I just called into a client’s business to say hello. Whilst I was there he mentioned he’d drastically reduced his Yellow Pages Phone Book advertising spend – from $120,000 pa down to the absolute minimum.
You see, this guy measures how his marketing is working – as we all should. And he found that over the past 2 years he was spending $120,000 on ads for gross sales of $146,000. That would mean a bit fat loss based on his margins.
My client is in an industry where I’d have thought Yellow Pages would work really well – but it hasn’t.
Are you just assuming your advertising is working?
It’s easy to check – just ask every single person who buys from you “How did you hear of us?”
Simple. Effective. And can save you $120,000 per year.