Double Your Marketing ROI in 2011
Here’s the advertising landscape for 2011! Carat; a leading independent media agency forecasts total ad spend in the US to increase by 1.7 percent in 2011. “All media are expected to return to growth, except for the newspaper sector, which, along with magazines, is expected to be the weakest performer. The two biggest areas of growth are internet and television, followed by radio, outdoor, and cinema…Online continues to capture a bigger percentage of the media spend in 2010 at 11.3 percent, increasing to 12.1 percent in 2011”.
The trend towards mobile smart phone devices to engage people on the move cannot be over-emphasized.
Now, given this landscape let me ask you the following questions:
· What is your advertising strategy for 2011?
· What is your plan to minimize advertising leakage or waste?
· Do you have an integrated marketing strategy across all your media channels to maximize advertising message, leads, and conversion?
· Do you have measurement in place to know which channel provides the best ROI, and more importantly, to quickly adapt to changing response, leads, and conversion patterns?
The average auto dealership spends about $50,000/month on advertising, in a combination of TV, newspaper, magazines, radio, direct mail, and internet. The critical question is whether all of these channels are integrated in a way where each channel provides input into the other that validates the dealer’s brand message.
The most ROI effective, integrated advertising strategy must encompass the following segments and the appropriate online platform to enable seamless execution:
· TV:Already a fixed cost. Add your contact number and website info, plus incentive, for viewers to respond to your shortcode keyword.
· Newspapers, magazines, radio, and direct mail: A contact phone number, website, and keyword are critical. A response to your shortcode keyword allows you to direct customers by smart phone to your mobile websites, YouTube and social media sites.
· Your online website:Must be well planned, easy to navigate, and SEO optimized. Add a call-to-action to your shortcode keyword.
· SMS text marketing platform (opt-in):For people on the go! Engage them with coupons, discounts, and contests.
· Automated submission of ads on youtube and social media:Your presence in this space without a lot of effort and resources is key.
· Automated mobile website capacity:Critical in today’s smart phone environment. To engage Generation Y.
· Tracking and measurement:A separate keyword by channel allows you to track responses, leads, conversions, and ongoing customer lifetime value.
Having your prospects’ keycode contact number, allows you to send them periodic new sales specials/coupons and maintenance reminders/coupons for existing customers.
Now, you are wondering how you could do all that without additional expense. First, implementing this for six to nine months should show you which channels have ROIs below your baseline. Second, potential incremental sales from this strategy should more than make up for any new expense.
Position your company today to capitalize on the new advertising landscape by integrating multi-media strategies to improve your ROI.
Michael Ofori is President of MVO and Associates, LLC, a multi-media advertising agency and can be reached at 978-631-0363 or email firstname.lastname@example.org.