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October 2018

Viewing posts from October , 2018

Market Like You Mean It! (Part 5)

How to Calculate your Marketing ROI

“The real test of good promotion is: Are you getting an effective exchange? The exchange may be communication, it may be goodwill, but – are you getting exchange?” L. Ron Hubbard

When starting a new marketing venture or evaluating an existing one, the first thing you want to do is to calculate the cost. You would want to do this for each individual marketing action or promotional item.

This is a simple example of calculating your Return on Investment, or “ROI.”

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Market Like You Mean It! (Part 4)

Marketing Exchange

In this post, we are going to take a look at the economics of marketing, what you should spend on your marketing and promotion, and what you need to expect in return.

What is effective exchange?  How much is effective exchange? How do you know you are getting effective exchange?

In today’s social media market, creating ads and hoping that paying for those ads aren’t costing an entire year’s revenue is a daunting task.  It is so easy to just throw an ad up on Facebook these days. But done incorrectly, and you end up wasting a lot of money. In his series about effective marketing, Mr. Hubbard stated:

“Marketing is the activity of creating want which can be supplied and it enters into economics the moment that one acquires exchange for it.  This is where it subdivides between marketing and economics.  One has to market, so as to obtain an exchange, when one markets commercially.

“Therefore, any technology or activity which can create want to the degree of obtaining an exchange for it, for any service or commodity, is marketing.

“The second you start supplying goods, you’re into the field of business management, accounting and all the activities of industry.” 

Marketing is an investment. After all, you’re putting your valuable money into something that may be unpredictable or risky, especially if you don’t know how to measure the success of your campaigns in the first place.

To avoid this vicious circle, let’s establish a few stable facts first.

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Market Like You Mean It! (Part 3)

Advertising

“The basis of advertising is: You have to attract, you have to interest, and you can then get your message across.  It’s in that sequence.” – L. Ron Hubbard

This sequence is often violated, when ads and commercials are trying to get their message across without first attracting the interest of the viewer. The result is that the ad or commercial isn’t even seen by the viewer, much less duplicated.  How many times have we simply muted the TV or changed the channel when the commercials come on.  Yet for some reason we are glued to the TV when the commercials during the Superbowl come on and we never seem to forget those commercials either.  It is 1. Attract, 2. Interest and 3. Getting your message across.

You’ve probably seen this in ads all around us.  But now look at an ad and ask yourself, “Did it attract my attention?” “Did it interest me?” “Did I get a message out of it?”  When you can answer “yes” to all three questions, you can safely say it’s a good ad.

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Market Like You Mean it! (Part 2)

The Product in Marketing

Marketing is not only all about advertising your product.  It is the conceiving and packaging and moving of a specific product into public hands.  So, who is your public and how do you know what product would be remunerative for your business to produce?   This starts with an idea and ends with the response you get from your public.  For example, in today’s market that would be in the form of “reviews” on Google or endorsements on social media.  Imagine marketing is a flow line which would go as follows:  IdeaResearchDevelopmentProductionSales Response.

 “Your first step is you’ve got to have a product to market that will market.”  L. Ron Hubbard

That would seem like a truism, a “duh,” but this is among the top five most violated marketing principles.


For example, Colgate Kitchen Entrees, a food brand brought by the toothpaste giant. A famous flop, because who wants to buy food that might taste like toothpaste?
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