How to waste money on advertising

 July 12, 2016

Back to the basics: Health Care Marketing Revisited

How to waste money on advertising.

There’s a famous old saying in marketing communications attributed to department store pioneer John Wanamaker. He is said to have said, “Half the money I spend on advertising is wasted. The trouble is, I don’t know which half.”

We should all be so lucky.

There are legions of advertisers whose effectiveness is much, much lower. And many who would be better off if they just put the money back in their pockets. Although it seems counterintuitive, they’re the ones who spend too little. In attempting to be frugal they are, instead, being foolish.

It all comes down to the simple fact that if you don’t spend enough money to be noticed, the money you do spend buys nothing. Think about it. Your prospects—no matter your product or service—are bombarded with thousands and thousands of sales pitches every day. It’s practically impossible to open your eyes, no matter where you are, and not see a commercial message of some sort. Signs and billboards. Radio and television commercials. Newspaper and magazine ads. Pop-up ads, banner ads, search ads, videos, e-mail solicitations, so-called “social media” money-making propositions, and other online offerings every time you turn on your computer.

Almost all of these thousands and thousands of messages are ignored as irrelevant. A few attract notice. Fewer still engage interest. And fewer still are remembered.

Unless your message is out there often enough, you don’t have a chance. No one will see it, lost as it surely is, in the shuffle. It takes a certain amount of money to have any opportunity to be heard in all the din.

But take heart. All is not lost.

Even with a minimal amount of money, you can achieve success. With expertise and creativity in establishing objectives, devising strategies, crafting messages, and efficiently utilizing media you can earn a return on investment that far surpasses expectations. Your effectiveness can far exceed those who spend far more.

Who knows—you might even do as well as Mr. Wanamaker. ?

Next time: How to spend money to make money.

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