It is essential to share your marketing data with our advertising partners. Data like your cost per lead, allowable, average sale, even the psycho-graphics of you your costumer is critical to an effective media campaign. Here Jessica discusses why it important to build a partnership with whomever is placing media on you behalf.
It’s very essential that you share that information with the person who you’re turning to the place media on your behalf. The more, you know for example, if I’m working with you, the more I know, the better job I can do. And when I get in to a situation where people feel that’s confidential information, I’m not going to be able to do a good job and I’d rather – I’d rather build a partnership where I can really make an impact because you’re sharing that information with me. If I’m shooting in the dark, I can’t do my job effectively and I’m not going to get the results that you need because you’re not giving me the data I need to perform for you.
Yeah, if somebody gives me full disclosure on their allowable, their cost per lead, their average sale, their psychographics of their customer, I can do a very effective job because in addition to research, I have years of experience that will tell me, I can reach that target here and I can do so within the cost per lead by spending this much.
if I don’t know a budget, I can’t give you the best way to accomplish your goals. In other words, if you tell me your budget is $20,000, I can develop a whole surrounding mass media campaign against that budget. Whereas, if you give me a budget a $5,000 I can still build an effective campaign but it will be vastly different from, you know the campaign that would be built with a higher budget. At the same time if you tell me your budget is $20,000 and I can accomplish your goal by spending 10, that’s the partnership we’re building here. I’m going to tell you how to achieve the results and I’m going to give you advice on how much you need to spend tom do so.
I never test a medium or a new message with more than %20 of my over-all budget and also I never make a rush decisions. So when you’re testing anything whether be a new message, a new media, a new outlet within the same media, I put a small percentage of the budget towards that and I watch a week of results and it’s going to be methodically. So you watch the first week. Let’s say it takes off, you then want to do an additional test the following week before you start to scale against those results because you really want to make sure it wasn’t an anomaly. You want to know, this is a real result that holds through over time.
So there’s a point in any media campaign where you hit a diminishing return. There’s only so much money you can spend in a week to get the number of leads in that you’re looking for. And that’s because there’s only so many people who are going to respond to your message. So you want to get that point in any media campaigns. So in addition to spending a certain amount of money per week in any given market, it’s the same holds through with any media outlet. For example, you can buy ten spots on a station and hit your cross per lead. But if you were to buy 12 spots on that station in a given week, all of a sudden you’re out on the diminishing return because those two additional spots just take you over the hump of the number, people who are going to respond to respond to your message in that amount of time.