How And Why Major Corporations Waste Tons Of Money On Totally Whack Advertisements!Part Two
As you previously discovered in part one of this ongoing series, about “how” these major big buck corporations literally waste a ton of money on these highly questionable advertisements.
As was pointed out in part one, a major hotel and casino chain (with plenty) of money, invested (more like completely wasted) a quarter of a million dollars, by paying a fighter that was featured on an HBO boxing match.
They had stenciled on his back the name of their casino. Really? And by early as the third round, just nine minutes into the fight (at three minutes per round) , the stencil was already starting to fall apart, because the fighter was beginning to sweat so profusely.
To the point, that by the fifth round (just 15 minutes in) the entire $250,000 investment was simply an illegible blur! And the only way anyone could know or have any idea what it originally said, was when the fight broadcasters referenced it!
And the main point was, that it’s criminally negligent (not to mention wasteful as all get out) for a cash starved small business owner and or service provider to try and use glitzy (and outrageously expensive) unaccountable image advertising, to try an reach their target market using any specific medium!
Especially, when there are so many far more effective low cost, high impact extremely viable marketing alternatives. To at least inexpensively test,first!
How And Why Your Advertisements Don’t Have To Be Outrageously Expensive In Order To Work!
Again, let’s be crystal clear,the massive multi million dollar marketing campaigns that the major corporate players use successfully, in order to get the word out, is one thing. But spending a staggering $250,000 dollars for a hand written stencil on fighter’s back, that lasted all of nine minutes! That’ s just a bit over the top wouldn’t you say?
Seriously, would any savvy cash strapped small business owner invest even one percent of that amount ($250,000 x .01% = $2,500 dollars) for all of 15 minutes massive exposure or less!
Hope not! Now then, let’s suppose that the marketing committee of the major casino and hotel chain, is seriously considering some other less expensive marketing alternatives, to at least test, in order to see if these particular strategies might actually work better.
Here’s two potential long term marketing strategies, the casino chain might seriously consider adding to their current marketing arsenal. Let’s just start with a rather small investment of 20% of the entire $250,000 dollar allotment.
In other words, let’s take $50,000 dollars or (20%) of the entire $250,00 dollar amount and let’s go out into the local community and find (and or create) an army of local commissioned only affiliates!
Of course, these companies and or individuals probably won’t initially think of themselves as commissioned only affiliates, but when you boil down to what they’ll actually be doing and “how” they’ll be compensated. It’s the exact same difference. That said:
1.) Viable marketing alternative strategy #one: First the major casino (which is actually located in Las Vegas), they’ll first approach three of the top local major cab companies in the area and arrange to offer any and all of the cab drivers the chance to dramatically lower the cost to fill up their cabs! Huh?
Here’s how; they will offer the cabbies extremely time sensitive VIP gift certificate cards that are good for $100 dollars worth of gambling chips, and they can only be redeemed at that particular at the casino, provided they get redeemed before the hand written date on them expires!
And for every $100 dollars worth of gambling chips that get’s issued, the cab driver that referred them, because (either) their name and or some form of ID will be on the back, so the casino’s marketing department can keep track and know whom to credit for the referral etc.
They automatically get 20% credited to them by way of a gas card! So in other words, as soon someone goes to the casino in order to cash (redeem) their $100 dollar gift certificate, that cabby that referred them just earned a $20 dollar gas card!
And at the end of every week, they will either get a call, text and or email about how much gas card credit they’ve earned for the week!
Effective Advertising And Or Marketing Should Generate An Immediate Response From Your Target Market!
(Have You Noticed That!)
(BTW: Did you know that the vast majority of slot machine players are women!) Nod your head, it’s true!
2.) Viable marketing alternative strategy #two: That being the case, the casino’s marketing department will also approach local retail stores that target women with those popular knick knacks, the ladies absolutely adore!
And allow them to offer their $100 dollar gift certificates as free upsell bonus items, for every purchase over say $75 dollars! Or X, because they’ll need to inexpensively price test.
And of course they will advise the store owners to strategically price test for maximum results. And the casino’s marketing department might also suggest to the store owner, that they use the $100 dollar VIP gift certificates as an ethical bride to (either) get video and or audio or written testimonials.
And during the holiday season, the stores will be given enough $100 dollar VIP gift certificates to pass out (say) twenty five a day to the first 25 (or X number of) people that enter their store!
This way, both twitter, Facebook and Instagram etc will be buzzing with nothing but high praise! The net result? More than likely, with just a little strategic tweaking and testing, both the cabbies and the store owners will probably be better off, don’t you agree? And the casino will most definitely start gaining more local visitors, don’t you agree?
Now granted, these particular strategies may not initially work! But for sure they’ll beat the totally whack $250,000 dollar stencil approach! Don’t you think? So hopefully you can see and appreciate why advertisements don’t have to be whack or outrageously expensive in order to work! Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Sometimes corporations do spend lots of money on advertising, it’s a part of their investment,which they tend to recover in next few years.
You cannot say all the time these spend money are waste or not.
Sadek recently posted…Top 10 Smallest Birds in the world
That is so true Sadek.
However, just like I pointed out in the article, when companies large
or small spend major money to brand themselves, that’s one thing.
But spending a quarter of million dollars on a hand written stencil
on fighter’s back, that last all of nine minutes give or take!
That definitely belongs in the not the most cost effective use of
advertising/marketing dollars category.
As far as I’m concerned anyway!
Thanks for stopping by and sharing your thoughts!!