Relationship

Why your ad spend is a waste of money

It is the most important difference between simply reaching customers and actually touching them. For most of us, it’s not that hard to remember the time when TV, radio, print ads, and even (God forbid) telemarketing calls were the only way to get the word out about your business. Successful marketing was based much more on how much money companies could spend, rather than what they were trying to say, and all they were saying was how good their products were. By being on the receiving end of these ads, you’ll know that it doesn’t really work. Kexino’s Gee Ranasinha notes, “We don’t care about marketing because most marketing doesn’t care about us.”

So why are companies still making the same mistake today?

Today many companies, especially the “big players”, spend ridiculous amounts of money for little or nothing. What’s more, these big spenders invariably lose out to others who spend a fraction of the amount on their advertising. As Mahesh Murthy of the Economic Times of India says: “Increasingly, a large ad spend is not a sign of brand health, but of brand disease. If your brand needs to pay to be in the media and can’t work its way there by its own comment, then you’re just not being smart enough.”

This is not limited to traditional advertising media either. With the endless possibilities that the online universe presents, many migrate online only to keep making the same mistakes. There are countless pop-ups, banners, and many other types of ads, all ignored or worse, driving people away despite initial interest in the site.

Today we live in what is often called “The Age of Transparency.” This means that whatever your marketing message is, people will know the truth, and quickly. Furthermore, this also means that if you are somehow the target of a smear campaign, you should be able to prove your innocence. an article of The GuardianScott’s Scott Monty cited the “pink slime” scandal that hit McDonald’s not too long ago. In response to the alleged disrespect for the sanctity of human food, McDonald’s Canada posted a YouTube video showing the entire process of creating its signature nuggets. This not only debunked the smear campaign, but has so far garnered almost 4.5 million views and 9,000 likes.

The moral of the story?

Marketing is no longer about tricking people into thinking your product is more than it is. It has returned to its proper place as a mere component in the overall ‘machine’ of your business (pardon the pun). The most important aspect of your business has always been and always will be the product or service you offer. Make it good, make it sincere and make it something that people want to buy. Everything else is dire (again, sorry).

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