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You have $5000 A Month To Market A Product, Prioritize Your Spending...

by tommydesmond
7 replies
I got into a discussion with a friend of mine (well, a guy I know... six degrees) last night who's just about to take on his first IM client. He's got a small budget of around $5K a month to spend on marketing a new e-commerce site.

I told him that provided he's got the right keywords researched, I'd spread it across several major PPC networks and maybe some sponsored posts from influential bloggers in his niche (it's in the home decoration/design arena).

What do you think? Where would you spend $5K in order of priority?
#market #month #ppc #prioritize #product #small budget #spending
  • Profile picture of the author petelta
    I personally stay away from PPC. Just because I've never needed it I guess. I figure one day I will learn it, but I hate to lose money for a while to learn how to make money when i already know how somewhere else, ya know lol.

    Anyways, I like the sponsored posts or even just ad spots. One method that has made me a frickin ton of money these past few months is small magazine advertisements. The home decor/design would kill in this because there are lots of profitable mags out there in this niche.
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    • Profile picture of the author tommydesmond
      are you talking offline mags?
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  • Profile picture of the author E. Brian Rose
    All marketing should be tested. Giving a simple, "you should (or shouldn't) use PPC" answer could not possibly be the right answer without testing.

    Your friend should make a list of advertising possibilities and then spend small amounts in each. As the days go by, you can up the spends on what is working and eliminate what is not.

    Here is a tip for buying banner ads... if you are buying banner ads on a high traffic related site or online mag, be sure and ask for a 48 hour cancellation clause. You will likely have to pay the full month in advance, but after 48 hours if it doesn't produce the results that you expected or were promised, initiate that cancellation clause. You will then be able to get the remaining 28 days worth back. I was a media buyer for a major online poker site and I added the cancellation clause in every online buy that I made. If they were unwilling to allow the clause, then we did not buy advertising from them.
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  • Profile picture of the author petelta
    Yep, you can get cheap ads that can reach a very targeted market. Not many of the ads in these places bring people to website too.

    Here's how I do it.

    WritersMarket.com - you can find thousands of specialty and niche magazines here. It also tells you circulation and the amount of subscribers each has. Choose one that gets at least 10,000 in circulation, call the mag and see what their ad prices are. Very reasonably priced for printed ads. Your local newspaper ads are usually more expensive than these mag ads.

    You can also check out the Standard Rate and Data Services directory (SRDS Media Solutions ®). You can find magazines that rent their subscriber lists...like a super targeted solo ad. Using the online resource costs money, but I just go to my local library that has the printed version.

    Travis
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  • Profile picture of the author tommydesmond
    @bryan testing wise, I agree, still need someplace to start though. The banner tip is a good one, I haven't yet done much banner advertising but will keep that in mind when I try it out.

    @petelta that's great info, I also hadn't thought much about offline but after poking around in the writers market it looks like there's a lot of potentials there.
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  • Profile picture of the author evanlambda
    With 5k a month I'd consider doing a small media buy on a website with a demographic that would be interested in said product.

    Media Buys really are the best way to get the most traffic for your dollar targeted relatively well. Split test a few ads and see what performs.
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  • Profile picture of the author tommydesmond
    @evan media buy as in roll the whole 5K over into a banner campaign on one (targetted) site? Like I said before, I haven't done a whole lot of banner advertising, but i've heard it's got a pretty brutal clickthrough rate and it seems a little risky to put all those eggs into one basket, am I wrong on this? or am I misunderstanding media buy?
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