Will this help me sell more?
Truth be told, marketing tools don’t sell product! They do however provide the opportunity by creating visibility and awareness.
One of the most common questions I get from potential clients over the years is, “How much more beer will this help me sell?” My response has always been the same—”It won’t, but without it, how do people know that you are even an option?”
In a market environment when there are so many distractions and so much competition, if you don’t grab the eye of the consumer to say that you exist or that you are an option to be considered, you won’t be.
One of the hardest things for businesses is to have a clear measurement of the results of their marketing spend. Quantifying marketing results into sales dollars is virtually impossible! And to be honest, the real value of marketing is to create the opportunity to help guide consumers to your products. Your products should be what sells them.
How do you measure your ROI?
I have always found that the best way to measure the effects is by impressions—the number of people who gain visibility to your brand.
Let’s look at a couple of hypothetical examples of common marketing tactics: social media and permanent POP.
SOCIAL MEDIA POST
Cost: $45 in wages to gather all the items needed to photograph, take pictures and edit, write copy and post to various social platforms.
Audience: Out of your 35,000 Followers, maybe 7,000 are engaged followers who will see your post.
ROI: (Cost/Reach)
$45 cost / 7,000 reach
ROI = $.0064 per impression
PERMANENT POP
Cost: Anywhere from $85 to $200 per sign pending upon quantity, but we’ll say $140 as an average.
Audience:
100 people a day see the sign for 350 days a year = 35,000 impressions annually
Life expectancy = 10 years on average
Total impressions: 350,000
ROI: (Cost/Reach)
$140 cost / 350,000 reach
ROI = $.0004 per impression
So what’s the takeaway?
While these examples are hypothetical, the truth is, the longevity and value of permanent POP makes it one of the most affordable options over time. It is very easy to go with the cheapest upfront costs, but just remember it doesn’t always
yield the biggest results!
Now more than ever, it’s important to look deep into your marketing spend and make decisions that will benefit your business in the long run.
About Steve Friend
Steve Friend is the President and CEO of Antigo Zeon and has more than 15 years of experience helping brands stand out with custom signage and displays. Once an Account Manager for Fallon Luminous Products, his passion for helping companies grow and his desire to keep domestic neon production alive and thriving led him to become the co-founder of Antigo Neon, now Antigo Zeon. Steve is also a loving father of two, a craft beer enthusiast, and enjoys cooking, BBQ, traveling and spending time with great people.