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Article Excerpt
A co-worker of mine is fond of quoting John Wanamaker, the 19th-Century merchant touted as the father of the department store--"Half the money I spend on advertising is wasted, I just don't know which half."
Most all business owners can empathize. One of the most difficult aspects of advertising is measuring results. It might seem simple--run a campaign, then see if sales increase. To some degree, sales increase can be an indicator. If sales spike during a particular advertising effort, then likely the advertising is working.
However, if sales do not spike, that does not necessarily mean the advertising is failing. When you consider the sales cycle of any product or service, advertising and promotion really only compose approximately one-third of the process.
Let's say Acme Widgets International wants to push a new widget they've recently developed. First,...
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