4 Measurable, Targeted, Low-Cost Ways to Market on a Tight Budget
Is your marketing under increased pressure to deliver results? Are you on a tight budget but still need to increase your ROI?
When it comes to high-pressure marketing, here’s your modus operandi:
Be measurable. Be efficient. Be targeted.
As one executive quoted in another article put it, “There’s already a call for more efficient, measurable media. There’s going to be a greater squeeze on that.”
The pressure on marketing to deliver tangible results is only going to increase. In this sort of high-pressure marketing situation, when results and return on investment are the only way to win, you should hone your marketing around the proven principles of direct response marketing. In a large part, that means using media that is measurable.
What’s not so easily measurable are things like TV and radio, which reach broad but less targeted audiences, and which have a harder time measuring crisp ROI figures. It can be done, but your ads must be created in a very specific way. And even if you advertise on specific channels or particular shows to improve targeting, you still can’t guarantee how many viewers are actually seeing your ads, and what percentage of them are really in your ideal audience.
So which forms of media offer lower cost and higher efficiency – meaning higher response rates – to attract and convert customers? There are four, one of which stands above the rest as you’ll see in a bit. But a robust, comprehensive results-driven marketing plan will utilize many forms of advertising. The focus should be on efficient, effective use of ad dollars with measurable returns on investment.
4 Reliable Media for When Your Marketing Is Under Pressure to Deliver
1. Front Door Marketing
The ability to target specific prospects on their front door offers the best combination of low cost, high efficiency marketing.
There is no clutter to sort through like a mailbox or an inbox. There are no other distracting items like in print media or online. And you can’t just flip away from it like on TV or radio.
Only front door marketing – even if for just a few moments – occupies basically every prospect’s full attention. No form of advertising can get higher impressions than front door marketing. That alone earns it the highest marketing efficiency. And because more of the people you are targeting will see it, more will respond. All you need to do is create a good ad and hire the right company to plan and implement the campaign.
Front door marketing also empowers you to hyper-target for very particular demographics and psychographics. Our targeting capabilities are no less powerful than online targeting, except ours aren’t susceptible to bots and imaginary people.
You can also segment geographically by cities, neighborhoods, zip codes, block groups, or even by individually selected addresses that fit your specific targeting criteria.
Finally, front door marketing is measurable. Depending on your ad’s call to action, you can measure your ad’s effectiveness by number of phone calls, online signups, or visits to your store. The best way to drive in-store traffic is to provide a coupon, game piece, scratch-off, or some other item they must bring in.
2. Direct Mail
Direct mail also has a relatively low cost considering the historically high response rates, but you are up against much greater competition than with front door marketing. First, you have to compete against everything else in the mailbox. But you’re also against the cultural perception surrounding direct mail. You must overcome the ‘Is this junk mail?’ instinct that many people have built up over years of receiving such mail.
As a result, direct mail earns lower response rates than front door marketing. Again, this is not meant to say you shouldn’t use direct mail (or any other advertising media). Only that, as all have their shortcomings, choose the most efficient media mix and segment your dollars accordingly.
The best use of email marketing is generally to your in-house email list. For the acquisition of new customers, it is a much more challenging media. But it is low cost considering the number of people you can reach.
Email is a great media for marketing. But it’s also easy for consumers to miss, as many people have multiple email accounts and get dozens of messages every day. If you’re looking for maximum exposure for your most critical campaigns in your most targeted geographic regions and demographics, email alone won’t usually be enough.
4. Print Ads
These could include any printed material with an ad, from Sunday newspaper inserts to magazines of all sorts. Print ads are certainly measurable – if the ad is properly created. They are also well-targeted, regionally in newspapers, and by niche in magazines.
The biggest drawback comes from the passive nature of print ads. In magazines, the reader isn’t looking for the ad. Thus, it must pull their attention away from everything else around it. They have to choose to look at it. It’s easy to throw away without even seeing it.
What about Online Advertising?
In 2009, during the Great Recession, U.S. ad spending dropped by 12%. Yes, that was a particularly high-pressure advertising climate, but it demonstrates that when the pressure goes up, you will likely need to find places to trim the budget without sacrificing the growth of your business.
Online advertising – broadly speaking – has the toughest time earning consistently healthy ROI. Facebook, for example, saw its overall ROI from ad spending drop by over 50% in 2019. This came in part from some of the recent political scandals. It has affected their users’ trust in what they see on the platform.
Online advertising is fraught with risks like this. What works one year doesn’t work as well the next year. SEO, primary keywords, effective funnels – the trends are constantly shifting, and keeping up requires vigilance and constant adjustment.
In other words – it costs you money.
Thus, when you’re in a situation where you need to trim some percentage of your marketing budget or increase your efficiency, reducing your online spend may be the easiest and least harmful place to find those cuts.
Online advertising is high cost, low impact. Its greatest challenge comes from how easily and quickly people can be distracted by other things on the screen. And, though it seems measurable, the propensity of ad fraud casts doubt on some of your online metrics.
Tried and True Advertising – The High-Pressure Marketing Game Plan
What are your most important goals that you’ve been tasked with achieving while working with a reduced budget, increased scrutiny, high demand for ROI, or all of these? Common marketing goals might include:
- Keeping costs down and traffic, sales, and conversions high
- Keeping your first party data list growing
- Drawing new customers in
- Engaging your target demographics and local customers, if applicable
- Knowing how well your advertising is working
The single best advertising media to accomplish all of this is front door marketing.
Power Direct operates a customer data center that rivals that of any online platform. As mentioned earlier, you can target addresses for just about anything you want. Size of family, number of vehicles, household income, education, and if you provide us with your customer transaction history – customer behavior – that’s just a sample of what we can do.
You can target block groups, cities, and specific addresses. Whoever you want to reach, you can reach.
In addition to hyper-specific targeting, why is front door marketing so effective?
Because the recipient isn’t accustomed to finding something on their front door. It’s new. It’s a pattern interrupter. They don’t perceive it as advertising the way they would if the exact same item appeared in their mailbox.
For instance, which would have more impact for you – a thank you card in your mailbox, or a thank you card on your doorstep? The one of the doorstep gives the impression of being more personal, handled with care, so important that it needed to be brought to your home.
Front door marketing capitalizes on that feeling, and combines it with what are best described as mini-billboards. We are not talking about hanging paper fliers on doorknobs. What we create won’t just blow away in the wind.
These are attention-getting, durable, memorable advertising creations.
Want some examples of the front door marketing you can put on your targeted prospects’ front doors?