getting the most of your advertising dollars prstore
TRANSCRIPT
HOW TO GET THE MOST FROM YOUR ADVERTISING DOLLARS
Presented by:
Wynne Angell
Angell Consulting/PRstore
Q.
How much is your marketing budget?
……is it enough?
GETTING THE MOST FROM YOUR ADVERTISING DOLLARS
• Determining the appropriate marketing budget• Orchestrating an effective marketing
campaign• Avoiding biggest budget busters• Developing effective partnerships
DETERMINING THE APPROPRIATE MARKETING BUDGET
AVERAGE COST PER SALE?
LOW: $2,000
HIGH: $25,000
Your Cost per Sale
Cost per Sale = Total Marketing $$$
# of Sales
Example
Current Year Actual:
$250,000/45 = $5,555
Next Year’s Projections:
52 @ $5,555 = $288,860
Other Things to Consider:
• New Competition• Current Market Conditions• Rising Costs from External Vendors• New Collateral Materials• Website Development
ORCHESTRATING AN EFFECTIVE MARKETING CAMPAIGN
3 Components:
• Target Audience• Compelling Message• Effective Medium
Communications MediaThe types of media categories
include the following:
• Print• Direct Mail• Web
• e-marketing• TV• Radio
Q.
What are you spending your money on and is your investment
paying off?
AVOID BIGGEST BUDGET BUSTERS
• Low Resident Satisfaction• No Plan or
Ineffective Plan• Wasting Leads
• Stuck in our ways• Recognize when
things aren’t working• Accountability
TOP 10 SAVING STRATEGIES
1. High Resident Satisfaction = Referrals
2. Have a Marketing Plan, Budget, and Timeline
3. Spend Money on Things that Work
4. Take Advantage of Savings Opportunities
5. Follow Good Procedures
TOP 10 SAVING STRATEGIES
1. Make Every Lead Count
2. Develop the Right Message
3. Bring Marketing Strategies into the Future
4. Focus on Effective Sales Management
5. Develop Effective Partnerships
CHOOSING EFFECTIVE ADVERTISING PARTNERSHIPS
Options:
• Marketing/advertising developed and executed by marketing staff
• Marketing staff coordinates advertising with the use of outside vendors/free lancers
• Corporate or management companies provide• Marketing staff/corporate use advertising
agency
Q.
What is the most effective?
Benefits of an Ad Agency
• Allows marketing staff to focus on sales• Provides opportunity to tap professional
expertise – copywriting and design• Creates additional value from outside
perspective• Limits the number of vendors
WHAT TO LOOK FOR IN AN ADVERTISING AGENCY:
Strategic Ability and Approach (25%)
Chemistry (25%)
Results Oriented (20%)
Creative Approach (15%)
Compensation (15%)
QUESTIONS?
OPPORTUNITY
“We are all faced with a series of great opportunities brilliantly disguised as
impossible situations.”
- Charles Swindoll