Comments on: How To (And How Not To) Allocate Your Marketing Budget http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/ Will Swayne blogs about online sales lead generation and website optimisation strategies Sat, 07 Jan 2012 10:33:45 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Will http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-5281 Will Tue, 19 Sep 2006 02:25:55 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-5281 Hi Guys - welcome! Phil - yes, rented lists can get good results. The secret is to test small before expanding. Often this comes down to budget though. A larger small business can probably invest 5K to test a list and if it doesn't work not be too worried, but the micro business owner might be more concerned. Also, "fresh" lists are MUCH more responsive than older lists. The ultimate is really the endorsed list - where you team up with another business and get them to endorse you to their list. And hello Mr Stock Market Trading Software (methinks someone is doing some SEO!). I couldn't agree more with your comment. Big corporates that do a lot of above the line marketing tend to be scared of tracking ROI because it just might reveal that they were barking up the wrong tree after all (isn't that the point though...so they can change course onto something that works???). I have an idea that even the big boys will get more ROI focussed as acquisition becomes more difficult and they HAVE to understand what's working and what's not. Bests, Will Hi Guys – welcome!

Phil – yes, rented lists can get good results. The secret is to test small before expanding. Often this comes down to budget though. A larger small business can probably invest 5K to test a list and if it doesn’t work not be too worried, but the micro business owner might be more concerned. Also, “fresh” lists are MUCH more responsive than older lists.

The ultimate is really the endorsed list – where you team up with another business and get them to endorse you to their list.

And hello Mr Stock Market Trading Software (methinks someone is doing some SEO!). I couldn’t agree more with your comment. Big corporates that do a lot of above the line marketing tend to be scared of tracking ROI because it just might reveal that they were barking up the wrong tree after all (isn’t that the point though…so they can change course onto something that works???).

I have an idea that even the big boys will get more ROI focussed as acquisition becomes more difficult and they HAVE to understand what’s working and what’s not.

Bests,

Will

]]> By: Stock Market Trading Software http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-5278 Stock Market Trading Software Tue, 19 Sep 2006 00:04:12 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-5278 I've worked with big corporates and marketing budget accountability is an unknown concept. However in small business it's all about money back on $ invested. I’ve worked with big corporates and marketing budget accountability is an unknown concept. However in small business it’s all about money back on $ invested.

]]> By: Phil de Fontenay http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-5239 Phil de Fontenay Sun, 17 Sep 2006 15:26:56 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-5239 Are there any rented lists that do get great results? (with acceptable copy of course) Are there any rented lists that do get great results? (with acceptable copy of course)

]]> By: Carlos http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-3062 Carlos Fri, 21 Jul 2006 03:14:21 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-3062 Afraid you are right, Will. It will take a gun to my head to throw any more money away in phone books (and even then I may not do it!). Afraid you are right, Will. It will take a gun to my head to throw any more money away in phone books (and even then I may not do it!).

]]> By: Will http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-1971 Will Wed, 14 Jun 2006 04:14:25 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-1971 Hi Carlos - not to mince words, phonebooks are C-R-A-P. The prices that the Yellow Pages charges are horrendous, even as usage falls. In many (not all industries) the cost of a lead generated by the print YP is too high. However, in some industries the YP is still a sound investment. Here are a few ideas for getting the most out of the print YP... 1. Test and track your response so you KNOW whether or not it's working. 2. Hire a good RESPONSE-ORIENTED copywriter to write your ad. A good copywriter will double or triple response. 3. Sign up for Dick Larkin's YP newsletter - it's great! The address is www.YPCommando.com 4. Think more about online search-based lead generation. If you do it right your cost per new customer acquisition should be about 10% of the YP. Hope this helps! Cheers Will Hi Carlos – not to mince words, phonebooks are C-R-A-P. The prices that the Yellow Pages charges are horrendous, even as usage falls.

In many (not all industries) the cost of a lead generated by the print YP is too high. However, in some industries the YP is still a sound investment. Here are a few ideas for getting the most out of the print YP…

1. Test and track your response so you KNOW whether or not it’s working.

2. Hire a good RESPONSE-ORIENTED copywriter to write your ad. A good copywriter will double or triple response.

3. Sign up for Dick Larkin’s YP newsletter – it’s great! The address is http://www.YPCommando.com

4. Think more about online search-based lead generation. If you do it right your cost per new customer acquisition should be about 10% of the YP.

Hope this helps!

Cheers

Will

]]> By: Carlos http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-1924 Carlos Sat, 10 Jun 2006 04:58:03 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-1924 Will, what is your opinion on phonebooks? I have a few ads out and at least in my industry (computer support) they are not doing well so far. This could however be attributed to the heavy competition in my area. Will, what is your opinion on phonebooks? I have a few ads out and at least in my industry (computer support) they are not doing well so far. This could however be attributed to the heavy competition in my area.

]]> By: Will http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-1600 Will Wed, 24 May 2006 01:00:47 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-1600 Hi Erin - thanks for stopping by! Yes, trade shows in particular can be a sink-hole for cash. I've done quite a bit of international marketing and geewillikers it's hard to get traction at trade shows, unless you're selling the best thing since sliced bread. Certainly if you're on a tight budget they're a risky investment. A great marketing avenue for people on tight budgets are "host-beneficiary partneships". I'll shortly be publishing a newsletter about this topic. If it intersests you, why not sign up to the newsletter on my site so you can get it when it comes out? Bests, Will Hi Erin – thanks for stopping by! Yes, trade shows in particular can be a sink-hole for cash. I’ve done quite a bit of international marketing and geewillikers it’s hard to get traction at trade shows, unless you’re selling the best thing since sliced bread.

Certainly if you’re on a tight budget they’re a risky investment.

A great marketing avenue for people on tight budgets are “host-beneficiary partneships”. I’ll shortly be publishing a newsletter about this topic. If it intersests you, why not sign up to the newsletter on my site so you can get it when it comes out?

Bests,

Will

]]> By: Erin How http://www.marketing-results.com.au/blog/2006/05/22/how-to-and-how-not-to-allocate-your-marketing-budget/comment-page-1/#comment-1581 Erin How Tue, 23 May 2006 13:48:24 +0000 http://www.marketing-results.com.au/blog/?p=68#comment-1581 We recently had a similar situation but with brochures. We were given sound advice that a tradeshow coming up in Hong Kong fitted perfectly with our target audience. We spent nearly $2,000 on translation and brochure production (roughly half our annual marketing budget) and the result was zero quality sales leads. Your advice is very sound!! We recently had a similar situation but with brochures. We were given sound advice that a tradeshow coming up in Hong Kong fitted perfectly with our target audience. We spent nearly $2,000 on translation and brochure production (roughly half our annual marketing budget) and the result was zero quality sales leads. Your advice is very sound!!

]]>