15 people, all business owners or representatives having breakfast together discussing their advertising. Specifically what works, what doesn’t, and how they tell the difference. That’s what RBS Breakfast Club is all about and that’s exactly what happened this morning.
There are plenty of business networking groups out there, and the majority are so heavily focused on referrals and leads. At RBS Breakfast Club referrals and leads are passed all the time, but the real benefit is the open and honest support the members have for each other. Today was no exception.
A few of the regular faces were missing today, busy with Melbourne Cup Day preparations in their businesses, or taxiing family members to important appointments, but for those who were in attendance, it was another great morning.
To celebrate Melbourne Cup Day in our own little way, we held a sweepstake with everyone in attendance pulling their horse from a bowl at random. The winner was to receive a 6 months RBS Breakfast Club Membership free of charge. After everyone drew their horse, there was a couple left, so we distributed the extras too. As the host, I didn’t enter the sweepstake but was encouraged to join in. Wouldn’t you know it….. come race time, it was my horse, Gold Trip, that was first over the line. It was all in good fun though and whilst no one took home the free membership, we’ll find a reason to give one away before the end of the year.
Following on from the fun of the draw, we had a long conversation about how effective different forms of advertising can be. Some of the highlights include:
- Newspaper advertising may not be as effective as it used to be. Many people don’t even read the local newspaper anymore, putting it straight from the driveway into the bin. But for some industries, it can still work.
- Shopadockets, police and nurses’ calendars, and all those other niche advertising options aren’t likely to bring a return unless you’ve got a mass-market product that’s particularly popular with seniors.
- Traditional print advertising in general is still effective, but it needs to be highly targeted. A letterbox drop for example can work but aim for areas, suburbs, and even specific streets where your ideal customer is likely to be in higher numbers.
- It’s very important to know exactly who your ideal customer is. Give them a name, a personality, a back story. Base it on data, not just a gut feeling.
- If it’s done poorly, it can be a huge waste of money but when done correctly, online advertising can be a license to print money. When it’s highly targeted towards your ideal customer and does just as much to turn away those who aren’t suitable as it does to attract those who are, online advertising can be really effective. Like anything, getting it right for one business can be very different from getting it right for another, and often the only way to know is to test and measure. Whether it’s Google Search Ads, Facebook Ads, or Sponsored Videos on TikTok, YouTube, or Instagram, everyone was in agreement that there’s some form of digital advertising that would work for almost every business.
