Tag Archives: Lisa Buksbaum

About 4311 days ago E-Commerce

How do I integrate a seamless advertising and marketing campaign on a tight budget?

Marketing & Advertising mentor Lisa H. Buksbaum reponds to the following question from an inc.com user:I would like to develop and integrate an ad campaign using magazine ads to pull in customers. I would send inquirers a package with a cover letter, flyers, promotional items, and directions to my Web site (which I need to build and promote effectively). However, I have two hurdles: integrating all this with no seams and a strict budget. Lisa H. Buksbaum’s response:You are trying to take on too many projects with limited funding. Instead, let’s focus on doing the right things. The beauty of the Internet is that a successful Web site can eliminate the need for costly printing of brochures. I recommend high-impact direct mailers that really push your company’s key benefits and drive prospects to your Web site. If we have learned anything from the dot-bombs it’s that you can’t “buy” people with meaningless tchotchkes (i.e., promotional items) with your logo emblazoned on them. There are hundreds of storage closets at defunct companies filled with shelves of promotional giveaways. Save the money and build a more effective site. Try speaking at local professional organizations in industries where your prospective customers are and also contact your alma mater to see if there are any alumni that work in industries you are trying to reach. These people are prospective customers, and you also share the bond of being part of the same “club.” Copyright © 2001 inc.com LLC

About 4615 days ago E-Commerce

How do I determine what to charge advertisers on my Web site?

Marketing & Advertising mentor Lisa H. Buksbaum responds to the following question from an inc.com user:I have a Web site that caters to a loyal niche market and gets approximately 5,000 visitors per day. The average member visits 10-15 times per month and spends, on average, 20 minutes per visit. I have not used any advertising on the site, nor have I really advertised beyond word of mouth. Cost per thousands vs. cost per click vs. impressions – which is the number I should be using to develop my rate card? How much should I charge? Lisa H. Buksbaum’s response:You mentioned word-of-mouth advertising, and I would encourage you to fully explore this option. Chances are your members have friends and fellow hobbyists that they can bring online to spend time on your site. After referring 10 new visitors to the site, a member could be eligible for a raffle to win cool prizes. In terms of setting your rate card, what are comparable sites charging in this niche or similar ones? Advertising can be measured by a variety of methods. They include cost per click, cost per acquired customer, cost per lead, cost per sale, cost per thousand — and many others.Cost per thousand (CPM) has been a traditional way for marketers to price a banner ad. The way that method works is a site guarantees an advertiser a certain number of impressions (that is, the number of times a banner ad is displayed and most probably seen by visitors). The price charged is based on the guarantee multiplied by the CPM rate. For example, a Web site that has a CPM rate of $20 and guarantees 500,000 impressions will charge $10,000 ($20 x 500) to the advertisers. In my experience, cost per click (CPC) is growing increasingly common today because it correlates with performance marketing, which focuses on quantifiable results. With CPC an advertiser only pays when an Internet user clicks on an advertising banner. That enables the advertiser to measure the ad’s effectiveness. Copyright © 2000 inc.com Related resources at inc.com:Online Advertising Pricing ModelsBest of the Small Business Web: Seed Money

About 4615 days ago E-Commerce

How do I determine what to charge advertisers on my Web site?

Marketing & Advertising mentor Lisa H. Buksbaum responds to the following question from an inc.com user:I have a Web site that caters to a loyal niche market and gets approximately 5,000 visitors per day. The average member visits 10-15 times per month and spends, on average, 20 minutes per visit. I have not used any advertising on the site, nor have I really advertised beyond word of mouth. Cost per thousands vs. cost per click vs. impressions – which is the number I should be using to develop my rate card? How much should I charge? Lisa H. Buksbaum’s response:You mentioned word-of-mouth advertising, and I would encourage you to fully explore this option. Chances are your members have friends and fellow hobbyists that they can bring online to spend time on your site. After referring 10 new visitors to the site, a member could be eligible for a raffle to win cool prizes. In terms of setting your rate card, what are comparable sites charging in this niche or similar ones? Advertising can be measured by a variety of methods. They include cost per click, cost per acquired customer, cost per lead, cost per sale, cost per thousand — and many others.Cost per thousand (CPM) has been a traditional way for marketers to price a banner ad. The way that method works is a site guarantees an advertiser a certain number of impressions (that is, the number of times a banner ad is displayed and most probably seen by visitors). The price charged is based on the guarantee multiplied by the CPM rate. For example, a Web site that has a CPM rate of $20 and guarantees 500,000 impressions will charge $10,000 ($20 x 500) to the advertisers. In my experience, cost per click (CPC) is growing increasingly common today because it correlates with performance marketing, which focuses on quantifiable results. With CPC an advertiser only pays when an Internet user clicks on an advertising banner. That enables the advertiser to measure the ad’s effectiveness. Copyright © 2000 inc.com Related resources at inc.com:Online Advertising Pricing ModelsBest of the Small Business Web: Seed Money