Part 3 – How to Massively Reduce Your Marketing Cost and Get More Customers | Radically Effective Marketing for Business Owners

Date: August 4, 2015
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Part 3: Picking the Right Channel

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Without a doubt, picking the right channel to promote your products will result in more effective marketing.

For example, if you want to advertise mass consumer products, newspapers and TV would be your best channels.

To geo-target a specific area, flyer drops may be more cost effective.

To target businesses, Linkedin would be your best social media channel.

It’s really common sense, right?

Yet I see time and time again businesses advertise with big ad agencies who spend their money stupidly in glossy magazines and fancy TV ads.

I guess it pays the big bills they ask for.

Plus, they get a commission from the media they spend their ad money on.

It really doesn’t make sense, but that’s how a lot of ad agencies work.

I wonder how agencies can act in the best interest of clients with this kind of setup. But that’s a discussion for some other time.

For smart business owners like you and I, we want to make sure that every dollar we spend on marketing yields a good ROI.

That’s why we gotta do it smarter.

And I want to tell you that you can do it smarter by going to the channel your prospects are hanging out at.

In this case with my client who runs the seminar business, he was spending a lot on print advertising. I call that a shotgun approach: like shooting in the dark and hoping you hit something.

Not to mention, that’s a very expensive way to reach your market.

What I needed to do was to get his message to ONLY his target market…we don’t want to pay for people who are not interested in his message to see his ad.

Facebook was a good channel for us to reach his prospects because of 5 reasons:

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  • Facebook is the most widely used social media platform in Singapore, thus his campaign was scalable. We only targeted people who resided in Singapore.
  • Facebook gave us the tools to laser target his prospects by interest. We identified some of the likely interests such as ‘investing’ and ‘stock market’ as a way to reach the right audience.
  • Facebook allowed us to target his competitor’s fans. We used this function to target some of his competitors fans who would be likely to be interested in our offering.
  • Facebook allowed us to upload a small sample of existing prospects and customers to create a large ‘lookalike audience’ based on the sample. A Lookalike audience is where Facebook will look at the characteristics of a small sample of people, and identify other people who exhibit similar characteristics.
  • Facebook allows us to do remarketing. Meaning we can have ads to follow up on people who visited our website, but did not register. Studies have shown that remarketing is a highly cost effective way to reach your audience.

These 5 factors made Facebook ads extremely powerful for our needs.

Remember article 1, where we had to clearly identify our target audience?

If we skipped that step, then we would be highly unlikely to be able to use this channel effectively, neither would be have chosen the right channel to promote our product.

That’s why step 1 is absolutely critical.

Without figuring out their hot buttons in step 2, our ads would not have made them take notice of us. Thus massively increasing our ad spend per registration.

And finally, without selecting the right channel, we would not be able to target the right audience with precision.

Now that I’ve revealed 3 steps to massively increase the effectiveness of your marketing, I hope you can use them in your business too.

Missed part 2? Click here to read it

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The 3 steps I revealed here is only the tip of the iceberg, as far as creating radically effective marketing campaigns go.

There are many other factors that could massively increase the effectiveness of your marketing and multiply your business revenue.

So what can you do?

The good news is, for those of you who are serious about taking your business to the next level, I’d like to offer you a free 45-minute consultation on your marketing. Valued at US$350.  

In this time, I will evaluate your current marketing activities and give you ideas on how to make it more effective…to help you save money and get more clients.

To qualify for this, you need to be spending at least US$40,000 on marketing and advertising per year in your business. Otherwise you are simply not going to get the full benefit of this consultation.

I only set aside time for 8 FREE spots per month. Click the button below to reserve your spot.

I look forward to helping your business grow!

 

Terence has been passionately practicing and teaching marketing for 20 years. Since 2014 when Radical Marketing was set up, Terence has been helping business owners, speakers and experts from all over the world to fill up their seminar and webinar rooms with attendees.

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