According to a Harris Poll, there are generational differences in how Americans are cutting back during this economic cycle:
Every 60 seconds, 20 hours of video are uploaded to YouTube.
Never go to a doctor whose office plants have died.
My son came home after playing with some kids down the street. He has wanted to be friends with these kids but he always seems to not cool enough, or not on the inside circle.
After another failed attempt and making them like him he said “Dad. I’m learning the difference between who your real friends are and who you just trying to be friends with.” “Your real friends” he went on to say “don’t make you work at being friends with them.” “You can just be yourself and like you for you.”
I was a little taken back by the truth of it all and the fact he was learning it as such a young age. I told him “you are right. And you are wise for getting that lesson so young.”
Out of the mouth of babes.
In the advertising world numbers get thrown around like trucks in the movie Twister. The more proposals I review from media companies I realize that so many times they are giving me numbers that simply do not matter to my client’s campaigns.
So what does matter in advertising? Results of course. Measurable results. So here are some numbers that matter when we are looking to ramp up a media plan.
1.) CPM or Cost Per Thousand.
No matter how you slice it CPM is the best starting place to begin to compare media offers. What makes CPM matter is the fact you can typically get competitive CPM’s across several types of media from TV to Radio to Print to Outdoor to Web. The lowest CPM against your target demographic tell you plain language where to put your toe in the water.
2.) Cost per lead or Cost Per Response.
At the end of the day whether it is a cost per unique visitor to your site or a cost per call to your business. The cost per lead and or cost per response is a bottom-line fantastic number that can increase your return on investment as you begin to consistently achieve your cost per lead goals over several media outlets.
3.) Cost per conversion.
So how much is it costing you by media buy to deliver an actual customer? What a powerful number to know. Once you can drill down to the number of dollars it costs to bring a new customer on board you can quickly distinguish the winners from the losers. Cost of conversion matters.
What are some numbers that get thrown around that DO NOT matter? Here are a few.
number if clicks. Number of listeners or total households reached. Number of page views. Anything that does not specifically pertain to your campaign and schedule is just dressing.
Stick with the numbers that matter. You will win more times than lose.
If your advertising is not getting you the results you need here are four key factors to look at when you are looking under the hood to fix it.
1.) The creative: Are your ads product and feature focused vs. benefit to the customer focused? You will know if you see a lot of ingredients listed or lines like “We are #1”. That puts the focus on you and not the customer.
Get a white sheet of paper out and start with simple bullets. Answer this one question. If your best friend came to you and asked “why should I buy this product/ or service?” what would you say? Write every answer down and try to keep it to one line. That is a good foundation to start your ad.
2.) The audience: Are you sure you are placing your ads before the right audience. If you’ve been in a holding pattern then you need to re-evaluate. Audiences may have shifted. Your buyers may be watching, listening or reading somewhere else now. Take the time to find out where they are at . Start new tests on these media outlets.
3.) The frequency: Many campaigns fall short because they are spread to thin. Here are good ideas to try and boost the frequency your target audience sees, hears or reads your ads. One – reduce the number of weeks you advertise in a month and increase the frequency of the on the weeks you are on. Two- reduce the numbers of days you advertise and double or triple your frequency on the days you are on. Three – reduce the number of media outlets you are on and try doubling the frequency of your best performing outlets.
4.) The rate: It could very well be your advertising is not pulling the numbers you need because you are paying too much for the space. Get with a professional media buying firm that specializes in direct response. They get access to the best rates and have the best data on which outlets are getting results and which ones are falling flat.
For Sale: Parachute. Only used once, never opened, small stain.