Sunday, February 27, 2011

$100 Idea: The easy way to determine how effective your advertising is….

Richard E. Gagne, D. D. S., with an office in Oxnard, California, never used to be sure which of the many places he advertised his "adult and implant dentistry" ads were generating the most dollars. Then he started listing different phone numbers in different ads that were running concurrently. Now he knows which ads are drawing phone calls, compares response rates to different publications, and allocates his budget accordingly.
 
His business has one line for incoming calls, one for general calls, one for its old yellow page ads, and one for other ads. When people call the third line, for example, he knows that they're responding to his ad in the L. A. Times.

His tracking system has made him a savvy marketer and it saved his dental practice money. "We saw our yellow page ad response diminished four years ago, so we got out," says Gagne, "our competitors are just now realizing the same thing". He has been able to determine 4 to 1 return on his ads. He also discovered that an ad with an 800 number will pull 30% more than the same ad with a local number.
 
Making a business decision is just common-sense, when you have the facts!

Next:  Do you put your customers on hold? How to turn a negative into a positive...

We have just completed a website that lists all the $100 Ideas by category. Every week, we will be adding to the list. Go to 100DollarBizTips.com. If you know of someone who can use our practical information, have them register at the website.

Edward King, MBA CPA
Former Director of Wayne State University's Small Business Services
Telephone: 586-771-3618
Fax: 888-756-2761 (toll-free)
E-mail: EdwKing@aol.com
Websites: TheSmallBusinessDigest.com, 100DollarBizTips.com, SmallBizKing.com (students only)


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