5 Proven Ways to Waste Advertising Money
You're running a small business, so you're strapped for cash. Everyone seems to be trying to sell you something these days. So what's the best way to decide which marketing tactics will work for you, and which ones won't? Here are five ways that advertising can go wrong:
1- Making imperfectly targeted ads: If your ad is likely to be seen by people who don't actually want what you have to offer, then it's a waste of money. For example, if your offer is "haircuts," and it only reaches men between 18 and 24 years old in London with short hair; the ad would be considered an imperfectly-targeted marketing technique. Nothing's perfect, but your ad should reach someone who is somewhat likely to be interested in your offer.
2- Selling products people don't need: In another example, radio ads that try to sell kitchen knives to people who live in apartments can fail miserably. Most successful ad campaigns avoid this pitfall by offering something of value to their target audience. For example, the same radio ad might mention that their knives are great for chopping wood for bonfires on the beach; a potential customer who doesn't live in an apartment might be more interested.
3- Overpaying for an ad campaign: If your marketing message doesn't resonate with your target market, whether it's a radio ad, an Internet banner ad or magazine or TV spot, you're wasting money. You might have a fantastic product – the only problem is that your potential customer just isn't excited about it. So if you can see that targeting will be a waste of time, give up now and do something that will actually work.
4- Trolling for new customers: The obvious problem associated with Internet banner ads is that people who don't find the message interesting could click on the link and become customers. But this type of "lurking" could really hurt your business in other ways. Privacy advocates and anti-spam activists demonstrate against banner ads all the time because they're easy to hack. Clicking on some of these spammy banner ads is a way for people to get unwanted email in their inboxes and have insulting, racist or pornographic material pop up on other web pages they visit.
5- Giving up: Some businesses try for years to find their target market, only to give up when it looks like it just won't happen. But keeping your marketing strategies simple will make it easier for you to identify your target audience and understand what your customers want. Choosing marketing strategies that will actually work and are reasonably targeted will make you money so you can keep doing what you do best.
About The Author:
Mike McQuade is the founder and owner of The Online Marketing Blog. He has a degree in marketing from the University of Oklahoma, and has developed a successful online marketing business over the past decade. His blog provides valuable information on how to increase your online presence, the most efficient methods for reaching your target audience, and helpful tips to make your website more attractive to search engines. To learn more about Mike and his blog, visit OnlineMarketingBlog.com
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