Cost-Effective Promotion....

At one of my seminars an attendee asked me The Big Question: "What's the most cost-effective method of marketing?"

I felt like the cross-legged guru on the mountaintop asked the meaning of life.

"This is the great marketing question," I said trying to sound wise. "In my two decades studying this discipline I've discovered one definitive answer. I've reduced it to two words…"

All eyes were on me, pens poised.

"It depends."

The audience groaned.

"Seriously." I said. "If there were one overwhelming choice, everyone would do it. Then it would cease to be the most cost-effective."

If you've never formally studied marketing, consider my next few tips a primer. If you have, consider them an offbeat overview of promotion.

Let's start with a brief definition of terms.

There are 4 P's in marketing: product, place, price and promotion. I won't get into the first three. My focus is promotion (and any aspect of product, place and price that affects promotion).

Promotion is all the activities designed to communicate an image or message to your clients and prospects. There are four tactics within promotions that I call APPS. Advertising, Public Relations, Promotions and Selling.

Helping clients orchestrate each of these promotional elements to create a focused, consistent and successful Marketing Program is my firm's mission.

In future tips I'll try to cover each tactic, the tools they rely on and the strengths and weaknesses of each.

Meantime, meditate on the meaning of "Cost-effective." Is your overriding objective to reduce costs or increase effectiveness?


- Phil Sasso