Wednesday, January 12, 2011

Common Myth: I need to advertise in EVERYTHING!!

False. Your budget is important, after all, that's why we set them. Many small business owners feel they need to put a little bit of money into a lot of different advertising vehicles, such as newspaper, magazine, radio and/or television. By doing this, you're not getting the maximum exposure or benefit from each of these mediums. Chances are you're choosing the smallest ad for the least amount of time.

So how do you get more for your money? Find which vehicle gets the most ROI (Return on Investment) and run with it. Lets say you tried newspaper and magazine - the newspaper got a call or two and the magazine ad sent more traffic to your website, resulting in more sales. There is buzz about your magazine ad campaign, and you're establishing a brand. You may want to move your dollars to the magazine.

Now, imagine if you put your advertising dollars into a method that is already working. Maybe it's running your ad more often, or going to a larger size, investing in special issues or doing a profile spotlight. Once you've got your viewers and the return is coming in, you have successfully advertised.

The most important thing to remember is, it doesn't work over night. Many small business owners run 2-3 ads and think they are not working because the doors aren't being run down. Advertising is like fine wine, it gets better with age. It takes time to reach your viewer and establish a brand. This is why staying consistent is so important and why stopping your advertising can hurt, not help, your business.

No comments: