Summary
- I once saw a colorful logo of a company in an elevator and later noticed their booth at an event. The company spread its advertising widely.
- A marketing professional there believed spreading ads everywhere ensures recognition and profits. I disagreed and explained that it could lead to wasting money.
- He admitted that despite increased brand recognition, their company was losing more money than before.
- I believe that indiscriminate advertising is ineffective and can lead to reaching irrelevant audiences, making it a poor marketing strategy.
- Most major corporations don't advertise everywhere because it's not cost-effective or ROI positive. If it were profitable, you would see ads on every sports field.
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How To Take Action
I would suggest focusing on targeted advertising instead of spreading ads everywhere. Identify who your ideal customers are and where they spend most of their time. This way, you reach the right people without wasting money.
A good way of doing this is by using social media platforms like Facebook or Instagram, where you can choose to show ads to people based on their interests or demographics. This is often cheaper and more effective because you're reaching people who are more likely to be interested in what you're selling.
Another suggestion is to develop catchy, memorable content that sticks in the minds of your audience. Even a small budget can create big impact if your messages resonate with the people you're targeting. Focus on quality over quantity to make the most of your advertising spend.
Also, take time to measure the return on investment (ROI) of your advertising efforts. Keep an eye on which methods are bringing in customers and which aren't. This helps you to stop spending on ineffective tactics and concentrate on what works.
Finally, learn from larger companies. They often focus their advertising on strategic placements that give the best returns. Emulating their cautious, targeted approaches can help you achieve better results without draining your budget.
By focusing on these smart strategies, you can grow your business effectively and avoid the pitfalls of indiscriminate advertising.
Full Transcript
I was in an elevator at this hotel and I was seeing ads there was this company bright logo few different colors and I remembered it because eventually when I was speaking out of event I saw their Booth I saw their logo there so I went up to them and I was talking to one of the gentleman in marketing he was telling me spraying your advertising everywhere is a guaranteed way to win and I told him spraying your advertising everywhere isn't a guaranteed way to win it's a guaranteed way to burn money and his belief was if you just put your ads out everywhere people will get to know you and eventually you'll end up making money so then I asked him what's the profitability of your company he's just like yeah we're losing more money than ever but more people recognize our brand dude just spraying it everywhere you just see too many irrelevant people I think this is one of the worst ways to Market and if you look at most major corporations that spend money on Advertising they would have every soccer pitch every football pitch every NBA pitch labeled after their brand name if it was that Roi positive but it's not hence you see a ton of them not do it anymore
