Does Your Advertising Have a Goal?

You know all about the importance of setting personal and business goals, but what about setting goals for your advertising? Such goals are also important to the success of your sales and marketing efforts. The three traditional goals of advertising are to inform, persuade, and remind. However, you should add one more goal to that list, especially if you run a small or medium-sized business. That goal is to break even on the cost of running your ad. If the ad makes money immediately, that's a bonus. Why just break even? Your strategy should be to create an ongoing relationship, not just a one-time transaction. You want to build a base -- a growing list of customers who come back to buy over and over again. Long-term growth and stability are the keys, not just one-time, short-term gains. "The man who stops advertising to save money is like the man who stops the clock to save time." - Henry Ford Advertising your business is important. Advertising your business on a consistent basis is even more important. Your business has to get noticed. It needs traffic, and that traffic needs to buy. Instead of thinking about advertising your business as an expense, think about it as an investment. It's an investment with the goal of breaking even quickly while generating ROI for years to come. Here are eight reasons you need to advertise consistently with a purpose and goal in mind. Get Noticed -- At any given time and in any market, only 2 to 4% of consumers are ready to buy what you sell. It's nearly impossible to predict when this group is going to actually make the purchase. They'll buy from the company that comes to the top of their mind when they're ready. The company that's most consistent in being seen and getting noticed will win the business most of the time. Remind Them -- People tend to forget quickly. Busy lives and long to-do lists can make anyone forget about your business. Just because you sent one postcard doesn't mean a prospect will remember your business when it's time to buy. In the advertising race, the tortoise beats the hare. Your Competition -- Your competitors won't quit advertising anytime soon. You shouldn't either. Shifting Quicksand -- Your market is constantly changing. You have to be nimble and adjust with it. Change up your ad copy and design. Test it, measure it, and tweak your ads until you achieve your desired return on investment. Momentum -- Advertising consistently not only informs your audience that you mean business but also serves notice to your competitors that you're in it for the long haul. Advertising boosts the morale of your own staff as well, signaling the vitality of your brand. Current Customers -- You know your competitors are nipping at your heels, trying to steal away your customers. Don't take your current customers for granted in your ad campaigns. Remind them on a regular basis the unique value you bring to the table and deliver for them. Don't assume they know already. Past Customers -- One of the fastest ways to boost sales is to reactivate past clients. Most customers leave a business because they feel unwanted and neglected. Tell them you're sorry and that you want them back. Give them an incentive to come back again. Many will come back. This time, don't neglect them. Communicate regularly and tell them that you appreciate their business. Advertising is not just for boosting sales; it also works for retaining customers. It's much cheaper to retain a customer than to find a new one. Advertising to current and past customers is an investment that makes lots of cents! Competitive Advantage -- Nothing helps you maintain a lead over your competitors like consistent advertising. Whether you're there now or you'll get there soon, once you have the lead, keep the foot on the pedal, so the competition has little chance of catching up. You must have both strategic and monetary goals in mind when advertising your business. When done with a purpose and vision, your ad campaigns will produce real ROI and real customers who will pay you back for years to come. To start and build momentum, advertise consistently. You'll end up creating your own economy.

Using the Law of Reciprocity to Advance Your Business

In social psychology, reciprocity refers to the natural human tendency to want to return a favor -- to give back after someone has shown generosity to you. You've no doubt experienced such times in your own life, when you've felt such a sense of appreciation for a kindness done that you felt inclined to respond in kind. That's what reciprocity is all about. Giving to Give -- and Build Relationships Of course, there is another type of reciprocity -- one born more from a sense of obligation than appreciation. But that first type (the one inspired by an act of generosity) offers a far more valuable return on the good deed done. Why? By inspiring feelings of goodwill, this type of reciprocity makes the recipient much more likely to return the favor willingly, rather than through a sense of duty. Why is this important to your overall business success? Because the person who reciprocates willingly will be much more likely to stick around to continue the relationship long-term. Giving to Get -- and Build the "Bottom Line" The reciprocity that's based on duty and obligation is less effective because it creates feelings of unease in the recipient -- the same sort of feelings you get from owing a debt. This type of reciprocity makes people feel as if they are being pressured, or even coerced, into reciprocating. When you give to get, it's like tying a string to the gift and continually pulling it back toward you, rather than releasing your hold on it and giving it away free and clear. This type of reciprocity isn't true reciprocity at all, since it doesn't inspire the other person to want to return the favor. As a result, it will only create resistance in your prospect, a situation that's usually counterproductive to your marketing efforts and your long-term business goals. 5 Ways to Use Reciprocity to Advance Your Business Here are five suggestions for creating genuine, positive reciprocity in your prospects, customers, or clients: 1. Offer something for free -- with no strings attached.Giving a small gift every now and then can be a great way to say thanks to your customers for their business and their loyalty. If you do this without asking for anything in return, you may be surprised at the goodwill you build over time. Gestures like these are never wasted, even though they may not seem to be making a difference. Sincere generosity increases your customers' esteem for your business, which makes them eager to return. 2. Go the extra mile for your customer. Spend a little extra time helping a customer solve a problem. Take a moment to pass along some helpful information you come across that relates to your client's business (B2B) or your customer's interest, need, or profession (B2C). Doing something unexpectedly nice shows your customers you value them as individuals and not just as your key to profits. 3. Make things right whenever a customer is dissatisfied.This is another way to demonstrate how much you value your customers, making them enthusiastic about buying from you again despite their initial dissatisfaction. Their respect for you will grow in direct proportion to the amount of empathy, patience, professionalism, and generosity you show when such sensitive issues occur -- particularly when they are upset and reacting with impatience themselves. 4. Treat both customers and prospects as if they matter.Courtesy, friendliness, and respect will go a long way toward creating loyal long-term customers who will become the best advertisement for your brand. By making your service as personalized as you can, you tell your customer, "You are important." 5. Offer your website visitors helpful information at no charge. By attracting people to your website with the promise of value-added content, you'll soon become the go-to source for the answers they need, and they'll value you, as well. Try the above five tips to start laying the groundwork for the reciprocity that's sure to follow.