Have you ever heard of the book by Brian Tracy called Eat That Frog? If not, it is an excellent read that gives you insight on how to become a better time manager. If you haven't guessed it, the frog is the project or problem you are putting off or facing at the time.
Today, I am working on my frog--the presentation material for tomorrow. So instead of writing my own material for this blog I will share one more article I thought was worthy.
Copywriting Selling Secret #3 - Slash Your Expenses
Copyright © 2007 Scott Bywater
A few years ago, I analysed the statistics of where one of my clients, M & M Pest Control in Sydney, generated all their leads from. As a result of this, Ray Milton, the director of the company said:
"Scott measured the results we were getting from our advertising, and as a result, this confirmed my decision to eliminate over $42,000.00 in unnecessary expenses --- because it wasn't paying it's way."
$42,000 is a lot of money, in anyone's language!
What did I do? I simply analysed his advertising expenses, and identified whether or not the ads were generating a strong yield for his investment.
And I'm willing to bet you could do the same for your business.
Right now, you're probably thinking... in the words of Pauline Hanson...
Listen. I've met with hundreds of businesses that advertise in the Yellow Pages. And most of the time, I ask them "What return on investment do you receive as a result of your advertisement?"
To which 9 times out of 10, the answer is as good as a blank stare!
How much money are they burning? Investing $20,000 on an ad (or $1,000 or $5,000, or $100,000 --- the same principle applies) and not even know what their returns are!
Would you hire a salesperson and not "give a toss" about how much income he was generating.
No! No! No!
So why on earth would you do it with your advertising dollar?
Some people say it's too hard. Their staff won't find out for them. My advice. Fire those staff, because they are costing you BIG money!
Listen, all you need to do is:
1.Code all your ads with a reference code to identify the source of the inquiry
2.Train your staff to ask one simple question: "Where did you hear about us?"
3.Enter the details into your computer.
4.Analyse the statistics.
And you need to be as specific as possible. One of my clients, a spit-roast caterer in Sydney measured the results of a series of ads in the local yellow pages directory. You know what he discovered? Only one of the directories was generating a strong return on investment --- the rest were losing money!
Priceless knowledge. And in the world of advertising...
KNOWLEDGE IS POWER
So unless you want to be like John Wannamaker, the "father of the modern department store" who once said "I know that half of my advertising is wasted, I just don't know which half it is" then grab the bull by the horns and start measuring the results of every ad you run. right now!
P.S. You.re going to be really excited when you see property tip #4 because I'm going to explain the one fatal mistake that will instantly ruin your response, even before you place the ad or send the letter, no matter how powerful the copy is!
About The Author:
Scott Bywater is well known for getting results as a professional direct mail copywriter. And also the author of Cash-Flow Advertising. To get a free subscription to his "Copywriting Selling Secrets" newsletter where you'll discover the truth about why most ads and sales letters don't work (And how to make yours different) scamper over to his web site at: http://www.copywritingthatsells.com.au/