Monday, March 16, 2015
Maximizing Marketing Impact
We shouldn't try to market economically. It's not about saving money. It's about generating significantly more in profits than we spend on marketing, Levinson reminds us.
With this in mind, Levinson has suggestions for saving money - suggestions that can help software developers deal with the difficult economy worldwide, and its effect on the software development industry -
Size Doesn't Matter
Try small advertisements, Levinson suggests, instead of larger ones. Try advertising on smaller, lower-volume websites, and in lower-circulation trade publications. You may find that the highest returns don't come from your investments in the huge consumer publications or on the largest download sites. Smaller magazines and online sites that do a better job of targeting your audience might be more cost-effective places to increase your microISV income.
Economize on Research
Levinson suggests that we not spend a fortune doing market research. Instead, rely on industry publications and trade association forums to find the information that you need about your marketplace. Be wary of industry surveys. Many times, the organization that commissioned the survey has an agenda, and the survey is designed to confirm the conclusion that the organization had at the outset.
Extend your Current Ads
Be persistent in your marketing campaigns, Levinson urges. Stop creating new, expensive ad campaigns every month or two. Most advertisers pull their ad campaigns long before they should. Worrying that the campaigns may have become stale, business owners invest in new writing, new artwork, and new ways to reach prospects. It's usually better - and much more economical - to keep your existing sales campaigns in place for additional weeks or months. Be patient.
Create Timeless Ads
Levinson wants us to write ads and brochures that don't go out of date. I agree with him. I've learned over the years that you can create sales brochures and flyers that don't get out of date quickly. You have to give your write-ups a careful reading, and try to anticipate - and eliminate - the things that might change in the future.
Write Multi-Use Ads
Find multiple uses for a single advertising vehicle. Levinson wants us to make brochures and flyers do double-duty. Reduce your printing costs by using the flyers that you postal-mail to prospects as handouts at trade shows. Reduce your copywriting costs by using parts of your press release write-ups in your online sales presentations. Turn your newsletters into whitepapers and eBooks, and then turn them into podcasts and webcasts.
It's okay to find ways to save money on your marketing and advertising activities. But don't cut back more than a little. Marketing is an investment. Do it right, and it will pay for itself many times over.