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Branding Tips to Increase Sales

$426 billion wasted on ineffective marketing in 2009!

Posted by Dale Berkebile on Mon, May 24, 2010

Brands at Risk! - image

We have been telling people for years that advertising is a tricky medium to master.

The problem is that a lot of smaller companies do not have the budget to develop the kind of advertising that works. Worse, a lot of the larger companies that do have a budget to work with tend to not know which advertising will be successful.

There is a famous quote by John Wanamaker that says- "Half the money I spend on advertising is wasted; the trouble is I don't know which half."

There is also a quote that Dave Ramsey the financial expert says, stating "Don't ever buy something you don't understand." He is usually talking about investment and insurance tools, but I think it fits for advertising as well. Of course you need to test things and see how things will work and then make edits. You also have to be committed to an ongoing campaign. 1-5 years running regular advertising will give you the experience you need to better understand advertising. If you do not have a budget for 5 years of regular advertising, buy something else!

You have probably already heard us rave about inbound marketing, but for those new to our blog, look into an inbound marketing campaign. It will cost you less and also have provable results through effective analytics.

To learn more about how ineffective most advertising is, read this article by Alterian "Brands at risk of self-destruction as marketers miss their mark."

Here is a powerful thought from the article that solidifies our theory about inbound marketing versus advertising.

…Only 5 per cent (4 per cent UK and 6 per cent US) of consumers surveyed in the report trusted advertising and 8 per cent (9 per cent UK and 6 per cent US) believed ‘what the company says about itself’.  This equates globally to nearly $426 billion  spent on ineffectual advertising activity in 2009 alone.

In stark contrast, the research found that consumers actively engaging in the use of social media feel more in control of relationships and more positive about their connection with brands in general.  A third (31 per cent UK and 35 per cent US) of respondents using social media believe that ‘companies are genuinely interested them’.

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Tags: Inbound Marketing, Marketing

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