Advertising is what most people think of when they talk about promotion. Advertising is probably the most widely used tool in the promotional mix. The purpose of advertising is to inform customers of your products/services and to persuade them to purchase them in preference to the products/services of competitors.
How to Create an Advertising Campaign
Product
What product/s will you promote?
Market Segment
Which market segment/s will you target?
Approach Strategy
What medium or method of approach will you use?
Headline/Attention Strategy
How will you gain the prospect’s attention?
Interest/Desire Strategy
What are the benefits associated with the product’s features? What is your Unique Selling Proposition?
Action Strategy
What action will you get the prospect to take? How will you “add value” or provide incentives to act?
Viability Calculations
How viable is the campaign?
Response Strategy
What will you do once the prospect responds?
Retention Strategy
What will you do to retain the customer?
Patronage Strategy
What will you do to encourage repeat business from the customer?
Volume Maximisation Strategy
What will you do the maximise the size of the sale?
Price Maximisation Strategy
What will you do to maximise and justify your price?
Campaign Viability Calculations
Quick Assessment Formula:
O = P/M
where:
O = the number of orders required to break even
P = the cost of the promotion
M = the profit margin in the sale
For example, if you planned to spend $1,000 on a campaign and the profit margin on each sale was around $50, then the number of orders required to break even would be (1,000 divided by 50 =) 20.
If you look at the number of “impacts” the campaign will have on prospects, you can then determine what response rate you’ll need. For instance, if your campaign was 1,000 direct mail letters then you would find that the 20 orders needed to reach break-even would be (20 divided by 1,000 = .2 or) 2%. If you felt this was an achievable result, the campaign would be worth progressing with.
Restaurant and cafe marketing and advertising where to start?
Businesses can survive for some time with poor record-keeping, insufficient finance or a lack of management skills, but they cannot survive without a market.
Want to know more about restaurant and cafe marketing and advertising?
For a very low investment why not purchase a copy of:
‘How to Discover Your Market’ eGuide and
let us help you to get the most out of your marketing dollar.
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