First, you can advertise your brand so that people recognize it when they see it in later![\"\"](\"https:\/\/berkonomics.com\/wp-content\/uploads\/2015\/08\/Coin_flipping.jpg\")
materials.\u00a0 Second, you can make a call to action, using an ad to bring people to your place of offer, buy your services or product, or take advantage of a special incentive.\u00a0\u00a0 And third, you can invest in direct response advertising.\u00a0 Here you make a pitch with a price attached and ask the target to respond immediately to take advantage of the offer.<\/p>\n
Measuring your results<\/strong><\/p>\n There is a vast difference in the way we can measure the results of our advertising. For example, direct response ads yield precise statistics, and the pay\u2013off is easily measurable.\u00a0 Yes, you might have made a more attractive offer with better results; but you can test direct response ads with various offers and price points to determine that optimum level.<\/p>\n The call to action<\/strong><\/p>\n With a call-to-action ad, you have a more complex measurement problem, since people can come to an event or buy the merchandise by finding out through any of several sources other than the specific ad.<\/p>\n [Email readers, continue here…]\u00a0 \u00a0<\/em><\/span>And with brand (or lifestyle) advertising, there is no way to directly measure success.\u00a0 It is this kind of ad which must have prompted John Wanamaker to state, \u201cHalf the money I spend on advertising is wasted; the trouble is I don\u2019t know which half.\u201d<\/p>\n Creating value, the old fashioned way<\/strong><\/p>\n We angel and venture investors look to build brand and enterprise value, sometimes at the direct expense of profitability or even revenue.\u00a0 A good manager of a business should work to create value the old-fashioned way, by working IN the business, not ON the business (as investors are prone to do.)<\/p>\n You should not succumb to the investor\u2019s prodding unless there is plenty of money in the bank and an agreed upon time to seek a sale.\u00a0 Advertise to build the business\u2019s revenue and profits whenever possible.<\/p>\n","protected":false},"excerpt":{"rendered":" If we never advertised, we\u2019d never sell anything.\u00a0 Right? Perhaps right, but there are three major types of advertising, some requiring large outlays of cash, some not. The types of advertising First, you can advertise your brand so that people … Continue reading