MIND-BLOWING ADVERTISING ADVICE
Woody Bendle here from Next Level Growth Strategies. This week’s business tip is something I’m betting you have an opinion about one way or another. And if you’ve watched any of our videos before, you’ll know that like to challenge conventional wisdom and business folk lore, especially when it pertains to the quote un quote – traditional way of doing things, or this is what we’ve always heard so this is what we’ve always thought, so that’s what we’ve always done. There is still so much of this out there and it’s a shame because it is often wrong, or at least, not completely right. And this week, we’re going to show you something that might just blow your mind, and maybe change how you think about how your organization advertises throughout the year.
So when it relates to advertising and in particular, how much to spend on advertising, which channels to use, and how to allocate that investment throughout the year, there are tons of opinions and just as many rules of thumb out there as there are opinions. And as someone who has analyzed billions of dollars of ad spend across a lot of different businesses of different sizes and in different industries, I can tell you with a lot of confidence that a lot of these opinions and long existing beliefs are simply wrong. And I’m going to share one of those with you right now.
Here you go. If you are going to increase your advertising spend, it is better to allocate that spend in periods of higher seasonality than in periods of lower seasonality. So what to you think? Is it better to spend more during your peaks or during your troughs?
Now, what I can tell you is that the widespread belief or the conventional wisdom that I’ve encountered throughout my career is that it is better to spend more during your businesses peaks than during its troughs. And I’m betting you’ve heard this before and there’s a good chance you even believe this. You know, fish when the fish are biting. Makes sense right? But does it really?
In this video, I'm going to share a couple of reliable advertising rules of thumb to challenge some conventional wisdom or widespread assumptions held about marketing and advertising.
INDEX:
00:00 - Intro
00:53 - The set up for this week's business tip
01:38 - A common advertising assumption
02:17 - Some qualifying statements
03:49 - Two useful advertising rules of thumb
04:55 - Applying these two advertising rules of thumb
06:05 - So what is the best time to advertise your business?
07:17 - This week's business tip
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