Home Loan Information Home Loan Information From A Former Industry Insider

Holiday Marketing -or- Fish In A Barrel

Christmas is coming, the goose is getting fat. Please to put a penny in the old man’s hat.

Or put another lead in your pipeline. I know I will!

I wish someone had shared this information with me back in the 70′s. Instead, I learned it on my own in the 90′s. Now it’s my gift to you if you don’t already know …

They call it “excess inventory“. What it really is are ads that haven’t been sold. In most cases today is probably the deadline to discover and purchase that excess inventory at often times a very high discount. It doesn’t matter if it’s radio, television or print you can generally find ad space or time for pennies on the dollar.

For example I have sponsored America’s number one radio talk show on and off for years here in Atlanta. Normal cost for a 60 second spot ranges from $500 to $1000 depending on how much time you buy and how eager the AE is to make a sale. But for the week between Christmas and New Year’s Day I may be able to get those same spots for as little as $200 each or less if I buy enough of them.

The same works for many print ads and definitely works for television. Ever wonder why beginning Christmas Day you see dozens of ads from smaller retailers you did not see before Christmas? They are taking advantage of the inventory. Smart advertising reps should alert their faithful clients about these opportunities.

If you have not yet developed a relationship with an advertising firm or directly with the time/space supplier here are some things you need to know:

1) You do not have to pay the price they give you. There is some wiggle room. Ask for the agency rate and then tell them to go lower. Sometimes they can and will. It’s a negotiating game.

2) Don’t expect less than 20 radio or television spots to return results unless you have a call to action that is urgent such as a drawing or special pricing. (By the way, have I invited you to sign up for my Lowe’s $2,500 Gift Card Sweeps?)

3) Do everything in your power to avoid signing any contract or service order covering any period of time. And, if you do sign, make sure you can cancel at any time. Most radio/television contracts require a 30 day notice so if you order 10 spots per day at $200 each it can take $60,000 worth of spots to cancel your order.

4) If you do need to cancel your agreement SEND YOUR CANCELLATION VIA USPS (not UPS) RETURN RECEIPT REQUESTED to the billing department, your sales rep, the sales manager and a copy to your attorney. (Yes, I’ve been bitten to the tune of several tens of thousands of dollars. Learn from my mistake!)

5) Have several people read, watch or hear your advertisement before you settle on the final. Make sure to include non-industry people and even some people with whom you may not be acquainted. If you have time and a larger budget you may even host a focus group but time is short and it’s the end of the year so your budget probably is, too! At least make sure several eyes see your script or copy and listen to what they say even if you don’t make the change. I’ve heard some silly ads.

Additionally you may wish to send cards and letters the Friday before Christmas which will put them in mailboxes (and people’s hands) within a couple of days after Christmas while they most likely will have time to read your note and visit your website or call you. I’m sending out 1200 invitations in the form of post cards to first quarter seminars and an invitation to sign up for my Lowe’s $2,500 Gift Card Sweeps … just had to work that in there again!

Post cards are my choice for mail because (a) the cost is generally less than a letter and, more importantly, (b) the text and image is right there on the parcel. Nothing to open means the message is easily seen.

The best to you in marketing your services during the holiday season. It keeps your pipeline full during January and February. February is historically one of our busiest months while most of our competitors complain of it being one of the slowest.

What are your ideas and experiences for Holiday marketing?