Flamer,
You admit to just delving into advertising and marketing yet you already know what works and doesn't work?
Do you think there is a reason why every major brand manufacturer gives out coupons every week at the local grocery store? A coupon is nothing more than a discount you can hold in your hand and you have to actually go somewhere to redeem it and do you know what happens when people go into a store with a coupon for one thing - they end up purchasing other things at retail prices more than 50% of the time. I learned this in college while getting my Marketing degree. Walmart isn't as successful as they are by banking on singular shopping experiences.
So you are telling me that getting a product in front of 1000 people a week for as little as its gonna cost you is a bad idea?
Look... most small to medium shops have a woeful marketing budget and/or strategy. A lot throw money at direct marketing strategies that are cheap, but end up returning nothing and way too many just live and die by word of mouth and a precious few take shots at everyone else for daring to do anything out of the norm.
I don't do wraps, I hate to even bring coroplast into my shop and I only do banners because thats what 70% of wide format is (Infotrends survey).
The most disturbing thing is that its 11:00 on Friday night and I am waiting for the flatbed to finish the last board and I am on this forum while my wife and kids are at home asleep.
The problem with marketing qualifications is they tend to be overly simplistic and make the flawed assumption that multi nationals and small businesses can be lumped into the same group.
Walmart sells thousands of commodity products which they don't manufacture. Thanks to their retail power they are able to turn to customer supplier relationship on it's head... if you want to supply supermarkets with Milk for example the supermarket buyer will tell you the price you are going to get. As it's impossible to sell milk in volume you need the supermarket more than they need you, ergo the supermarket dictates a very low purchase price which makes them a healthy profit upon resale in their stores. It's also worth pointing out that most special offers and promotions run by supermarkets are paid for on the suppliers Dollar. A supplier will be told "hey we're doing a buy one get on free offer on your product so you need to supply twice the volume at the same price". Walmart is generous with promotions because ultimately they aren't paying a dime for anything.... the supplier takes all of the financial hit.
Walmart is a in a strong position precisely because they are in position where they can bully and intimidate their suppliers into these promotional activities. Walmart DOES not drop their profit margin at any point... promotion or not the supermarkets continue to make the same return on sales... the supplier of the product on promotion is a different story.
In the small scale sign & display business context the promotional activities you embark upon are paid for entirely by you and your profit margins. Suppliers in this industry aren't going to offer sales support, they aren't going to donate rolls of material and gallons of ink to support your promotions... you've got to pay full suppliers list price. If Walmart were in the same situation their promotions would number virtually zero.. .promotions which cost them money= bad. Promotions which cost them nothing= good.
In any case the comparison between companies like Walmart & Coke is flawed. We all make bespoke, one off products to order. There are none of the same economies of scale and there is no ability to bring mass production into the mix. Moreover, companies like Coke sell a product which costs virtually nothing to produce... a can of water, some cheap processed sugar and some flavouring, total production cost of no more than 5p. Retail this for 65p and you're making a hefty profit which means there is plenty left for marketing & promotional activity.
Following the marketing systems used by multi national food manufacturers and retailers can lead you to make false assumptions and also invest money in the kind of promotional activities which will never produce a worthwhile return.