Results, Relationships and Investing in your Business.

The other day I had a conversation with a local business owner who shall remain nameless. He was interested in finding out about advertising and as always I asked “what are you currently doing to promote your business?”

His first response “Word of Mouth.” Of course! Everyone says all of their business comes from word of mouth. Moving on….

His second response was an online ad he was running on a competing site of mine but he said something interesting. “I’ve been advertising with {soandso.com} for three months and I haven’t gotten one single booking. They have a leads system, but they’re budgets are too low so I don’t bother calling them.” I asked “How much do you pay for that site?” He says “$55 a month.”

CUT! Doing the math if he paid $55 a month for 12 months he would have invested $660 year to promote his business. Knowing what I know from the wedding photographers I work with, most of them charge anywhere from $2000 and up for a wedding. Chances are this wedding photographer charges more than $660 for any given event. Having put in more time, he may very well have booked a bride, covered his costs and then some. But yet, he couldn’t see the value in spending $55 a month to potentially book said $2000 bride.

Before I go on, I’ve just got to say there comes a level of commitment and value you’ve got to place into you business before you can ever expect anyone else to invest in it. If you can’t invest $660, how can you expect your client to pay you double or even triple that?

This photographer was ready to jump ship for the next best thing without ever giving the current advertising medium a chance. I bet if he called his account executive from {soandso.com} and explained his concerns they would have gladly given him some advice to boost his return or attraction to his ad.

But it goes even farther than that. Advertising is like dating.. you’ve got to give it time. If you’re boyfriend didn’t propose in the first few weeks of dating would you dump him?

When it comes to most medias, advertising is part results and part relationship. Don’t go into an advertising agreement just thinking about the ad, think about the “added value” that comes along with it. The intangibles. Connections in an industry you may need, marketing advice you’ve always been looking for, networking opportunities, event sponsorships, a shoulder to cry on (you never know, it HAS happened to me) and so much more.

My plain and simple advice is this…Invest in your business far beyond what you expect your clients to and your returns will be plentiful. Utilize the relationships that come with those investments. Combine those together and you’ll have a recipe for success.

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1 Comment

  1. Heather October 15, 2009 / 2:16 pm

    Thanks Heather, great advice!