Q: “How Much is That Doggie in the Window?”
A: “How Much did it cost to have someone look at that Doggie?”
According to the research from Covario and eMarketer.com, advertising in the U.S. was $549.00 per person and this amount will rise to an estimated $565.00 per person next year. The largest increases will take place on advertising on digital media.
This is sum of all advertising spent on TV, radio, print, online and mobile media. While this amount person may not sound like much, keep in mind, the denominator here, is the 318 million inhabitants of the US!
Bottom-line, A wide array of companies have chipped in to convinced us to watch a certain movie, try a new shampoo, eat in their establishment, buy their camera, visit their Country, shop in their department store and buy their insurance (just to name a few). With all this cross current of information and influencing, the loyal consumer is becoming a fast moving target!
What are you spending on advertising/marketing per customer? Do you know how much you spent on each person that walks in your store or visits your site? What is your cost of capturing a new customer?
The great thing about having a “doggie in the window” is that mostly everyone loves looking at a puppy, and that being the case it doesn’t need a lot of advertising, people will always stop and look. A few years ago when gold began its fast climb, the signage “we buy gold, highest prices paid” captured as much attention as any puppy. Those days are behind us, and those “we buy gold” signs have multiplied to the point where our curiosity is no longer piqued by them.
Is your advertising bringing people to your(store and internet) window ? Is your (store and internet) window converting lookers into shoppers?