When it comes to advertising and event marketing, we need to spin the old broken record, yet again … “If you can’t track it, don’t do it!”
Most events waste mountains of money on ineffective advertising and marketing. How is this possible? The answer is that most events fail to track the effectiveness of their advertising and marketing at the most basic level.
Instead of just waiting to get a visual of your event crowd, you need to ask yourself, “What is our most effective form of advertising, and how do we verify the results?” Hard data will always trump opinions when it comes to advertising and marketing.
Sage advice: “Never stop testing, and your advertising will never stop improving.” –David Ogilvy
Event Profit Action
Most events can reduce their advertising budgets by 50% or more and still sell the same amount of tickets. How is this possible? You have to hold your marketing and advertising staff RUTHLESSLY ACCOUNTABLE! How will you know that your advertising is working if you don’t have a quantifiable means of tracking its effectiveness? You must use a quantifiable means to test and track everything.
Ultimately, the use of a specialized marketing process and technology can reduce event advertising and marketing costs to almost $0. Just to be clear, just because you can doesn’t necessarily mean you should. This might sound a bit contradictory. Here’s the takeaway … if you can make your advertising or marketing so effective that you can’t lose – you should spend every dollar you can. Ask yourself, “if you spend a dollar and get two dollars in return, how often would you repeat the process?
By the way, advertising agencies DON’T want you to know the information above. Because it gives you and your organization a tremendous amount of power. Advertising agencies are great at taking your money and spending it. Hold them accountable for getting you the only thing that matters here—money in the bank!
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