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Profit-Driven Marketing
We've all heard that "marketing is the lifeblood of every successful business." Regrettably, too many businesses don't know whether their marketing programs are breaking through the competitive clutter and contributing to profitability.
Whether you're Nestlé, which spends over $11 billion in advertising annually, or a sole proprietorship that spends $500, it's more important to understand the quality (effectiveness) of your budget than it is to increase quantity (spend more). You may have heard the story about department store owner John Wanamaker complaining in the late 1800s that "half the money I spend on advertising is wasted; the trouble is, I don't know which half."
Knowing which half is obviously the critical question. Consequently, it's important to measure marketing response and effectiveness—both quantitatively and qualitatively.
That's because your marketing communication must appeal to both head and heart. Despite analytical measurement systems it's impossible to perfectly quantify the communication effectiveness of every marketing dollar. Research done at UCLA indicates that approximately 93 percent of communication effectiveness is determined by nonverbal cues. That means that only seven percent of our communication is accomplished through words. So, in addition to the words it’s important to ask questions like: How do you treat your customers? What is your tone of voice? What are your brand values?
That's why marketing will always remain art as opposed to science. So, as you search for trusted marketing advisers, look for Zen masters who understand both head and heart, as opposed to experts selling the latest trends or definitive answers .
Karl Buhl Consulting will determine the right balance of marketing elements for your business, including:
• Trade Shows
• Public Relations
• Advertising
• Collateral Materials
• Internet Marketing
• Governmental and/or Trade Advocacy
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