Posts Tagged ‘business barriers’

What Are You Trying to Make Happen? And How Will You Measure Progress?

Wednesday, August 11th, 2010

“When you don’t know where you’re going,
any road will get you there.”
- Cheshire Cat, Alice in Wonderland

Violent crime in America declined each year from 1993 to 2004. Then just about the time the iPod became popular in 2005, violent crime began trending upward.  CONCLUSION: iPods cause violent crime. Or at least that was the conclusion of a 2007 report published by The Urban Institute, a research organization based in Washington. (no, really.)

Poor advertising strategies stem from just such logic: “Since one event precedes another, the first event must be the cause of the second.” This fallacy of logic is so common it has a Latin name: Post hoc, ergo, propter hoc, “after this, therefore, because of this,” referring to the mistaken belief that temporal succession implies a causal relation.

Most business owners look around, observe their circumstances and then try to make sense of it all. Their thoughts and plans are guided by what they see. But any scientist will tell you correlation and causation are not the same thing.

Don’t tell me what you see. Tell me what you want to see. “What are you trying to make happen? And how will you measure progress?” When I ask these questions, most business owners stammer, stutter and hedge, then change the subject by asking a question of their own.

I usually ignore that question and ask, “How am I supposed to help you make something happen when you can’t tell me what it is?”

How many of your actions are actually reactions triggered by circumstances? Are we allowing the merely urgent to set aside the truly important?

Do you know what you’re trying to make happen? Can you tell me exactly how you plan to measure progress? The shortest distance from Point A to Point B is always a straight line. The best marketing strategies begin by drawing a straight line from Where We Are Today to Where We’d Like To Be Tomorrow.

No stack of dollars can be your lighthouse. Dollars are merely a byproduct. Money fails as a compass because it can be found in every direction.
Where do you want to be tomorrow?

Good. Now let’s get started.

The myth of the great ad

Sunday, November 15th, 2009

Top secret
Photo by daliborlev
You can do a great job constructing a badly designed house.  But when you are through, you’ve still got a badly designed house.  Right?  It doesn’t matter how good you are with a hammer if the blueprints themselves are faulty.  Ads are like houses.

It doesn’t matter how good you are with nouns or verbs when the core message is boring.  There is no good way to tell a bad story.  And ultimately, it’s the core message of your campaign that determines the success of your advertising.

Give a powerful core message to an average writer and the little business on the corner can leap from Main Street to Wall Street.  But give an average message to a powerful writer and ….yeah, you get it.

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Already have an agency relationship?

Tuesday, November 10th, 2009

sanaa, zollverein kubus, 2003-2006
Photo by seier+seier+seier
A lot of people are looking for change right now. If you currently work with an advertising agency, spend just a few moments thinking about the following questions and your responses to them.  We believe that any answer you may have that equals “less than exceeds most expectations” may be an opportunity for a new more productive relationship.  A prospect we’d welcome exploring.

1) Overall how do you rate your agency’s creative team on your business?

2) Does your agency appoint sufficiently qualified creative talent to meet your needs in?

  • strategic creative direction
  • copywriting
  • art direction/design
  • broadcast production
  • print production

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The ROI on Your Marketing Dollars

Friday, September 11th, 2009
Marketing ROI

Marketing ROI

Times are tough for organizations large and small right now in 2009.  Oftentimes organizations overlook the power of marketing and look to cut expenses in that area. As a marketing professional I am saying “Don’t Cut Your Marketing Budget- Increase it!” but I am also a business owner, and as a business owner I am saying “Don’t Cut Your Marketing Budget- Increase it!”

Here’s why:

What does improving a website’s conversion rate do for an organization’s Roi on marketing budget.

Let’s suppose your site draws 100,000 unique visitors per month and you have an average conversion rate of  2.5%. If you average sale is $50, then you gross about $125,000 a month. Let’s also say that after some optimization work and a few split testing actions, you increaseyour overall conversion rate by just 10% (very achievable goal with Marketing Performance), and your conversion rate is now 2.75%. Your monthly gross is now $137,500. The incremental annualized revenue realized is $150,000 more than where you began.

Now, imagine if you do nothing. How much money are you leaving on your competitors table?

Contact Marketing Performance Today and improve your marketing ROI!

Measuring Your Brand Effectiveness

Saturday, September 5th, 2009
Brand Measurement

Brand Measurement

How do you measure your business success? Where does your company stand, and where would you like to improve? It’s often about more than financial gains. Consider these seven ways to chart your business success.

1. Gross sales
Most companies rely on a single number to assess success: gross revenue from sales of products or services. But this figure can be misleading, particularly if you have high overhead or other expenses that can distort this snapshot of overall business activities. Calculating your gross revenue over a specific time period is a good place to start, but don’t rely on it as your only yardstick.

2. Profits
Imagine two very different businesses. One business with low overhead and high profit margins. The other is a much larger business with higher sales volume but with an overhead and other expenses that eat up much of the profits. Both companies end up with the same net profit. Which is the more appealing business? I argue that it’s the lean and nimble firm, one that drives profits while steering clear of the complexities that so often drain the management of a larger enterprise. Remember, at the end of the day, it’s net profits — not gross dollars — that really matter. (more…)