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Casual Articles - How To Waste Money Advertising
How A Tree Can Help You Grow Your Business esigned logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company.A tree is a natural example of a perfect business. It energises us with fresh oxygen while recycling our waste air. It absorbs energy directly from the sun while we still have to digest food. It aligns with the forces of nature. Imagine your business is like a tree. Is your business growing each year and producing ripe results? Or is it stunted and withering.Here are some ways that you can regenerate your life and business using the wisdom of a seed, a tree and a forest.1. The Seed That Grows A Forest.Look at a seed. Perhaps an apple seed. It has an entire apple tree enfolded within it. This one seed can start a tree. Perhaps a whole forest. Now apply the same thinking to your business. What seed vision animates your business? Where is the heart in your business? What makes it breath and live? The answer is YOU. Your business vision must support your life vision. What is my life vision, yo 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons What is Accounts Receivable Factoring? They say that fifty percent of your Ad budget is wasted. The only problem is, nobody knows which fifty!Do you have clients that take up to 60 days to pay their accounts receivable? Waiting months to get paid for your invoices can wreak havoc in your company’s cash flow, especially if you have to meet payroll, pay suppliers and pay rent. But what happens if your business can’t wait to get paid because it must meet its obligations?One solution to this problem has been gaining popularity recently. It’s called accounts receivable factoring and it allows you to turn your slow paying receivables into cash, almost immediately. It works by selling your receivables to a factoring company, who in turn, pays you on the spot. This provides you with the necessary cash flow to pay suppliers, rent and salaries.Selling your receivables to a factoring company is relatively simple. It can be done with a 3-step process:You deliver goods/services and issue an invoiceYou sell the invoice to th Well it's your lucky day, because over the years, I've uncovered many key areas where advertising dollars are squandered, misspent, misdirected and misused. But first, I think it's important to define which advertisers are likely to be the most wasteful. 1. Companies that don't use professional media-buying services. 2. Companies with in-house agencies that lack the expertise to buy media correctly. They save the standard 15% agency fees, but waste way more in weak creative, poor media planning and overbuying (it impresses the boss to hear or see his company name every 3 minutes). 3. Businesses that simply don't use the proper media to reach their target market. 4. Businesses that rely solely on their Agency. Although Agencies are usually very adept, honest and have the company's interests at heart, they may not be quite as frugal with their client's money. It is wise to hire an inside marketing professional to be your liaison. 5. Companies that lack a leadership approach in their creative and simply follow the same old - same old. These are just a few examples of the kind of companies that are wasteful when starting up an advertising campaign. Let me say that we are talking about wasteful - no successful. In fact, many of these companies are major players as well as spenders. That being said, I only wish I had the money they wasted. So, what are the most wasteful advertising practices that go on day after day? Let's start with Print. 1. BUYING FULL COLOUR, FULL PAGE ADS They're simply not necessary unless the colour of the product is integral to making a sale. ie: fashion collections, paint, wallpaper etc. The fact is, when you take a full page ad, there is no competition. You dominate. Your message is absolutely getting through. Colour ads will serve you much better when you want your ad to stand out on a page filled with ads. Don't get me wrong, I think full page ads say something very important - THIS IS BIG, DON'T MISS OUT! But I believe spending extra money for full colour is generally unwarranted. And really, newsprint colour rarely does justice to the product. 2. BILLBOARDS WITH MORE THAN 7 WORDS Here's a real money waster. People are driving by at a fair clip, and some companies actually expect them to read sentences, paragraphs and even instructions. Can you believe? And what's with the 5 point type? Yes, we know it's big when you stand on it, but from the ground.... 3. ADS DESIGNED FOR FREE BY THE NEWSPAPER There may be plenty of talent in the graphic departments of the nation's newspapers, but truth be told, they'll never give you cutting edge creative with font finesse, eye-catching headline and motivating body copy. Why? They simply don't have the time. It's a sausage mill environment typical of most media that offer up free production services. Bottom line - it wastes your money because it lacks impact. It may even lower your customer's perception of your business if the design qualities lack taste. 4. BAD LOGOS When it comes to branding, your logo is key! Nothing irks me more than a poorly designed logo. If you plan to be in business a while, invest in a properly designed logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company. 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons 3 Lessons From My Levi's Although Agencies are usually very adept, honest and have the company's interests at heart, they may not be quite as frugal with their client's money. It is wise to hire an inside marketing professional to be your liaison.One of the things I like about giving presentations to companies is meeting a new group of people and exchanging ideas with them. After a recent talk, several attendees and I had a great discussion about the power of branding.Later while changing my clothes, I was reminded how Levi Strauss & Company is one of the best in the business at branding. Just before I stuck my legs in the jeans I noticed a printed message on the outside of the inside flap of the pocket. From this short note, I’ve pulled three lessons that can maximize your brand.Be Different: Often when you buy clothes the only message you get is a piece of paper telling you that it’s been approved by Inspector #5 or worse, a sticker that ends up sticking to you! Some companies do have attached messages about their products. But they’re gone once you remove them.Levi’s uses a non-traditional yet permanent lo 5. Companies that lack a leadership approach in their creative and simply follow the same old - same old. These are just a few examples of the kind of companies that are wasteful when starting up an advertising campaign. Let me say that we are talking about wasteful - no successful. In fact, many of these companies are major players as well as spenders. That being said, I only wish I had the money they wasted. So, what are the most wasteful advertising practices that go on day after day? Let's start with Print. 1. BUYING FULL COLOUR, FULL PAGE ADS They're simply not necessary unless the colour of the product is integral to making a sale. ie: fashion collections, paint, wallpaper etc. The fact is, when you take a full page ad, there is no competition. You dominate. Your message is absolutely getting through. Colour ads will serve you much better when you want your ad to stand out on a page filled with ads. Don't get me wrong, I think full page ads say something very important - THIS IS BIG, DON'T MISS OUT! But I believe spending extra money for full colour is generally unwarranted. And really, newsprint colour rarely does justice to the product. 2. BILLBOARDS WITH MORE THAN 7 WORDS Here's a real money waster. People are driving by at a fair clip, and some companies actually expect them to read sentences, paragraphs and even instructions. Can you believe? And what's with the 5 point type? Yes, we know it's big when you stand on it, but from the ground.... 3. ADS DESIGNED FOR FREE BY THE NEWSPAPER There may be plenty of talent in the graphic departments of the nation's newspapers, but truth be told, they'll never give you cutting edge creative with font finesse, eye-catching headline and motivating body copy. Why? They simply don't have the time. It's a sausage mill environment typical of most media that offer up free production services. Bottom line - it wastes your money because it lacks impact. It may even lower your customer's perception of your business if the design qualities lack taste. 4. BAD LOGOS When it comes to branding, your logo is key! Nothing irks me more than a poorly designed logo. If you plan to be in business a while, invest in a properly designed logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company. 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons Communicating with Financial Analysts about Stock Options Backdating ssary unless the colour of the product is integral to making a sale. ie: fashion collections, paint, wallpaper etc. The fact is, when you take a full page ad, there is no competition. You dominate. Your message is absolutely getting through. Colour ads will serve you much better when you want your ad to stand out on a page filled with ads. Don't get me wrong, I think full page ads say something very important - THIS IS BIG, DON'T MISS OUT! But I believe spending extra money for full colour is generally unwarranted. And really, newsprint colour rarely does justice to the product.Most Financial analysts (Buy and Sell Side) are likely aware of the inquiry from the SEC into your company. Your Investor Relations organization has to be:a) Proactive about communicating b) Forthright with what they know and dont know c) Resist speculating the outcomes and possible causality d) Be clear about timelines and milestones e) Be honest about impact to employee morale, customer momentum and partner/supplier concerns.Address these questions below in a clear, concise manner and you will have a better crisis handling experience:1. Will the restatement have a material impact on your previous years earnings, revenues and cash flow, balance sheet, etc.?2. What is the extent of the options backdating? How many instances and how long was this going on?3. Have you formed a special committee to look into the matter? Who in the Board of Directors is head 2. BILLBOARDS WITH MORE THAN 7 WORDS Here's a real money waster. People are driving by at a fair clip, and some companies actually expect them to read sentences, paragraphs and even instructions. Can you believe? And what's with the 5 point type? Yes, we know it's big when you stand on it, but from the ground.... 3. ADS DESIGNED FOR FREE BY THE NEWSPAPER There may be plenty of talent in the graphic departments of the nation's newspapers, but truth be told, they'll never give you cutting edge creative with font finesse, eye-catching headline and motivating body copy. Why? They simply don't have the time. It's a sausage mill environment typical of most media that offer up free production services. Bottom line - it wastes your money because it lacks impact. It may even lower your customer's perception of your business if the design qualities lack taste. 4. BAD LOGOS When it comes to branding, your logo is key! Nothing irks me more than a poorly designed logo. If you plan to be in business a while, invest in a properly designed logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company. 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons Accounting In Manufacturing And Trading Concerns e 5 point type? Yes, we know it's big when you stand on it, but from the ground....A motor car manufacturer, for instance, buys steel, rubber, aluminium, plastic, etc, that is used to manufacture motor vehicles that are sold to dealers (the trading concern). These dealers, in turn, sell vehicles to the customer.From an accounting point of view the activities of manufacturing and trading enterprises are very similar, especially their administration, sales and financing activities. Therefore, the accounting principles and most of the procedures can be applied to both manufacturing and trading concerns. The main difference between the two is their method of cost accumulation and cost determination for (1) inventory valuation and (2) the calculation of the cost of goods sold. The difference arises from the fact that trading enterprises buy completed goods, while manufacturers make the goods sold by dealers.The 'accounting cost of goods manufactured' item in the manufacturing en 3. ADS DESIGNED FOR FREE BY THE NEWSPAPER There may be plenty of talent in the graphic departments of the nation's newspapers, but truth be told, they'll never give you cutting edge creative with font finesse, eye-catching headline and motivating body copy. Why? They simply don't have the time. It's a sausage mill environment typical of most media that offer up free production services. Bottom line - it wastes your money because it lacks impact. It may even lower your customer's perception of your business if the design qualities lack taste. 4. BAD LOGOS When it comes to branding, your logo is key! Nothing irks me more than a poorly designed logo. If you plan to be in business a while, invest in a properly designed logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company. 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons What NASA Can Teach You About Your Business Goals esigned logo that will inevitably define who you are. If you're looking to build trust, consider a consumer's perspective. Shoddy design = shoddy company.Despite the current issues challenging NASA, it’s financing and the future of the Space Shuttle Program, there is a key lesson you can learn from its past successes. This lesson is about setting a complete goal and including the wider implications for your business and your staff.During the space program in the 60’s and 70’s the over-riding focus for the flights to the moon and the other missions was not just getting the astronauts into space but also bringing them back safely. The Apollo Program was designed with the specific goal of landing humans on the moon and assuring their safe return back to Earth. The “safe return” part of this is often overlooked but this was actually a very key element in ensuring the high level of safety and testing. It also drove the NASA engineers to ensure that they had effective processes for identifying the causes of problems and finding solutions quickly, as was se 5. IN-DIRECT MAIL I say in-direct because that's exactly what it is! Unless it's got the recipient's name and address on the envelope it will more often than not, end up with the dozens of other flyers it is grouped with...in the trash. When you tally up the cost of designing, printing, and distributing your "in-direct mail" piece into the marketplace, the return on investment is just too low. Always remember. TARGET - TARGET - TARGET your market, otherwise you might as well just throw your money to the wind. Let's look at money wasters in the RADIO media. Radio happens to be one of my favorite ways to advertise and for many reasons. But there are companies that just don't understand it well enough to buy it responsibly. And that leads to an inefficient campaign. There are a number of reasons to use radio, but I'll focus on the 2 main reasons. 1. You are introducing yourself or a new product and you want to do some brand building. 2. You are well known and have a fabulous promotion you need to advertise. Each demands a totally different approach in how you plan to schedule your spots and the number of spots needed. Unfortunately, it can be rather lengthy to explain the many variables in this article so I will site just a few examples. 1. OVER-BUYING Building a brand takes time. It makes no sense to buy radio spots every half hour. Slow and easy is the rule here. Several spots spread out over the long term. My favorite approach is to double my radio budget by buying alternate weeks. You can actually buy 26 weeks of airtime and leave the listener with the impression that you advertise ALL THE TIME - 52 weeks a year! This happens because there is a roll-over effect of your message from week to week and the listener does not have a sense of that time frame. Why buy 52 weeks when you don't need it? 2. UNDER-BUYING Radio is powerful, but don't expect much action with 1 spot a day. The power is in the frequency. I mean this in reference to planning a large promotion. If you don't get the job done right, you will have wasted your money. 1 spot a day isn't right. If your budget is limited, what I usually do, is to group my spots over a three day period in the week. This concentration is very effective and the spill-over effect is enhanced if you run a print ad at the same time. 3. NOT USING 10 AND 15 SECOND SPOTS There was a time when 60 second spots dominated the air. As rates rose, 30 seconds became the norm. But today, it may surprise you, but you can get a fabulous response with just 10 and 15 second spots. This approach works even better if you've already run 30 seconds beforehand. The secret here? Listeners who have heard the 30 seconds previously, hear the same global message when they hear the 10 second message. A great way to save money and make a more efficient and effective radio buy. 4. BUYING ONLY MORNING AND DRIVE SPOTS You may think your radio dollars are reaching your audience in the prime time slots, but here's a surprise for you. You're reaching the same people every day. Now, at first glance that seems like a plan, but think of all the people who never hear your message. If you don't have some exposure between the hours of 10am - 4pm, or 7pm - midnight, you're missing out on 6 hours of audience that may not necessarily be prime time listeners. They could be watching TV, reading the paper, surfing the web or asleep! Spread your radio spots out. The rates are cheaper, and in many ways more effective. Being a big believer in brevity, I'll take up more wasteful advertising practices in my next article.
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