Week 7 Guerrilla Marketing

 In chapter 7 of Guerrilla Marketing, we learned about the secrets of saving marketing money.  The first step to achieving the savings is to not waste the marketing budget.  This is accomplished by obtaining the most profitable results of marketing campaigns not getting the best deal price from the media companies.  Secondly, don't waste time on making change for change sake.  Just because you as the owner or advertising manager are bored with the branding or marketing campaign doesn't mean that it is ineffective.  If the resources that have already been invested in the marketing campaign are still yielding results then it is still working and shouldn't be revamped.  Your customers and financials will dictate when a change needs to happen.  

There are many techniques a guerrilla can use to save on marketing budget.  The first is through the barter system.  Media companies may need your products or services and you can trade these for ad time.  Secondly, a guerrilla can utilize cooperative advertising which is where large corporations will cover a portion of advertising costs in exchange for a placement or mention of a product in your ad.  Third, enter into a per inquiry or per order deal with the media.  This basically means in exchange for discounted or free advertising time, the media company gets a cut of your profit.  This means your firm doesn't have to risk marketing funds.  

Lastly, track the performance of the media and tactics your company is using.  This way you can tell if they are effective and you can focus on not wasting the marketing budget.  By tracking performance, ineffective media and tactics can be eliminated.  One way to to this is through customer surveys.  If you don't want to bother the consumer with them, then run different key codes per media that is used for advertising.  This way consumers enter the code during purchase and you can track the source of the lead.  This can be done through unique phone numbers and URL's per media as well.