How sure are you that your newspaper advertising works? Henry Ford (1863 – 1947) was scathingly critical of mainstream media advertising.

Conceding that press advertising was flawed, the Irish-American industrialist said, ‘advertising half works and the other half doesn’t, but I cannot tell which is which’.

Newspaper advertising is the only business investment bought on a promise to deliver without a guarantee that it will. Purchasing space is tantamount to purchasing a restaurant ticket with a blank menu.

When we advertise in the media, we cross our fingers. If we are honest with ourselves, we know in advance that there is no guarantee that more customers or higher profits will result from transferring our money to the newspaper owner’s bank account.

The average newspaper is 80 per cent composed of conventional advertising. Much newspaper advertising is concealed, such as an advertising feature veiled as newspaper editorial content.

These will include fashion reviews, travel advice, or health education paid for by medical practitioners.

The only ones guaranteed to make money from advertising are newspaper owners. This explains why there are so many newspapers and periodicals struggling for a share of the businessman’s profits.

Press advertising is a gravy train, but as a business owner, your responsibility is to prioritise your business, not the newspaper owner’s business.

BUSINESS BOOSTER by Michael Walsh, known as ‘The Business Doctor.’

QUOTABLE QUOTES: ‘It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money – that’s all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do.

The common law of business balance prohibits paying a little and getting a lot; it can’t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that, you will have enough to pay for something better.’ ~ John Ruskin. You can share this story on social media:

TELL US WHAT YOU THINK.

THE BUSINESS BOOSTER Michael Walsh, during 20 years Guild of Master Craftsmen, helped thousands of businesses to increase profits whilst reducing overheads. EURO WEEKLY NEWS business advice columnist. Perfect gift for the self-employed, wherever you are in the world. https://michaelwalshbooks.wordpress.com/