“Want to increase your return on marketing investment? It’s All In Your Mind…”
Too many business people and marketers remained grounded in one-dimensional thinking habits. Marketing is a tool of the mind, and it’s in the mind where true wealth is made. Before this starts to sound like some kind of New Age lecture, let me give you an example of what I mean.
Let’s say you mail a sales letter to 50,000 people at an average cost of $1 each, for a total cost of $50,000 – That’s a fixed cost. If you get a poor response and only manage to break even then there is a strong tendency for you to give up and say: “Why should I spend $50,000 and go though all that work, only to break even?”
If by scientifically changing and testing a few characteristics of the mailing piece you are able to multiply the response by five, fifteen, fifty or even five hundred times then you are using leverage. The concept of A/B testing for digital marketing or trial and effort is part of the marketing lead generation strategy as an art and science.
How To Massively Boost Your Response…
The sales letter that broke even has the potential for almost infinite change. It’s highly likely that something in the sales letter can be improved to increase response. Often, simply using a stronger opening headline, or making a better offer in the body copy of the letter, a bonus, or trying a different price, can increase response dramatically.
By improving the content of the sales letter, and doing it successfully, you employ the leveraging action of marketing. You’re still sending a sales letter – but it’s not about the physical tool. It’s about the infinite possibilities impregnated in the marketing concept carried by that tool.
How To Never Run Out Of ‘Marketing Budget’
Other than available cash flow, there should be no such thing as a marketing budget. It is a ridiculous idea based on the assumption that marketing is a cost rather than a revenue generator, so the return on marketing investment should be seen a key indicator for sales growth.
If an ad costs $1,000 and the revenue generated from the ad is $1,200, why would you stop the ad just because your budget dictated it? With a scientific approach and providing the cash is available, the marketing budget is unlimited. It is self-generating. Understanding this self-evident truth is the key to marketing leverage and massive business growth.
Your can never truly run out of ideas. In marketing, persistence almost always pays off. Marketing ROI can leverage a losing or a bland idea into something spectacular – if you have what it takes to make it happen. It’s all about thinking out of the box!
Alchemise Consulting is able to assist with “thinking out of the box” marketing campaigns and drive profit multipliers for stronger sales growth.
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