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Feb 16 2015

Advertising Effectiveness

  • Author: Jodi Cross
  • Category: ShopTalk
  • Tags: advertising, analytics, brainstorm, calltoaction, campaign, cdm, creative, data, Facebook, investment, marketing plan, marketingmonday, numbers, postdate, recall power, revenue, roi, small business, strategy, visual
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These are common questions that many small-business owners and operators ask. As a business owner you want to be strategic about how you allocate limited advertising dollars. Always begin with strategy. Placing one ad a few times is not a strategy and does not provide consistency or product positioning for your brand. If you don’t have the bandwidth to plan and budget for an entire year consider setting a quarterly strategy with clear goals and benchmarks to measure performance.


There are a variety of measurement indicators to show advertising effectiveness. The most coveted measurement is tied to revenue results. In other words, what happened to your sales during the time period you placed the campaign? Did you get more covers, calls, visits, clients or heads in beds? Tracking tools today are very sophisticated; in fact, there are many ways to look at analytics. You should be reviewing stat’s daily, weekly and monthly to see results and trends. Utilizing your CRM and POS software tools to compile analytical data is great way to view your business with a profitability lens.


There are hard and soft tracking mechanisms. Both should be part of your overall strategy. Once you have your hard POS data compare the output against your business goals to determine your return on investment strategy.

 

For example, let’s take a hotel with an ad for a specific need period.

  • What did the advertising campaign cost?
  • How many covers will it take to pay for the ad costs and production fees?
  • What ROI are you anticipating? What are the industry standards? 2 for 1, 4 for 1, 10 for 1?  
  • Do you have benchmark data from the publication including results of other like clients?

Beyond ROI numbers, there are several soft measurement indicators you should consider:

  • Did phone calls and inquiries increase?
  • Were web site hits up during the advertising period?
  • Did you get more Facebook followers or social media fans?
  • Were there any percentage of sales increases related to the special offered in the Ad?


In addition to analytics and social media indicators, there are a number of creative issues that can play a role in advertising effectiveness.

  • Does the ad have stopping power? Will someone take notice, understand the offer and copy and know what to do?
  • Is your copy and message compelling? One of the biggest issues for business owners is copy overkill or poor copy that leaves the reader confused about the offer.
  • Does the ad have recall power and a strong call to action?
  • Is the ad visually appealing or has everything and the kitchen sink been included?
 

Remember the process begins with strategy! A marketing plan is a living document meant for continuous updates and improvements. For assistance on writing a marketing strategy or reviewing your advertising effectiveness contact Jodi Cross at Cross Network Marketing, Inc. (CNMI) at jcross@crossnm.com or visit crossnm.com for more tips and marketing trade secrets. Our job is to increase your profits and maximize your growth opportunities!

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Testimonials

Read how CNMI improved other businesses:

  • "Jodi and I have been serving on the The Commonwealth Institute Board for many years. As the Executive Director of TCI, she has demonstrated what "execution" is all about and led others to keep our vision alive. Each and every initiative we partnered with touched and inspired many women owned businesses and executives to move their businesses forward; knowing that they have our organization behind them."

  • "From the moment we interviewed Jodi we knew she would be a great asset to our team of consultants. She drove results for our clients, built strong relationships internally with co-workers and externally with clients and partners. She is strategic, able to influence stakeholders and can manage highly complex and cross-functional programs."

  • “I've not only reported to Jodi, but I've worked side-by-side on projects over the course of ten years. I can describe Jodi in two words: Creative and resourceful! As a marketer, she truly enjoys thinking out-of-the-box without going over-budget. She's tough yet logical; smart and funny. We’ve worked together at Doral Golf Resort & Spa and Sonesta Hotels, including Trump International. She’s the kind of person you want on your team, because she’s able to take a project from beginning to end with excellent results. She has strong work ethic and really looks out for your best interest.”

  • "For over 10 years Jodi worked on multiple branding and marketing initiatives for Sonesta. Jodi is highly respected in the industry as a strategic thinker and results oriented brand leader. She has a unique skill set that combines a creative approach to problem solving along with an ability to articulate a clear strategic vision. Jodi understands the importance of integrating marketing from both a corporate prospective and on a property level. She was instrumental in re-branding Sonesta, launching our first loyalty program- Travel Pass and creating Food is Art a brand-wide initiative that took Sonesta to a new level. Her work ethic and focus helped move Sonesta forward."

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