Can’t afford to advertise? - Richard Miller

Richard Miller - Building Brands & Selling Stuff

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INTRODUCTION

Show Objectives - The Why
There is a perception that advertising is expensive. Is it? Today we talk about the value of advertising vs the cost.
If an ad campaign costs you $10,000 but returns you $50,000 is it still expensive?

Price is the amount you pay. Value is what the campaign is worth to you. Return on investment can rarely be guaranteed but today we discuss some of the ways you can maximise your chances of the greatest returns.

Key Issues - Owner Perspective:

• How do you maximise return on your advertising investment?
• What’s a realistic ROI?
• How do you know what you want to achieve?
• What’s a realistic budget?
• Should you use classic or social media?
• Where do you start with a creative message?
• How do you negotiate media rates?

What You Need to Know - The What

• Firstly, understand you margins and what GP is in your product/service.
• How much stock/time do you have to sell?
• How does that equate to dollars?
• As a percentage of GP, what are you prepared to spend to make the sale?
• Who is your target market?
• What is your single-minded proposition?

What You Need to Do - The How

• Calculate cost vs sale price
• Understand stock levels or available hours 
• Subject to your fixed costs, would you spend 10% of your GP on advertising?
• Work on a 4 x return ratio
• Do some research on who your ideal buyer is
• What do they want to hear that will encourage them to make an enquiry?
• Use a media buying agency to plan and negotiate media
• Create good and relevant content that speaks to your single-minded proposition

 
Written by - Richard Miller – Brand Director, Crisp & Co.
Business insight, creative content and strategic communication specialist.

Richard started his first business at the age of 14 and has thrived on creating and building entrepreneurial opportunities ever since.
He began his advertising career as Agency Sales Executive for TV network Channel 10 in 2006. 

Experienced in both media sales and buying, Richard was responsible for multi-million-dollar media accounts as National Media Manager for Iceberg Media before co-founding Crisp & Co. in 2009 (formally Crisp Advertising). 

Taking a pragmatic and results focussed return on investment approach has established Crisp & Co. as the go to creative and communications agency for local and national businesses seeking expertise in business insight, creative content and strategic communication. 

With a lifetime of experience operating small to medium businesses and working closely with both local and national brands, Richard is well positioned to take a holistic view of a full marketing and sales plan with a keenly trained eye on creative concepts and communication strategy.

Along with wife and work colleague Siobhan Miller, Richard also co-hosts the podcast series Mad Man & The Hospitalian; interviewing highly successful professionals from business, marketing and hospitality backgrounds around Australia, discussing the highs and lows of their careers and asking the ultimate question; ‘what is your definition of a fruitful life?’.

Find out more about Crisp & Co. here www.crispand.co and listen to Mad Man & The Hopitalian wherever you get your podcasts. Connect with Richard on LinkedIn

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