What follows are my random thoughts on advertising your product or service to the readers of these business publications.
1. Newspapers are not dead.
Everyone thinks that the Internet has killed most print media. But it’s not true. What is certain is that you have to watch the costs. Your cost per lead and cost per sale. But, don’t count newspapers and magazines just yet. I have a client who advertises in the Reno, Nevada, newspaper. He posts 3 ads a week for $483.00. He gets about 12 leads a week. And close 40% of leads on a $4,000 product/service.
Those are good numbers. You are paying about $40 per lead with your newspaper marketing. With other means, he admits he pays between $250 and $300 for a track.
Newspapers are not dead. The WSJ and IBD are good ways to generate leads and sales. Readers have above-average discretionary spending money. They are the first buyers. That is, they will often be the risk takers and buy new and unheard of products before they really catch on. Joe Sugarman made a good income with full-page ads in the WSJ in the 1970s selling high-tech gadgets that were new to the market. He operated out of his home base in the Chicago area.
Readers of these publications imagine that they are more thoughtful than other shoppers. So, they’ll read a long-winded ad, feeling like they’re getting information… not talking to a “salesperson.” But YOU, the smart salesperson, know the truth. You know that every advertisement, especially a long-winded advertisement… IS your salesperson. A commission seller who doesn’t sell doesn’t cost you much. But an ad that doesn’t sell costs you a lot.
2. Pay close attention to this concept. Write it. It’s important: People won’t read long ads!
Objective PERSPECTIVES will.
If you want them to spend money with you. You must give them interesting and useful information. You can’t bore them into reading your ad. But if it’s written in a useful and interesting way… Prospects will read any amount of text. If you think that no one reads anymore… then why or why do they buy the WSJ or the IBD? They want information.
They want products and services that help them earn more money… Enjoy life more… Get ahead in their career… Prepare for the future… They want more sex. They want more time. They want solutions to a series of problems that they are having. They want peace of mind. They want pride of ownership. They don’t want to be embarrassed by the decisions they have to make. Can your product/service solve some of these problems? Then YOU should consider advertising on the WSJ or IBD.
3. These are passionate audiences.
Years ago, my mail carrier told me that the two angriest customers on his route were those who DID NOT get their Wall Street Journal…or those who DID NOT get their National Inquirer. Please note: The two extremes in hearings. But both were passionate about their posts. You can usually tell which posts had passionate audiences. It is the publication that has a healthy classifieds section. For example: Popular Mechanics magazine has several classified pages. This is your clue that a full page ad in that post will have a lot of selling power for you: passionate audiences.
4. Newspapers are not dead, but they are fighting.
Therefore, you can negotiate the price. Just like the client mentioned above, if you’re selling a $4,000 product, you can afford to attract potential customers at the cost of several hundred dollars. But you have to know your costs. Lead Generation Cost, Conversion Cost, Customer Repeat Buyer Cost, Churn Cost, etc.
5. Generally speaking, your message on the IBD or WSJ should be the same message you are using on the Internet or in your sales presentations. Especially if you’ve tested your message and found THIS message to be the one that gives you the best response. The buyers that come to you from the newspaper or from the web or from direct mail… they are all the same. Everyone wants the benefits of your product or service. What is your strongest message? That’s the message you want in your newspaper ad.
6. Give your ad a title.
It’s ridiculous how many ads in the WSJ or IBD don’t have headlines. The headline is the part that readers of your ad scan to see if they want to spend more time with your ad. If you don’t have a title, you’re better off not posting your ad. Headlines are so important that for years and years, marketers who test various elements will tell you that one headline can generate 19 times more orders than the same ad with another headline. Give your ad a title and make it good.
7. Note the second “Honey.”
Very often, if you’re selling an expensive item, the prospect will read your ad and be convinced it’s a great deal. But there is a “sweetheart” that you should discuss things with BEFORE the buying decision is made. If your ad is good, they will often cut it out of the paper to use as ammunition with which they can convince their spouse or boss etc. to buy the product or service as well. Give them all the ammunition they’ll need to make a compelling argument. They want the conveniences and benefits you offer, but you have to convince them. Then they must convince themselves. Then they must convince others who might say “Why do you want to buy that?”
8. Call your audience.
Who reads these posts? Investors Contractors. managers general directors financial directors Politicians. inventors Some educators. People who yearn to get ahead. These two publications are read by people who are at the forefront of social evolution. They are the shakers and movers. They are the polemicists of our days. If you want to sell your product to a small portion of your readers, CALL THEM. Say: Investors beware. However, ATTENTION ENTREPRENEURS. Etc.
9. Talk to each group of readers.
Some people are visual. Some are sensitive. Some are accountants. Some are audio types. Do you hear what I’m saying? Can you see the good in this? Doesn’t this fit your way of thinking? You can describe the same house as full of light coming through the windows. Or build to withstand the strongest winds.
10. Repeat yourself.
Repetition is the juice of good direct response advertising. If you make a statement once, it won’t sink in as easily. But if you say the same thing three different times, from three different angles, it increases the chances that the reader will OWN the idea and think it’s his idea to own the product.
11. Repeat yourself.
Brand advertisers repeat the message many times over the course of a year. Direct response advertisers should repeat the selling points in the same ad, long enough for it to be created and acted on.
12. Give them a call to action.
It is one thing to present your arguments for the purchase of your product or service. But you have to tell them what to do next. Call now. Order by Wednesday for a free sample. Mention my name for a special delivery.
13. Use a “small talk” approach.
Most of us have emotions. We don’t want to do business with a nameless, faceless corporation. We want to deal with a real person. We want to trust the seller. We want to know that you have done your homework and feel our pain. We want to know that your solution has been tried and tested. That others have tried it and are delighted with the results. Consider the Chrysler and GM bailouts of today… with the Chrysler bailout in the 1980s under Lee Iacocca. Mr. Iacocca splashed his face in every ad that came out selling cars. He spoke to us “man to man.” We felt his honesty and sincerity. Chrysler sold a lot of cars then. Today, the bailout of the auto companies has no name… no face… no one with a home that we can identify. Deep down in our souls we hate collectivism. We want to deal with someone who is real. Someone to sit with us and have a “fireside chat.”
14. Use these ideas and you can be a tireless advertiser.
Even in a medium that apparently seems expensive. But when you measure cost per lead and cost per sale, it’s likely to come out much cheaper than a $1 ad.
Call me if you want to discuss these ideas for your marketing.