|
|
|
|
|
|
|
|
|
|
|
Most business owners and managers keep a fairly close eye on their marketing budgets.
And nothing throws a budget out of whack faster than advertising.
Advertising, or paying good money to get your message in front of your target market, still has a place in your marketing mix, although it's not quite as effective as it once was.
If you're going to advertise, you need to be smart about it -- or you can quickly find yourself with a blown budget and not much to show for it. Below are seven questions to ask yourself before writing out that check.
1. Do you need to generate customers/traffic/leads/etc. right away? If so, then you better pull out your wallet. Advertising is hands down the fastest way to get your message in front of your target market. (You're paying for placement after all.)
2. Do you have another way to get the word out about your business? For instance, do you have a customer database or an e-zine list? If so, then you might be better off sending an e-mail (assuming you have customers' e-mails). Although technically e-mail announcements fall under advertising, I'm not counting it in this particular case because it's more or less free (or very low cost).
Perhaps you have a good news angle and a good relationship with a reporter. Or you have a high-traffic Web site and/or blog. Or maybe you're an active volunteer with a large organization and can use networking to get the message out.
But if none of those really apply, then you'd better take a closer look at advertising.
3. Do you need to augment your other marketing efforts? Maybe you have articles featured on a Web site targeted to your customer base. Great when your article is front and center and not-so-great when your article is buried in archives. A little advertising on that site can keep you in your target market's sight all the time. Or maybe you struck gold and got a big article written about your company in the perfect trade publication. Fantastic for that month and not-so-fantastic for the other 11 months of the year. Or maybe it's taking you longer than you'd like to drive traffic to your Web site. Advertising is good for speeding things along.
Frequency is king when it comes to marketing -- if you're out of your customers' sight, you're probably out of their mind when it comes to buying time. Advertising is a good way to beef up or speed up what you're already doing.
4. Are other marketing methods not appropriate in this situation? Let's say you want to have a sale. But your customer database is small (or nonexistent). Your Web site has minimal traffic. And you aren't going to get any bites from the media since having a sale isn't news. What do you do? Run some ads.
5. Would you rather save time than money? Let's face it. Running an ad is easy. Other marketing methods are more time-consuming. If you want your marketing to be easy, then advertising is about as easy as it's going to get. (Now there is a caveat to this one, because you can hire people to do some of those marketing tasks, such as updating Web sites, running PR campaigns, etc. However, not everything can be hired out so you still might be stuck spending time you don't have.)
6. Are you planning to test a new campaign or a new product/target market? Running small, inexpensive ads can be a good way to test certain marketing aspects before launching big, expensive, time-consuming campaigns. If you want to penetrate a new market or if you have a new product to launch or a new marketing message to try, buy some ads and see what the response rate is. Another strength of advertising is control -- you have total control over your test.
7. Do other marketing approaches never quite measure up? It happens. Advertising in one or two specific media outlets seem to generate more sales and more leads then anything else you've tried. If that's the case, then don't mess with it. As the old saying goes, if it ain't broke, don't fix it.
Creativity Exercise -- Advertising and your business
Is advertising right for your business? Try this exercise and see.
1. What's your biggest marketing challenge right now? Write it down.
2. Go through the above list of questions and ask yourself each one. Does it apply to your situation? If it does, write that down too.
3. Do some brainstorming. In what ways can you use advertising to solve your marketing challenges? What media would work best? Online? Print? Radio? Television? Direct mail? Something else? Make up an ad for a variety of media.
Now do the exact opposite. Think of ways advertising WON'T work for your business. Brainstorm at least 25 reasons why advertising won't work for your specific situation. Be silly. It's a good way to loosen you up.
4. Go back and reread both your pro and con lists. Now read your ads. Do you like what you came up with? Do any of them resonate with you, even now after coming up with your list of objections?
You may have just come up with your next advertising campaign.
Michele Pariza Wacek is the author of "Got Ideas? Unleash Your Creativity and Make More Money." She offers two free e-zines that help subscribers combine their creativity with hard-hitting marketing and copywriting principles to become more successful at attracting new clients, selling products and services and boosting business. She can be reached at http://www.TheArtistSoul.com. Copyright 2005 Michele Pariza Wacek
Are you confused by all the information you receive from... Read More
Most people who have been involved with sales & marketing... Read More
Would you like to get your new or existing Internet... Read More
The most common way to drive people to your business... Read More
Make a list of everything you think should be included... Read More
The very name "advertainment" sends thrilling vibrations up the spine... Read More
If you are an ardent web surfer and MLMer like... Read More
Custom LED Display, as the name specifies, facilitate control anything... Read More
One of the challenges facing marketers is determining the most... Read More
It's been said that the antidote to liking/loving is not... Read More
An effective way to gain company recognition is to order... Read More
This is the second part of creating your own business... Read More
Good Advertising creates more production, thus greater consumption, faster turnover... Read More
Your Yellow Page Ad Deserves More than 10 Minutes of... Read More
To promote the audience, staff, customers and other people the... Read More
In the sign industry we commonly refer to the material... Read More
People say it all the time: "This advertising costs too... Read More
Sorry, I Don't Seem to Have a Business Card With... Read More
1. Place copies of your circular on bulletin... Read More
Often considered as "plain Jane's" of the print world, trade... Read More
"Print & Mail is a type of service that... Read More
Business cards with nothing on the back are wasted opportunities... Read More
The content of advertising is basically the same no matter... Read More
"How brochures can help you stand out from the competition,... Read More
Your business is listed in the Yellow Pages whether you... Read More
What are you trying to say with you business card?We... Read More
Recently, a woman called to ask about replacing a magnetic... Read More
Advertising has truly become a part of all of our... Read More
Bob is excited about his new business. He secured funding.... Read More
Do you remember how proud you were the first time... Read More
The single easiest way to increase sales is to look... Read More
Creating a logo to get you noticed.When you're branding a... Read More
1. Place copies of your circular on bulletin... Read More
To succeed in today's crowded marketplace where most of the... Read More
Your business is listed in the Yellow Pages whether you... Read More
The logo and graphic elements that you include on your... Read More
2005 puts us at the mid-point of the first decade... Read More
I got another one of those calls the other day...Can... Read More
Ask some businesses about radio advertising and they'll tell you... Read More
In today's fast paced environment, interaction with family and friends... Read More
It is getting harder daily to generate traffic.And when you... Read More
The great Claude Hopkins (Author of Scientific Advertising) once said,... Read More
Business cards with nothing on the back are wasted opportunities... Read More
Many groups like the Chamber of Commerce, ASB at the... Read More
There have been several ads promoting books and reports on... Read More
This is the second part of creating your own business... Read More
All sales begin with some form of advertising. To build... Read More
One of the most powerful tools available to small businesses... Read More
You certainly must know that Many Big Marketers consider COPYWRITING... Read More
Many people online are not using one of the best... Read More
Advertising Advertising |