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Ah, I see what you're saying. Yes, you're exactly right. Brand advertising has a much higher ROAS when done well. The challenge is doing it well, and knowing i
by jlbnjmn 6y ago
Ah, I see what you're saying. Yes, you're exactly right.
Brand advertising has a much higher ROAS when done well. The challenge is doing it well, and knowing if you did. My experience has been that SMEs rarely have the appreciation for art necessary to do branding well, and without strong branding, brand campaigns are a waste of money.
And it's not just a lack money. They'd rather spend the money on ads than on people. In some industries, that's a better strategy, but for most they would benefit greatly from recognizing that all customers, both B2B and B2C, are in fact humans.
Founders have an advantage here, because they can operate on a longer time scale.
(Side note, GM spent $3140000000 on ads in 2018.)
- time0ut 6y agoImagine having an ad budget of pi billion dollars...
- jlbnjmn 6y agoI would launch a new $10,000,000 engineering bounty every Monday and a $30,000,000 race event every weekend. The engineering bounties would be for open source hardware, software, and tooling challenges, with a heavy focus on optimizing robots and social computer vision problems. The races each weekend would alternate between full size trucks in a strong man style competition, manned quadcopters doing search and rescue challenges, and autonomous cars in an urban race series. I would spend the remaining $10,000,000 from the week's budget on vocational scholarships and micro-loans for low income single parents. If anyone from GM is reading this, let's talk.
- llsf 6y agoIt might be pretty close to what Tesla is doing with its own marketing budget... beside, not open sourcing it or doing weekend races (although Nurburgring and other drag tests could count).
- junius2020 6y agostill a better policy than what the fed is doing