If you own a small tax business, located in a small town, and you had $100,000 to spend on advertising, do you think you could get your message seen, read or heard by your target market?
(I’m confident, if you spend six figures advertising your marketing message to a small town, you could definitely reach your target market.)
The problem is you would NEVER make any money!
Number one, the market size wouldn’t justify spending that kind of money anyway.
And number two, since you would be wasting 90% of your advertising dollars on prospects NOT interested in your tax services, you wouldn’t be able to prepare enough tax returns to offset the expenses.
The bottom line is: “You gotta turn a profit if you're gonna stay in business!” (and as an accountant, I’m sure you understand this! ☺)
But the same holds true for your MEDIA selection. It is NOT about “response rates”, despite what you may think!
So the “math” or your sales to expense “numbers” plays a very important role in your overall marketing equation. Like Dan Kennedy says, “Your numbers don’t lie. If you’ve got bad numbers, you’ve got bad numbers.”
(Sounds like something Yogi Berra would say, doesn’t it?)
The point being, your market and your message may be right, BUT IF YOUR MEDIA IS NOT AFFORDABLE (MEANING IT’S NOT PROFITABLE), EVERYTHING IS STILL WRONG!
Check out the example…
(Round numbers were chosen in this example to help you see that the role of MATH in all ad media is vitally important.)