You’ve decided to advertise a special this month in the local paper. After advertising, you notice an increase in calls for information, but it really hasn’t changed your bottom line? Is it cost effective?
The answer can be one of two. What were you setting out to do? Were you intending to make more sales? If you didn’t make those extra sales, maybe you need to look at how you advertised, your wording, or even where you advertised. Were you looking to create awareness that you’re a business who can meet a client’s needs? Are you trying to be seen more?
You need to define what you want out of your advertisement before you can truly answer that question. Many people toss an advertisement out there and let it sit for a short period, and expect great things. The truth is, sometimes you need that advertisement to be seen over and over before people will either notice it, or respond to it.
Keep records of what you had hoped to accomplish with each ad you place, and also how people or the business responded. You may find that your ads are more effective when run during certain times of the year. Maybe you’ll find that a larger ad doesn’t bring more attention than the smaller ad, or vice versa.
An ad is cost effective when what you’re spending is less than what you’re bringing in. Plain and simple, but it may take awhile to understand which ads are bringing them in!
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