Summary:
Small and medium sized business can waste significant money on old style advertising. But there is something new, and more compelling…
Episode Topics:
Alva’s very corny quote: “The High Tech and High Touch way of maximizing your advertising dollars”
Failure of Traditional Advertising:
- Internet (Banner Ads — 1% click-through is considered success… really?)
- TV (requires a lot of money to be successful)
- Newspaper (dying medium — intro of “Boom Boom Effect”)
- Yellow Pages (good for propping up your computer monitor)
Advertise by giving away value, build community and relationship with customers: Incorporates social networking and viral campaigns.
Jakob Nielsen Eye Tracking Studies: avoid banner blindness
Write articles (give away useful info, charge for specific info)
How to target an audience to grow your business:
- message is focused enough to be effective
- promise something of interest and give away value
- User focused, give them content they are looking for
Telematics Weekly example for appropriate ads, they describe in detail their advertising strategy.
Product placement examples: “ET” and “The Biggest Loser”: integrate advertising into the show. AM radio does this well, host of show talks about product, leveraging established trust.
Website:
- publish articles
- create brand identity via social networks (Twitter, Facebook, MySpace, etc.)
- must be creative and consistently refine your branding
Viral Marketing: