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IT'S ALL ABOUT LEADS

Why do companies pay big bucks to develop flashy, funny, or fancy ads and place them in publications?

Obviously, the simple answer is this: to get attention for their company, their product or service, or their message.

However, the real answer is slightly more practical and pecuniary. A successful and impactful ad will elicit a response from the reader.

A political campaign ad may encourage a reader to vote for a particular candidate or referendum.
A philanthropic ad could convince him to donate to a certain charity.
A human rights ad might incite him to participate in a letter-writing campaign or sign a petition.
A corporate ad will motivate him to purchase something.

JUSTIFYING YOUR INVESTMENT

How can an advertising manager measure the effectiveness of a print ad? In principle, this is quite simple, although it has become a rather advanced science in practice.

Suppose you have commissioned your advertising agency to develop a creative print campaign promoting your new whiz-bang product. They unveil the ads, and your corporate officers go wild. They throw advertising dollars at you and send you off to place ads in all the major magazines in your industry.

Now the ads have run, and the bosses are lining up outside your office, wanting proof that these promotional dollars were well spent.

You're in luck!

If you have done your homework, you will have quantitative results to demonstrate the impact of your promotional investment.

COUNT YOUR LEADS

Simply put, commercial print advertising is expected to generate sales leads.

Look closely at those ads you placed. (Magazines will have sent you tear-sheets or glossy ad-slicks (reprints). A single line, usually at the base of the ad, will offer readers additional information, if they will circle your designated number on the reader reply card (common called a bingo card). Every trade magazine does this, along with most general publications as well.

Publishers will provide you, as an advertiser, with detailed reports about reader inquiries, as they pertain to your ads.

You can collect these reports from every publication in which you have placed items. (In fact, if you have submitted New Product Releases or other public relations items, you can quantify those reader inquiries/sales leads as well.)

When your bigwigs come calling, you can be ready, with a spreadsheet in hand, to show them exactly what your advertising dollars produced. You can even calculate a cost-per-lead for every single magazine.

Magazine sales reps will employ these reports when they call on you, as they will want to convince you that your dollars are more strategically spent in the publication than others. Let the results speak for themselves.

QUALIFY YOUR LEADS

Of course, not every reader may be a qualified buyer. Just because someone circles your ad number on a reader reply card does not mean that person is in a position to buy from you.

Reader reply cards generally ask for specific information: name, address, job title, and purchasing power. (Does this individual have the power of purchase in his company?)

Most publications will weed out unqualified respondees. If they don't offer this service, you can certainly do this in-house or through a third-party. A simple telemarketing interview will determine which leads are valuable, and which should be tossed.

When you consider where to spend next year's ad budget, you will be able to project exactly which publications (and which ads) are likely to draw the most qualified leads.

Qualified leads equal sales opportunities. That's the bottom line.

Learn more about this author, Linda Ann Nickerson.
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