Judging Results And Expanding Promotion
After you have placed each ad, judge how it does. Did it produce a profit for you? If not, do you know why it didn’t work? Try changing the headline, the body copy, or the advertising medium. Make only one of these changes at a time. If you change everything at once you will never know which aspect it was that created the change in results. If your ad did produce a profit, how can you expand on it? Try changing the headline or the ad slightly and see what the results are. Find other similar places that you could use to expand your advertising. Do this in a slow methodical way so you can track and keep increasing your profits with every ad you place.
If every ad you place is losing money then you are going to need to step back and re-examine your product, your market, your USP, and your overall concepts.
Are you selling what your market really wants and is it better than the competition?
Advertising never has to be a gamble. It can be an intelligent investment that will produce results for you time and time again. Look at the mutual fund manager. They may have 20 or more different stocks in their portfolio. While some of the stocks may lose money, the idea is to keep most of them making a profit.
- By combining all of the different stocks in one portfolio, they can reduce the risks and increase their chances of profit.
- By tracking all of your ads and using different forms of advertising, you can reduce your overall risk and then expand on whichever advertising pulls in the most profits.
Don’t ever look at your marketing programme as a get rich quick scheme or you will end up gambling away your advertising budget.
Look at yourself as the mutual fund manager who intelligently picks and chooses the right sources for his or her portfolio.
Invest wisely.