Is Traditional Advertising & Mass Media a Waste of Your Money?
Stop Wasting Money on Advertising! – you see this warning all the time. But is it still worth it to use traditional mass media if you are a small business?
Back in the good old days, traditional advertising in the form of magazines newspapers television and radio when direct mail were basically the only ways that most small businesses had of connecting with their customers.
However due to drawbacks of each medium, (with the except of direct mail) it was very difficult for a business owner to pinpoint target customers and track the success or failure rate of their advertising efforts.
For example, a small bakery owner wants to branch out into creating high-end wedding cakes.
Her problem is that only a select number of people at any given time of the year will be interested in buying wedding cakes. And an even smaller number of people will be attracted to her line of custom wedding cakes.
While she can create print ads in select niche magazines that cater to weddings and brides, her ad would be competing with hundreds of other bakeries. Not to mention that specialty magazine ads carry a premium price.
On the other hand she can advertise in a local newspaper for lower price but her advertising dollars are still wasted since many subscribers to the paper are outside her wedding cake market.
She can even create low cost TV spots. You know the ones I mean. These are the television channels that appear between your local public access channels and C-Span.
As you can see, unless she uses form of direct marketing, she will be unable to properly track her conversion rates enough to justify her spending.
This is because mass media marketing has always worked best for big brand names. A large company like Sears or Wal-Mart can effectively advertise using a variety of traditional marketing channels such as television, radio, etc. without worrying about the cost of each ad piece.
As long as thousands and thousands of new or returning customers hit their doors after a TV spot plays on the Super Bowl, a big brand is good to go.
But for the small business community, the net costs of a mass media ad must be justified against incoming leads and sales.
Think about this for second, how many radio spots or TV commercials end up playing to empty rooms, people asleep, babies or the family pet? That is just money that is simply being tossed away!
This is why it’s so critical that small business owners and others get the most sales opportunities out of their marketing as possible.
This is why online marketing levels the playing field between the big business brands and the smaller or individual business owner.
Why Having a Website Is Not Enough
Online, big companies can have fantastic looking websites. But due to poorly planned or badly executed content marketing strategies, they can lose sales just as quick as the little guys!
On the over hand a small time website operator with a great looking site and a better online marketing plan can beat out larger companies over time – if they use their content to persuade more people to do business with them.
Plus a small business person with a decent lead/email address capture system can easily communicate with clients, develop long term relationships and build a million-dollar reputation using email marketing.
For the small business person, continuing to use expensive and ineffectual traditional marketing methods may indeed be throwing your money away into a money pit.
If you are interested in discovering the 4 proven strategies I have used to help my small business clients improve their marketing, then I invite you to check out my free ebook “Boost Your Sales!”