stuff up because during our company Christmas Fiesta before I left on vacation I learned from our ad guy Bill that he is contacted throughout the year by companies in ‘the biz’ requesting our advertising rates.
He said that, often, many of those companies have budget issues that prevent them from promoting to their niche market via InsideTheGate.Com (ITG) and when Bill then tells them about the complimentary and extraordinary ITG advertising opportunities – guess what, the vast majority never gets back in touch with him. Go figure!
So to kick off 2017 with a big bang, if any company in our industry, on a budget or otherwise would like more information about free advertising in ITG then I highly recommend they immediately e-mail Bill Curtis for details (firstname.lastname@example.org) and in the subject box type “Free Advertising?” (Or something like that).
I can assure those so inclined that Bill or a staff member will respond within 24 hours with all the details and again, there will be no costs (on our end) for the free promo exclusively available at ITG.
But ‘listen up Pilgrim and remember the code of the west…’ – It is never a poor business decision to let your market know that instead of your competitors your company is open for business.
That your company is available to your market when they need or want you!
And in the electronic era we must all be in front of our market whether it’s at 11:23 P.M. on a Friday night or at 3:09 A.M. on a Sunday morning.
You know what I’m talkin about, that’s how it words these days and we must be there 24/7/365 because if we’re not the competition surely and gladly will be at their beck and call.
Good Luck Out There – and have an awesome New Year!
© Copyright Inside the Gate. All rights reserved.