The good news is that you are in the profession that you love whether it be automotive repair, dentistry, hair care, accounting, plumbing or home care services. You are highly regarded in the community as you help people who seek professional and technical services you offer.
The bad news is that you are the owner in one of the most challenging, economic climates in America...at least in the last thirty years.
Perhaps, when you opened your business, all the ducks were aligned in your favor. The seed money to start your business was available. You either borrowed the money from a bank, a relative, or your 401K. Next you signed permits, leases and other regulatory documents to make your business official. Your prices were fair enough to make a decent living and provide jobs for employees who do a good job.
During the grand opening, you were excited that you had finally set sail to be the captain of your ship. Foot traffic alone kept you business bustling. Then a cute young lady or tanned surfer dude, selling directory advertising, sold you on a half page ad to give your exposure in the local community. Maybe you did not know whether advertising in a directory would work. Since every other business, namely your competitors, had ads, you should have one, too. Back in the day, there were no Facebooks or Twitters. So directory advertising looked like a good idea.
Five thousand dollars per year for a half-page ad? No problem. You've got that covered using your business credit card. Plus, the math done was right in front of you, showing that the ROI justified the investment. "The ad pays for itself", the directory sales representative told you. "The ad just needs to create 100, $50 dollar oil changes or 50 hair coloring appointments at $100 a pop. It's all perfectly legal and ethical with a hidden caveat, "Let the Buyer Beware".
Here's my experience and biased opinion as a business owner and former directory ad subscriber.
The ROI calculation is totally wrong. Any marketing expense should generate 3-5 times the money spent. Using the $5,000 director ad example, the business should want the ad to produce $15,000 to $25,000 in sales revenue. The whole idea of spending money in advertising is to create MORE business than the investment. Why would anyone want to spend $5,000 to generate $5,000 in sales. If the truth be told, the business lost opportunities to use the $5,000 elsewhere in the business.
To feel the full gravity of what I'm saying about a $5,000 per year ad, that's about $420 per month, or $14 per day. The smaller the dollar amount, the better the deal looks. But as the weeks, months go by, you began to wonder if the expenditure was really worth it? Those $14 per day units begin to add up.
In addition to the ROI calculation, how effective is the ad when your competitors' ads are above, below, or to the right or left of your ad?
Yes. Your business name, address and phone number look great sititng in a 500-page book. But how many people really use directories? I don't know. Each person can come to his or her own opinion.
Does directory advertising work for some businesses? The answer is yes! It works for businesses where consumers just want the work done with great workmanship and price. If the workmanship is equivalent among all competitors, the deciding factor will be price.
Our e-chamber of commerce program is more powerful with the potential to create more sales for the following reasons:
- It costs about $3 per day. Try hiring a marketing rep for $3 per day.
- We are experienced marketing professionals.
- We have a passion to see you succeed.
- Our company has a passion to succeed.
- We actively reach out to people about your business.
- You can fax us 10 contacts per week of people you want us to call.
- Your potential customers can hear about you and your business during the taped Internet-based radio interview.
- We hold weekly conference calls on to discuss business issues, success stories and tips to grow your business.
Thanks for reading this blog.
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