What Is The Best Formula To Maximize Your Advertising ROI
What is the most important step in maximizing your advertising ROI? How do you as a business guarantee that you get the most for your advertising dollars spent?
There is one sure fire way to get the most out of your advertising budget. It is simple, cost effective and works.
Let's take a look at business insider Grant Cardone and see what he has to say about maximizing your ad dollars.
What’s more important in today’s economy? To advertise in every medium including TV, radio, print, internet, Google search, Facebook ads, direct mail campaigns OR to have prepared employees and sales people ready to handle any situation that presents itself?
Are your employees and sales people prepared to handle the traffic your advertising dollars are creating? Are your people trained to convert every opportunity that presents themselves to your company? How do you handle phone traffic, internet traffic, and the people physically walking in your company’s front door?
NY Times bestselling author, business coach and sales training expert Grant Cardone tells us that, “The point of advertising is to generate traffic to your business and to then convert that traffic to a sold customer.”
Grant shows a very clear cut and concise plan to make sure that every dollar you spend on creating traffic is maximized and converted into more sales.
The first step is to require management to prepare the employees and sales staff on how to handle the traffic generated by your company’s ad campaigns.
Then to fully maximize the ROI every peoson in the company needs to be informed about what the ad(s) is all about. From there you want to make sure that you train and prepare your people. You’re a team. All great teams train and prepare. The L.A. Kings did not wing it all the way to the Stanley Cup last year nor did Muhammad Ali wing it with Joe Frasier. Top it off with motivating your people. They need to be in the right frame of mind to deliver a world class experience to your guests and clients.
This is how you ensure that you don’t waste your advertising budget.
Grant will tell you that there is no such thing as an ad that doesn’t work. If an ad fails, more often than not it was because the staff was ill prepared.
So market yourself and market your company and go big while you’re at it! Only make sure you’re company’s employees are fully prepared to handle the traffic, otherwise you may be throwing that money away!
- JCPenney Needs Better Customer Service - Business Insider
Bestselling author Grant Cardone explains.
Over the last 25 years, Grant has been helping retail organizations of all sizes. He has worked with sales organizations. Small business and big box operators and he has found that even with the perfect message or campaign; no matter how great the ad is, in Radio, TV, Internet, Print; it will flop if the staff isn't fully prepared to handle the traffic generated. Your people must be properly prepared.
If a sales organization (JC Penny, for example) is struggling, it is not just about poor advertising, it’s about having an ineffective sales culture and environment. When an employee or sales person doesn't know how to take care of the customer, handle their questions, present product and ask for the order, then it doesn't matter how slick the ad was.
There are direct mail campaigns that can fine tune a customer base and bring you qualified, in market buyers. There are SEO and SEM companies that can deliver the right amount of perfectly qualified phone and internet traffic, but again, if the staff can’t handle it, there will be no conversion.
Grant says, “The amount of effort placed into the research, creation, placement and tracking of advertising needs to be matched with sales force preparation. Start by informing management, then receptionist, the sales force. Prepare them by using sales meetings, and online video with testing to ensure that the entire company knows what to expect and how to handle each situation.”
Your success formula could look like this: Advertising + Engagement = Conversions. Conversions (as you know) equals MONEY. And the reality is, without revenue, without income, there is no company, no business. Your return on investment HAS to be there in order for the ad to not only pay for itself but to pay dividends.
And that dividend has nothing to do with the ads wording, the drop, the geographics, demographics, the pricing of the products or even the offer itself. But what its have to do with is how well your people can execute on the opportunity created by the ad.
"Advertising is the easiest part of this equation, following through,' as Grant says, "is the most difficult."
If you find yourself trying to figure out what happened, why you spent all that money and got so poor a result, you have a way to avoid it entirely.
Grant Cardone has created an online sales training platform so that everyone from reception to management, the sales force and all employees will be well trained, motivated and even tested out before the big spend.
Below you'll see links for both our Automotive specific platform, Cardone On Demand and our Cardone University which is geared towards non-automotive sales organizations.
Both of these platforms will train and motivate your people to deliver a world class experience and enable that your marketing message matches the actual experience with the company.