Page 93 - The Bootstrapper Bible

ChangeThis Advertising feels like an expense. Itʼs not. Itʼs an investment. An investment that takes a little while to pay off, but when it does, itʼs magic. The coolest thing about marketing is that when you mix two ingredients—time and money— you get an enormous return. A consistent, persistent, intelligent ad and marketing campaign, done for months or years is nearly certain to pay off. Remember, sales are what make your company work. And sales happen when you get access to people and they trust you. Advertising makes sales happen. THE FOUR MOST IMPORTANT RULES OF ADVERTISING 1. SPEND REGULARLY ON ADVERTISING. Yes, advertising is scary. It seems like a crap shoot. You pay your money and nothing hap- pens. You pay your money again and nothing happens. Then, after a while, it starts to pay. But most bootstrappers get impatient and give up too soon. The way to plan your advertising is to budget for it. Figure out approximately how much your competitors advertise. (This is easy if theyʼre buying print ads, much harder if theyʼre using direct mail. One way to get an idea is to ask someone who doesnʼt directly compete with you what they do.) Then, settle on a percentage of your revenue that will at least, match, if not beat, the industry average. Then, every month, whether you need it or not, spend that money. Spend it when times are good. Spend it when times arenʼt so good. Because advertising is a little like watering seeds, you donʼt want to miss even one cycle. | iss. 6.01 | i | U | X | + | h 93/103 f