December 8, 2009

Do you want to advertise like Coca-Cola?

Are you testing your next big idea or program?
You are looking to grow your business now. Of course, who isn’t trying to keep pace or actually improve their business in this environment. When I work with the largest companies in the world, we always test the next big idea. The successful programs are rolled into the general marketing campaign and here is how you can do it in your company with any amount of marketing funding. Just don't get in too big a hurry and spend all of your cash on one untested program.
1. Set a budget. If you have not already done so for your business, determine an appropriate amount to invest in growing your business everyday. It probably falls somewhere between 4% of sales for maintaining to 12% of sales for growth with extreme cases falling outside of these parameters.
2. Test 10 – this method used by some of the largest food companies, only allows for a maximum expenditure of 10% of marketing funds for testing new and innovative ideas and media. This is the fun and creative area of developing marketing promotions and advertising. You test the creative and unusual concepts hoping to achieve success and expand them into larger programs.
3. Roll with 90 – Deploy your advertising, marketing, and promotion programs into proven winners from your Test 10 program.
This 10/90 method will help you to identify the winning marketing ideas for your firm and cut down on wasteful programs. Much continued success and if you have any promotion or marketing questions, send me a note or comments to tim@timforrest also, follow me on Twitter I want to hear about your success!
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