Saturday, October 02, 2010 1:05:28 PM
also before it is touched on i wanted to put out my thoughts on the statement of 'due to lack of marketing budget'. please note i am in marketing so this applies to pretty much any business situation like this not just owvi:
1. brother bruce does not work for 1wc so he does not know their marketing budget
2. brother bruce is running a business and wants to keep paying sponsors no matter what
3. i am guessing prior wants to keep the relationship open so it is common to give excuses why you do not want to continue a service at the present time. again brother bruce, or whoever works his sales department, was playing the part of salesman. we have all have sales calls before...
does this mean he is lying when he says it is successful?
it could, he could say that in case joyntster is covertly doing research to decide whether to advertise so it is in his best interest to say his ads were successful.
on the other side he has no reason to believe that and no reason not to be honest. i mean it is a religious show right? especially if they were interactive ads and he remembers talking about them.
so why would prior stop them then?
hard to say. could be they were not successful. could be he budgeted for them as part of a launch program but did not budget on ongoing activity. this is supported by 'shift to giving away promo items' statement. lack of budget for radio ads does not mean no budget to advertise. perhaps he allocated funds to the new push he is currently involved in as per don. we have not heard direct from the company so we can not confirm yet. then again we did not hear a lack of funds from them either.
to get back on track it could also be it was a success. yes continuing ads always help but once you get the word out and have customers the cost to advertise may not still pay off. the big guys out there advertise to us all the time, especially when there are very similar big competitors and no advantage to using one over the other or the product is just not novel. the other people who advertise a lot are new ideas/products etc. then we are inundated by ads for a while, but over time they stop. does that mean the product failed? sometimes, but most times it just means they now have enough repeat business or public awareness that they do not need to break the bank by advertising.
sorry for the long post, i just wanted to be proactive and share. this (advertising/marketing) happens to be a subject i am pretty well versed on with no research needed.
so while the best news may of been owvi continuing to advertise as it shows more exposure, activity, and ability to budget i am not sure this is bad news. if they needed to continue i would be more inclined to say the first round did not bring in enough interest and now they have to expel more cash. personally i am big fan of promo give-aways. radio is fleeting and most listen without access to a pen so its left to word of mouth. not that it is a bad medium but something tangible that people keep with them is remembered and often turns to a topic of conversation. plus it is very cost effective, especially in busy areas like one world house...
My charts are my own. Any numbers or timing are based on my interpretations of what I consider to be the most likely price movement. My interpretations can be can be wrong, it is always best to do your own charting.
Anything else I post is purely opinion
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