Power Direct Marketing: The Book
Allowing Enough Money . . . And Time
Marketing expenses stimulate growth. Their overall objective is to earn you a return in the form of more profits. The budget should not be a cost item . . . it should be an investment in your company and its growth and profits.
Marketing should also be appreciate for its long-term value. Far too many times I’ve heard the statement: "We tried direct mail once." Or, "Yes, we tried a telemarketing program—it didn’t work." Or something similar.
So what! It is the infrequent occasion when you are successful with anything the first time out the door. There is a reason we have erasers on pencils. Sometimes it doesn’t work the way we want it to work the first time. Or the second.
As with all programs that are "art," there is lots of room for opinion. That is one of the blessings of direct response marketing. It allows for many options. There are many ways to get from where you are to where you want to go.
Test—test—test is direct marketing’s middle name. So, in addition to taking the time it may take to be successful, you also need to budget to be successful. You need to budget to allow for new things as opportunities appear.
A marketing campaign works best when it is maintained; when it gets a steady push over time. Not starts and stops—but starts, slowdowns, followed by speed-ups; i.e., a continuing program.
Can you name three television prime-time commercials you know ran only one time? What about outdoor posters or bus cards—are they in only one location? A magazine or newspaper corporate ad—are they placed in one publication one time?
Sometimes. Rarely! Why? Because your reputation improves with repetition. The more your prospective audience sees and hears from you the more likely they are to become your good customer.
When you budget, you must think ahead, too. Not just for the immediate program, but beyond. To do otherwise is to be counterproductive. Thinking and planning ahead also includes your direct marketing budget.
Budgets are usually conceived for a year at a time. In direct response marketing sometimes for shorter time frames. Maybe for a single project. Which isn’t all good—or bad. Particularly with small budgets, where it may be better to be more flexible. To be able to respond quickly to a market opportunity.
As with everything else in marketing, planning and commitment are keys to success. A commitment to a direct response program is also a commitment to the budget to implement that program. They come as a package.
Which is why budget is an important plank in The 8ight Point Market Action Plan.