Sharing Daily Discoveries About Personal Finance And Business Topics

Spending Marketing Money Without Research

I was looking at some data today where it was trying to inform what type of audience visits various sites and local venues in an effort to give businesses an idea on where it would be best to spend their marketing dollars to try and attract qualified customers. What was interesting to see was that there was one business that was going to blindly spend over $1000 using things such as a banner advertisement on places that they just assumed would be where their target market would be.

Upon further investigation, interestingly enough there was virtually no qualified traffic as everyone actually went to a different place. I guess it is like saying you assume that setting up advertisements in a food court would be good for your business that sells bottled beverages as everyone there is obviously looking for something to eat and drink. However, let’s say most people would ignore it as they just want to buy something right now. Therefore, it would have been smarter to place it within the supermarket area as those people are looking to buy something to take home and are shopping to fill up the fridge, so to speak.

Reading all that data definitely is an eye opener where it shows how much money you can save by actually researching if you are truly targeting the right audience and area. It’s too easy to fall into the trap of thinking that just because someone spent say $1000 and got a lot of success out if it that it automatically will mean the same for you.

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