Sunday, August 6, 2017
Monday, February 23, 2015
Advertising and Marketing in 2015
Problem many companies face today is growing cost of advertising. Sure their are endless selections of companies, but normally until recently they all have virtually utilized the same business models with only a few different variations. Endless selections of advertising companies that provide expensive monthly coupon mailers or giant deal sites that pocket 50% of your sales revenue which is directly deducted from each customer purchase. Many businesses go for the big names and big price tags, but does this necessarily provide the best results? Many businesses both large and small pay for advertising for their social media page in an effort to get page likes or followers, but when asked 99% cannot honestly answer tell you the value or return on marketing investment (ROMI) of a page like or a follower. Are most businesses slow to adapt or are the scared of change as depicted by the book titled, "Who Moved My Cheese". I spent over a decade researching Porter's Five Forces and industry research in an effort to create an avenue for businesses to escape the stranglehold of these costly and outdated business models. Outdated advertising companies are financially crippling small businesses across this great nation. You must have asked, "surly their must be a better methodology for promoting my business?" Well I say to you, yes I have created the business model that allows your business to keep an estimated 90% of their advertising and marketing dollars where the belong - in their pocket!
Outdated Advertising Models
Coupon mailers are bone crunching for small businesses and while they might be sent to many homes well all unfortunately know where they end up! The small businesses advertising dollars end directly in the trash! Ask your friends and neighbors if you can have their coupon mailers and based on my personal experience 99% will have already thrown them away. Times have changed and people are honestly sick of having to fight through a stack of coupon mailers after an 8 hour shift.
Other Problems with the Old Coupon Mailers:
1. Coupon Mailers are Not Mobile
2. Cannot be Shared with Friends via Social Media
4. Monthly Fee
5. Cannot be Edited
6. Cannot Even Tell the Advertising Business Basic Analytics, such as How Many Times a Coupon has Been Viewed.
7. Cannot Limit the Number of Deals Per Customer Account Utilizing a Technological Solution
8. No Customer Retention Models
There are many more effective methods for advertising that customers actually use in 2015.
The Giant Deal Website
The giant coupon sites are pocketing 30% - 50% of each customer purchase or in other words pocketing half of the businesses sales revenue. It is hard to figure out which is worse, coupon mailers that cost thousands every month that end up in the trash or deal sites that pocket the small businesses hard-earned money. Negative impacts from these coupon sites especially hit businesses that provide a product to consumers. The known rule of thumb for any business in regard to profits is the rule of 2-1. For example if a business purchases an item it plans to sell for $5 dollars it must sell this item at or around $10 dollars if it wishes to maintain financial stability. If a business is forfeiting 50% of their profits then financially instability incurs. Another major factor that is often over looks is the fact that these giant coupon sites do not reinvest their money in the local community that they took money from. These advertising business models dilute the purchasing power of the local business, local consumer and the local community and increase financial instability of the local businesses within the community.
Overview of Problems with Giant Coupon Sites:
1. Advertising Campaigns Normally Only Run for 3 Days to 7 Days (Short Term)
2. Pocket a Large Portion of Your Sales Revenue
3. No Customer Retention Models
4. Advertising Business Must Wait for Funds to Process
5. Hard to Maintain Financial Stability While Giving Up 50% of Your Sales Revenue
It's 2015 Advertising has Gone Mobile and Their Are Better Alternatives Out There
Wizhunt Advertising Video
Advertising With Mobile Coupons
Today, virtually everyone has a smartphone and virtually 95% of the world with cell phone access has at least 1 social media account. When someone needs something they go directly to the Big G and quickly and effortlessly find what they are looking for in a matter of seconds. People with cell phone access spend a considerable amount of time on social media.
1. Wizhunt is Mobile Friendly and Mobile Coupons are 10 Times More Likely to Be Redeemed
2. Customers and Website Viewers Can Share Your Coupons with Friends and Followers via Social Media.
3. When Customers Share Your Deals They Provide Their Friends and Followers a Direct Clickable Link to The Business Advertisement.
4. Sharing of Coupons From Wizhunt Tracks Social Media Distribution Analytics.
5. Customers Can Rate Your Business and Coupons and a High Rating Will Be Seen By Website Viewers, Potential Customers and Current Customers Which Can Build Brand Image and Credibility.