There are many ways to waste money, some fun and some not. A random search online can show you some really fun ways to do this. Example 1 : The Harry Potter bathing suit. Or, for the engineers of the world: A build-your-own-drinking-straw kit.
Seriously – these are two things everyone must need!??
In the Business World…Learn to Save Money on Your Advertising
In the business world, the main goal is to not waste money. Unfortunately, we see quite a few money wasters in businesses who try to invest in their marketing. Often clients spend large amounts on paid marketing – while seeing no return. Our maxim: Advertising should bring customers.
Paid advertising (like using Google’s Adwords) is a good tool to bring in leads, but must be used correctly. When combined with a strategic marketing program, paid advertising brings in customers. But, if you are wondering how to waste money in paid marketing here are our top 5 tips!
1.) Target the entire world
If your clients buy from around the world – great. Otherwise, find out where you top clients are from and target those areas only.
2.) Add every keyword suggested by Google
Let’s face it: the companies like Google want to make money. (Don’t we all.) Filter out anything that’s not bringing in leads.
3.) Using automatic settings
Monitor the campaigns yourself. Automatic settings spend your money on things that may not bring you customers. The human mind is still better at strategizing than computers. (For the time being…)
4.) Bid on the most generic location keywords
Bidding on the state keyword allows anyone looking for your state to possibly click on your ad. This usually doesn’t connect with your top customer. Target locations should be more precise – and will have a higher ROI.
5.) Don’t connect paid marketing to your overall marketing plan
Spending money on paid ads without having good landing pages or a website is a great money waster!
If you need other ways to waste money please just give us a call, we love spending money! Of course, if you want to save money on marketing we are usually working on this topic for our clients: with careful monitoring and tweaking of your paid advertising strategies,it can be a great investment.