Getting The Most of Your Advertising Dollars PRstore

HOW TO GET THE MOST FROM YOUR ADVERTISING DOLLARS

Presented by:

Wynne Angell

Angell Consulting/PRstore

Q.

How much is your marketing budget?

……is it enough?

GETTING THE MOST FROM YOUR ADVERTISING DOLLARS

• Determining the appropriate marketing budget• Orchestrating an effective marketing

campaign• Avoiding biggest budget busters• Developing effective partnerships

DETERMINING THE APPROPRIATE MARKETING BUDGET

AVERAGE COST PER SALE?

LOW: $2,000

HIGH: $25,000

Your Cost per Sale

Cost per Sale = Total Marketing $$$

# of Sales

Example

Current Year Actual:

$250,000/45 = $5,555

Next Year’s Projections:

52 @ $5,555 = $288,860

Other Things to Consider:

• New Competition• Current Market Conditions• Rising Costs from External Vendors• New Collateral Materials• Website Development

ORCHESTRATING AN EFFECTIVE MARKETING CAMPAIGN

3 Components:

• Target Audience• Compelling Message• Effective Medium

Communications MediaThe types of media categories

include the following:

• Print• Direct Mail• Web

• e-marketing• TV• Radio

Q.

What are you spending your money on and is your investment

paying off?

AVOID BIGGEST BUDGET BUSTERS

• Low Resident Satisfaction• No Plan or

Ineffective Plan• Wasting Leads

• Stuck in our ways• Recognize when

things aren’t working• Accountability

TOP 10 SAVING STRATEGIES

1. High Resident Satisfaction = Referrals

2. Have a Marketing Plan, Budget, and Timeline

3. Spend Money on Things that Work

4. Take Advantage of Savings Opportunities

5. Follow Good Procedures

TOP 10 SAVING STRATEGIES

1. Make Every Lead Count

2. Develop the Right Message

3. Bring Marketing Strategies into the Future

4. Focus on Effective Sales Management

5. Develop Effective Partnerships

CHOOSING EFFECTIVE ADVERTISING PARTNERSHIPS

Options:

• Marketing/advertising developed and executed by marketing staff

• Marketing staff coordinates advertising with the use of outside vendors/free lancers

• Corporate or management companies provide• Marketing staff/corporate use advertising

agency

Q.

What is the most effective?

Benefits of an Ad Agency

• Allows marketing staff to focus on sales• Provides opportunity to tap professional

expertise – copywriting and design• Creates additional value from outside

perspective• Limits the number of vendors

WHAT TO LOOK FOR IN AN ADVERTISING AGENCY:

Strategic Ability and Approach (25%)

Chemistry (25%)

Results Oriented (20%)

Creative Approach (15%)

Compensation (15%)

QUESTIONS?

OPPORTUNITY

“We are all faced with a series of great opportunities brilliantly disguised as

impossible situations.”

- Charles Swindoll