Friday, January 29, 2010

How to Go Broke, Advertising

And how to make money by advertising.

A chapter from my unfinished book, which you can access, free, by clicking here.

Thick vs. Thin

Rarely have I seen a business spend too much money on advertising. Usually they spend too little.

Or more accurately, they try the "thin" method instead of the "thick" method.

The Thin Method: Take a little bit of money and spread it around to reach lots of people using different advertising venues. $25,000 divided between 5 radio stations, a couple tv stations, some direct mail and pretty soon, you'll be out of cash, before it pays you back. Spreading yourself too thin simply doesn't work for most people.

The Thick Method: Pick an advertising venue and dominate it. For example in the radio business, buy ads on ONE radio station, and have them air everyday in the same 4 or 5 hour block of time, and pretty soon, you will become the most recognized business in your profession for the thousands of listeners that hear about you day after day.

THEN.... after you start to see a return on your advertising investment, ADD to your investment with more ads either on the same radio station at a different time of the day, or another advertising venue that fits your business.

This is not a quick process, but it is a process that works, and that's what you really want right?

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