| |
| |
|
Advertising Information |
|
|
|
Forgot The Ad Budget? Dont Panic!
Bob is excited about his new business. He secured funding. He leased the building. He stocked it full of new gadgets. He hung the sign. He posted a banner on his window that reads,"Grand Opening!". And now he stands behind the counter, waiting for customers to come flocking in. And he stands there. And he stands there. And he stands there. And then it hits him: No one knows about his shiny new store! I've seen new and even established businesses make this same mistake over and over again. Advertising is the last thing they think of. They assume that since their doors are open and the merchandise is on display, customers will come running in. But they won't come. Not until they know how great your new business is! And to do that you need to plan and execute an advertising budget and strategy. Many times I've been called in to consult with a new business to help plan their ad strategy well after their stores have opened when in fact, this is something that should have been done during the initial planning stage. So is it too late? No, but sometimes it's a major sticker shock to those who did not put a realistic plan together from the start. Remember that advertising, like your store and your merchandise, is an investment towards your profits. But let's say you're like Bob and your business is already up and running. How do you put together a realistic ad budget? Well most people use a percentage of gross sales as a means of figuring this out. If however, you're a new business owner with no prior sales, you can base it on industry standards. Use the web and search out other related businesses for a guide. Once you've figured what your gross sales should be, think about using 3 to 5 percent as a starting point for your ad budget. Another factor to consider when planning an ad budget is that it should encompass all aspects of your advertising from media placement to creative costs and production of your ads. And remember: advertising must be done with consistency. Let me write that again. Advertising must be done with consistency. When planning your ad budget, make sure you allot enough funding to allow it to last throughout the year whether your sales will be spread out evenly or are cyclical. If you spread your budget too thin, chances are your ad campaigns may not be heard or seen enough to stay in the minds of consumers. And if your business is brand new, you'll want to plan on spending more at the beginning for your initial start up campaign. Some businesses make the mistake of advertising strong for about three to four weeks and then they stop. Keep in mind that consumers have very short memories and with 3000 plus advertising messages that pummel their brains everyday, it's no wonder! That's why you have to stay in the public's eye consistently. Oh, and it also helps to have a clever message but we'll talk about that in another article. Once your ad budget is established, the type of advertising you use will be based on your specific business but normally if your business is consumer based, even in these modern web based times, traditional media such as radio, television, print, billboard and direct mail should still play major roles. Many times I've helped clients put together an in-house survey for their customers to fill out. This can be helpful in determining what type of advertising they'll need as well. Questions like, "What radio stations do you listen to?" "Do you subscribe to the newspaper?" and "Do you shop on-line?" can be useful in getting to know your customer's habits as well as how to attract more like them. Consulting an advertising agency is a very good way to get started as well. To find a good agency, try contacting other business owners you know for a referral or perhaps an established business whose advertising style and creative appears to fit your goals. Remember: planning your advertising budget and strategy is as important as the products your trying to sell. Think about your advertising now and you'll never end up like Bob: standing behind the counter waiting for customers that never come. Hal Eisenberg is an award winning copywriter, voice over talent and producer, as well as owner of The Eisenberg Agency, a full service advertising agency specializing in creative ads that get results. Visit his web site at http://www.eisenbergagency.com. Mailto: halacious@eisenbergagency.com.
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Take Your Radio Ads to the Next Level Most small businesses do not have a high poweredadvertising agency to produce award-winning radiocommercials for them. Most award-winning radiocommercials win for the wrong reasons anyway. Dont Be a Secret Agent This tactic of the game was hard for me to master and at first I failed many times. I carried my business cards only in my briefcase, because I thought they were only used in business. Why Your Ad Failed So you spent good money on an ad, put it in a magazine or newspaper, and waited patiently for phone calls that didn't materialize. You're upset: you feel that you've wasted money and time, and now you're convinced that advertising doesn't work. Classified Ads That Get Results Classified ads do not have the big market appeal that a full color display ad has, but they are still one of the most economical ways to get your business into the public eye. And, because classifieds do not demand expensive eye-catching designs or ingenious wording that you often see in direct-mail campaigns, they are a perfect marketing avenue for even new entrepreneurs. Predictions for 2010 2005 puts us at the mid-point of the first decade of the new millenium. What will things look like at the end of the 1st decade of the new millenium in the world of advertising? I thought I'd project where the ad industry is headed and what 2010 (or sooner) might look like. Ten Secrets for Getting FREE Advertising The opportunities for getting free advertising for yourproduct or services are only limited by your imagination andenergy. There are so many proven ways to promote withoutcost it's truly mind-boggling! Here are ten proven methods. I Dont Want to be Different To succeed in today's crowded marketplace where most of the products and advertising look exactly the same, a small business owner must stand out, shouting above the din with a message so clear and compelling that prospects stop and take notice. It's a matter of business survival. Brochures - The Ultimate Sales Tool "How brochures can help you stand out from the competition, close the deal, and even build repeat business."Most brochures are nothing more than a collection of a few pictures and a few details about a business. Harness the Power of Direct Marketing - More Small Business Power Tools One of the most powerful tools available to small businesses is direct mail. By this I don't mean electronic, Internet-based mail, but the old-fashioned kind that requires a stamp and a trip to the post office. 5 Reasons Why Headlines Are Crucial To Your Website's Success Without a powerful headline, your message stands little chance of being noticed in an increasingly competitive marketplace. If your headline doesn't capture attention and pull prospects into your sales copy, than your marketing effort is a total waste of energy and resources. What Makes A Winning Online Ad? Most people who have been involved with sales & marketing for any length of time have heard the axiom, "Sell them what they want. Then sell them what they need". Radio Interview 101 Different Types of Station ContactReaching radio hosts (for the purpose of trying to get booked foran interview) can take on various forms, depending on the typeof station the show is done at. What's best? All of them at thesame time, of course. Imprinted Promotional Items - Their Many Marketing Applications There are many uses for promotional items. This means that they are just not used as freebies for a grand opening special. Secrets And Top-Tips Of Mail Order Advertising Good Advertising creates more production, thus greater consumption, faster turnover and lower sales price per unit. To a great extent it determines the success or failure of the mail order operator! When working up an advertising program remember that what is genuinely desirable to you may or may not appeal to the majority of your prospects! Different types of merchandise or services demand completely different advertising media. Creditability In Advertising I recently saw an ad taped to my mailbox, mind you, my mailbox is shared by many residents of my area. The postal real estate is typically reserved for flyers of lost dogs, cats, small children, etc. Make the Right Advertising Decisions Advertising is a powerful and somewhat frustrating marketing tool. It enables us to launch new products and services, increase sales, and increase awareness. 7 Tips for Better Ads The content of advertising is basically the sameno matter what the media. It is good and it works,or it is bad. Increase Business By Being Nice I have been reading articles on increasing sales using search engine optimisation as well as writing them for a very long time and I have not seen many which point out the best way to increase sales.The answer is obvious yet often overlooked; you just have to be as good to your customers as you would expect any other site owner to treat you. Testimonials Convert Prospects Into Buyers Big businesses get instant credibility with their well-known company name or brand name. But small companies have to create their own credibility. Worn Out Brochure Design Is Keeping Small Business Owners Down I got another one of those calls the other day..
|
| home | site map |
| © 2006 |
