Advertising Effectiveness, how to measure it
Henry Ford, along with many other people, is credited with saying, “I know that half of my ad is working, I just do not know which half. “
Regardless of who said it, it is true. If you talk to enough advertisers, you will find some interesting ways to track advertising. I have listed two.
Ask people how they heard about you. My problem with that plan is what makes people feel like you are much more interested in finding out how they heard about you then help them. They did not come into the store to tell you how your ads are working.
Add coupon or “special offer” My problem with the plan is that the test does not offer advertising website. Invite people to be free $ 100 dollar bills and you’ll get a much better response to the 10% discount offer.
Here’s the thing, you have to invest to advertise your business. If you’re fanatical about measuring the investment, you can not profit from the results of your advertising.
So what do you do? Measuring these four aspects of your business
Store Traffic (How many people were in the store)
conditions. (Sunny vs Rain – Cold vs Hot – Dry vs Precipitation)
There you are advertising / Offer
server to be advertised
When you measure all these, you get complete picture of reality.
If store traffic is up and sales are down, this is not an advertising problem. It could be the price, staff, inventory, etc.
If store traffic is down and sales are up, you have to applaud the team behind.
I once worked with a client who bought a fifteen-minute radio program for 26 weeks. When talking to him about the renewal of his contract, he told me that no one had mentioned the program. After further analysis, he told me that their company had taken up significantly. When I asked what he was doing differently uptick in business, he just our program.
It was like a light bulb came after further review he remained on the agenda. If he had measured traffic, weather, What you are advertising, and the media, he would have known that it was going very well for him.
This needs to be part of the culture. Measure the effectiveness of your ads are only part of the benefits. You can organize staff, understand the best time to have a sale, look for educational for your team. Remember that you can not manage what you can not measure.
Do not make a major decision based on minor measurements
Emotional decisions are dangerous at best. Do not make long-term decisions based on short-term performance, seek development. Remember, this may not be advertising the case, it could be staff, goods, weather, etc.
Advertising takes commitment. Do you have it?