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What's the Score?
You may be aware that in a basketball game the assistant coaches keep an almost unending list of personal statistics for each player. Rebounds, assists, points, minutes played, etc. Why is that? Because they know that these individual statistics all add up to the bottom line. The final score. If they can achieve even a small incremental improvement in these individual statistics for each player this will have a compound affect on the final score. And of course, it helps them know which players to give the most playing time too. In marketing your business you should be just as disciplined. Which products and which ads and which media should you give the most playing time? Do you know? What's the point of designing and implementing an advertising campaign if you don't know if it worked or if it was better than the last one? What a waste. How do you know where the best place is to spend your advertising dollars? By tracking everything. Incoming calls, emails, walk-ins, website visitors, etc. Train yourself and your staff to always ask these questions. Where did they come from? How did they hear about you? Which ad did they call on? Here is an example: Let's say you place a classified ad in the newspaper at a cost of $135.00 offering a free report on your product. You could track the incoming calls in many ways (for instance by directing them to a free recorded message with a unique extension number or simply by asking them where they heard about the offer when they call). Let's say you receive 12 calls on this ad and 2 of them end up as completed sales. What is your cost per prospect? (Cost of Ad) / (Number of Calls) = Cost Per Prospect $135.00 / 12 = $11.25 Your cost per prospect is $11.25
(Number of Sold Clients) / (Number of Prospects) = Conversion Rate 2 / 12 = .17 (or 17%) Your conversion rate of prospects to sold clients is 17%
(Cost of Ad) / (Number of Sold Clients) = Cost Per Sale $135.00 / 2 = $67.50 Your marketing cost per sale is $67.50.
Which ad is performing better? What is your cost per prospect for this ad? (Cost of Ad) / (Number of Calls) = Cost Per Prospect $450.00 / 27 = $16.67 Your cost per prospect is $16.67
(Number of Sold Clients) / (Number of Prospects) = Conversion Rate 4 / 27 = .15 (or 15%) Your conversion rate of prospects to sold clients is 15%
(Cost of Ad ) / (Number of Sold Clients) = Cost Per Sale $450.00 / 4 = $112.50 Your marketing cost per sale is $112.50. Depending on your products and profit margin both of these ads may be performing well enough to merit continuation. However, based on this information we would want to look for other opportunities to expand our use of the classified ad first. This may seem a little basic but this information is extremely valuable and often overlooked. The outcome of most athletic contests is normally decided by a very small margin, sometimes by as little as tenths of an inch or hundredths of a second, missing that pass completion by half a step or missing one basket. One would suspect that most winners and losers in business are also determined by very small margins. Not giving that extra little bit of caring and customer service. Not having your presentation skills honed, not including testimonials with your sales information. Not having the most effective headline in your ad or not having a headline at all. And worst of all, not knowing which ads are working and which should be put on the bench. "If at first you don't succeed, try, try again. Then quit. There's no use being a damn fool about it." - W.C. Fields Shawn Meldrum has spent the last two decades marketing everything from almonds to landscape lighting. He currently specializes in marketing for mortgage brokers, loan officers and real estate agents. For free mortgage marketing articles and much more visit: http://www.MortgageMarketingTips.com/
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Choosing Authentic CBD Oil Can Be Difficult Due To Misleading Advertising Associated Press NEW BRUNSWICK, NJ / ACCESSWIRE / February 19, 2019 / Consumers shopping for the best CBD oil products must navigate through a maze of confusing ... How the Lee Clow Talent Tree Spreads Far and Wide in Advertising and Creativity Adweek The “coaching tree” is a familiar phenomenon in football. Much like a family tree, some of the most successful coaches in the sport can trace their lineage back to ... Timeline: Lee Clow’s 50 Years in Advertising Adweek Lee Clow is born in Los Angeles, where he would later attend Santa Monica City College and California State University at Long Beach. Big Drop In Advertising Giants Shares Forbes WPP, Interpublic, Omnicom and Publicis Groupe are in a bit of a trouble. Their stocks have been affected and there is a significant drop in their share value. Sri Lanka advertising for executioners after plan to reinstate death penalty CNN Sri Lanka has started advertising for executioners after the country's President declared he would reinstate the death penalty. Advertising Video on Demand (AVoD) Emerging Market Trends, Rapid Growth and Top Key Players- PopcornFlix, the Roku ChannelZype and Muvi LLC by 2026 - Press Release Digital Journal Value chain and stakeholder analysisThe regional analysis covers:- North America (U.S. and Canada) MannKind - Scripts, Advertising, And Cash Seeking Alpha Advertising has slowed again. Afrezza scripts came in at less than 600. Cash sits at about $55 million. Digital Turbine: A Mobile Advertising Platform Play Seeking Alpha App developers are looking for ways to improve conversion and are shifting ad spend to Digital Turbine's Ignite Platform.Significant network effects are being c. GNC Pauses Advertising On YouTube After Viral Video Exposes Vast Network Of Child Exploitation Videos The Inquisitr News The health and nutrition company GNC has suspended advertising on YouTube after some of its ads were seen on videos that seemed to show children in ... How to Get Millenials to Trust and Respond to Your Advertising Forbes One in six millennials have $100000 in savings. And if you want to attract the attention of this rather affluent, very large group of young consumers, you need to ... Online advertising body accused of knowingly breaking UK & EU data laws Sky News An organisation which sets standards for online advertising has been accused of knowingly breaching data protection laws, according to legal complaints filed ... What's the life of an advertising person worth? AdNews In an open letter to the industry, commentator Roy Morgan calls on the Media Federation of Australia and industry leaders to “lay down the law” and help fight ... 3 Ways Content Creators and Advertisers Can Build More Sustainable Relationships on Social Adweek It's no secret, the economics of online *content* has many publishers and creators relying solely on digital advertising as their single source of revenue. But digital ... Pittsburgh, Lamar Advertising bicker in court over Mt. Washington billboard Tribune-Review Legal arguments reignited Thursday over the large Lamar Advertising sign looming over Pittsburgh from atop Mt. Washington. A Pittsburgh attorney argued that ... 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I anticipate that AR advertising will account for at least ... 18,000 Android Apps Track Users by Violating Advertising ID Policies BleepingComputer 18,000 Android apps with tens or hundreds of millions of installs on the Google Play Store have been found to violate Google's Play Store Advertising ID policy ... Advertising and Sponsorships Construction.com Sweets is a one-of-a-kind inbound construction marketing solution that generates real leads – architecture, design, and engineering professionals looking for ... Two new advertising sales reps join News-Review Petoskey News-Review PETOSKEY — The Petoskey News-Review recently welcomed two new faces to its advertising team. DOJ to Examine How Online Advertising Affects Local TV Variety WASHINGTON — The Department of Justice's Antitrust Division will hold a two-day workshop to look at how online advertising affects the competitive landscape ... Agency Brief: Meet your new Advertising Hall of Famers AdAge.com The New York Stock Exchange looks decidedly more Madison Avenue this afternoon. The American Advertising Federation announced its latest Hall of Fame ... U.K. Government Report Calls for Investigation Into Digital Advertising Market Adweek The realities of digital advertising are so damaging to local and investigative news in the U.K. that a report commissioned by lawmakers is proposing government ... Immersion Active Acquires Award-Winning Marketing and Advertising Agency Gilbert & Sheppard Group PR Web Frederick (PRWEB) February 20, 2019 -- Immersion Active, a leading digital marketing agency specializing in connecting mature consumers with brands that. Tips to Help Advertisers Survive and Thrive in the Gig Economy Adweek We've all heard it: The rise of the gig economy is putting an end to the traditional job market. While there's no universally accepted definition of what a gig worker ... 6 Non-Advertising Ways That Facebook Can Grow Seeking Alpha Facebook set a new record of $274 million for non-advertising revenue in Q4 2018, up 41% year-over-year. This means Facebook has an annual run rate of ... Taxing the Rich, and the “Woke” Advertising Trend HBR.org Daily Youngme, Felix, and Mihir debate two of the dramatic and controversial tax ideas being proposed by Democrats (a 70% marginal income tax rate and a 2% ... How to continually improve advertising across paid media platforms The Drum In 2019, how can marketers be expected to keep up with the growth and sophistication of digital advertising? How can they overcome the challenge of needing ... Next on Netflix: Advertising? eMarketer Netflix is still the king of streaming, but will its subscription-based model be able to sustain the business as cheaper, ad-supported platforms enter the streaming ... Labor accuses Treasurer Josh Frydenberg of potential advertising rule breach The Advertiser Treasurer Josh Frydenberg potentially breached strict government advertising rules by using taxpayer funds to promote himself as the Liberals deputy leader, ... To attract direct response advertisers, Reddit adds more performance tools Digiday Reddit is working to lure performance-obsessed advertisers with new tools. After releasing cost-per-click buying last month, Reddit has launched app install as a ... How could Facebook’s use of blockchain affect marketing and advertising? MarTech Today Since Facebook and Instagram play a vital role in many brands' marketing strategies, how could the company's use of blockchain-based solutions affect ... CBS Nears Sell-Out of Super Bowl Advertising (EXCLUSIVE) Variety CBS has secured agreements for its remaining open ad slots in Super Bowl LII, according to people with knowledge of the sales process. Pitched battle over bill to prohibit 'deceptive advertising' at faith-based pregnancy centers The CT Mirror A bill that would prohibit “deceptive practices” at faith-based pregnancy centers drew passionate — and conflicting — testimony from people on both sides of the ... Twitter rolls out new advertising rules to fight political misinformation ABC News The social media giant was once "unprepared and ill-equipped" to deal with political misinformation. It doesn't want that to happen again. Track Takeover: Art replaces advertising in SEPTA station WHYY Dozens of artists have taken over the SEPTA subway station walls at Walnut Street in Philadelphia. For the next month, all the advertising billboards along the ... Intelligent Social Advertising - Bringing Traction To Buisness Globally EIN News 2019 *American Cruising RV LLC* (352) 329-8938 Keirsten@intelligentsocialadvertising.com ISA leads Advertising Revolution - With Launch Of Business ISA. Burger King’s Week of Being Misunderstood Just Ended With Advertising’s Best Reunion in Years Adweek If you thought Burger King's Super Bowl ad featuring Andy Warhol was “advertising for people who work in advertising,” then wait until you see this one. In a new ... NBCUniversal Guaranteed The Upside’s Advertising Buy on the Movie’s Ticket Sales Adweek NBCUniversal has been among the loudest voices calling for a new approach to the metrics under which advertising is transacted. And now the company is ... The Biggest Advertising Trends of the Super Bowl: Women, Sad Robots, Co-Branded Spots and More Adweek Super Bowl LIII has come and gone with the Patriots beating the Rams, scoring New England's sixth championship. So, too, have the Big Game ads with ... Loft under fire for its outdated portrayal of women in advertising campaign The Japan Times Retailers typically strive to promote their products by creating ad campaigns that attract consumers' attention. Loft Co. appears to have achieved this with the ... Snapchat Advertising: How to create your Snapchat Ads ClickZ An estimated 94% of US young adults aged 18-24 use Snapchat, and 92% of US teens aged 12-17 are also Snapchat users. Here's a complete guide to ... Gun Safety Devices Get Caught in Online Advertising Bans The Wall Street Journal As more Americans keep loaded guns in their homes, efforts to sell them new kinds of safety locks are getting stuck by policies intended to block ads for firearms ... Marketers are Shifting Advertising Budgets to LinkedIn Search Engine Journal Marketers are reportedly shifting advertising budgets away from platforms like Facebook and Twitter, and spending more on LinkedIn ads. According to a ... Jeff Bezos used to hate spending money on ads, but told employees in November he 'changed his mind' CNBC Amazon used to reject the need for ad spending, but Jeff Bezos has changed his view and turned the company into a major advertiser. The Racism of 19th-Century Advertisements JSTOR Daily Illustrated advertising cards invoked ethnic stereotypes, using black women as foils in order to appeal to white consumers. AT& T to resume advertising on YouTube Marketplace APM AT&T has announced it's putting ads back on YouTube. A couple of years ago, the telecom giant pulled their ads off the platform because of concerns that its ... The Safari browser update that's driving marketers crazy AdAge.com Apple Safari's second iteration of Intelligent Tracking Prevention, or "ITP2"—which prevents tracking cookies from working in the open web—has been causing ... The future of advertising cannabis MarkLives.com For a *fresh*, independent and investigative view of Africa's changing media, marketing and advertising landscape.s. Apple and Google waged an advertising duel at the Grammys: Monday Wake-Up Call AdAge.com Childish Gambino starred in a Google ad that aired on CBS during the Grammys, while Ariana Grande was in an Apple ad. Broward judge violated rules by advertising Democratic endorsement, commission says Miami Herald A Broward County Circuit Court judge violated Florida's Code of Judicial Conduct by revealing his party affiliation and advertising a Democratic group's ... Wallingford coalition protests I-91 billboard advertising marijuana Meriden Record-Journal By Jeniece Roman. Record-Journal staff. NORTH HAVEN — Members of the Coalition for a Better Wallingford gathered on Route 5 Saturday to protest a ... Skittles on Broadway declares 'Advertising Ruins Everything' | Special: Super Bowl AdAge.com For Super Bowl Sunday, Skittles zigs where other brands zag, by putting on a bizarre Broadway musical starring Michael C. Hall. Tricks to advertising Komando There is more going on in the world of advertising then you could possibly imagine. Cars We Remember: Gas Station memories and advertising gimmicks Gainesville Sun Q: Greg do you remember the gas stations from the 1950s and 1960s and how they got you to stop in more? There were many promotions that went well beyond ... Advertisements can serve as catalysts for social change The Reflector Online Gillette's recent short film, “The Best a Man Can Be” rightly criticizes toxic masculinity and its implications for future generations. The film is the most recent ... You won’t see a digital billboard near this busy Beaufort Co. bridge. Here’s why Hilton Head Island Packet A request by Adams Outdoor Advertising for a digital electronic billboard in Port Royal SC was denied Wednesday when Town Council declined to vote. |
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