Avionics News February 2014 - 50

series

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MARKETING

REPORT
C RD

Advertising
S T O R Y

B Y

P A T R I C I A

his is the first article in a series to help
Aircraft Electronics Association members
become more effective marketers by providing guidelines for grading their marketing efforts the
old-fashioned way - just like a report card where the
grades went from A to F. During the year, Marketing
Report Card will help you grade yourself in marketing
subjects, such as media relations, trade shows, social
media and more.
Will you make the honor roll of marketers with
straight-A grades? Or will you be sent to summer school
to make up the classes you flunked? The good news
is that no one else will see your grade, so you can be
honest in your assessment. Along the way, you'll be
provided with tips and strategies for improving your
performance.
The first subject is advertising. For many companies,
advertising expenditures take up the lion's share of a
marketing budget, so it makes sense for you to take
great care in your media selection. Remember, it's not
just about spending more money - your goal is to make
the most of the advertising dollars you have budgeted.
Of course, it's a difficult task. Retail pioneer John
Wanamaker famously stated, "I am sure only half of my
advertising works. I just wish I knew which half." Now,
more than 100 years later, marketers are still mightily
challenged by media selection and use. You can still be
an A student, however, by having a plan and sticking to
it.
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L U E B K E

Ready to grade yourself?
You're an F student if: You think advertising is a waste
of money, and only fools would spend that much. Instead,
you solely rely on word-of-mouth advertising to spread the
news about your company. Sure, business could be better,
but times are tough, right?
You're a D student if: You advertise only because you
think you must. You believe advertising is a necessary evil,
so you run the same ad you have for years in the same publication and continue to run it in the same place. Once in a
while, you throw a banner ad at a website that you think is
appropriate. You feel it makes more sense to advertise in
good times rather than bad times. In fact, when times get
tough, the first item that's cut is your advertising.
You're a C student if: You spend plenty of money on
advertising. You have a media schedule you think works,
year after year. You're proud to maintain the status quo when
it comes to advertising placement. You change your ads frequently - depending on what is working - you don't want
buyers to get bored with your ads. So when someone has a
good idea for an ad, you'll give it a try.
You have been in this industry for years, so you're confident you know all the media and what each can offer; there's
no need to look at anything new. You have good relationships with the media reps you buy from - you like them and
they like you. That's why you pressure your reps to get you

Avionics News February 2014

Table of Contents for the Digital Edition of Avionics News February 2014