The advertising/marketing expenditures of a small business are often quite sizable following only personnel/payroll and inventory expenses. So how and where those advertising dollars are spent is arguably as important as your personnel and what types of products/services you choose to sell.
Too often, media (online, television, radio, newspaper, outdoor, direct mail, etc.) is chosen for the wrong reasons: “I know someone”, “it seemed affordable”, “my competitor is using it”, “the pricing seemed fair”, “I had a creative idea”…and the list goes on and on. Although these reasons are understandable, they should not be the main factor(s) when determining which medium will deliver the best results.
A few facts to consider when choosing the right medium to communicate your message:
- Know the math behind what you are getting such as cost, cost efficiency, and reach.
- Know the target(s) that you are speaking too…minimize waste.
- Know what percentage of sales is needed to create the desired results; and which medium will convey your message best.
- There are a lot of new and evolving platforms, don’t let emotions drive the decision, utilize trusted resources to support the investment.
These are just a few areas to consider and yet very important. Advertising is investing in one’s business…and its future.
The main points that advertisers should consider when buying media are that the options are greater than ever, and they all work to varying degrees, but they can create challenges as well. We live in a very exciting and innovative time when it comes to media consumption, and yet it is more difficult to choose than ever before. Get the facts, do some research, utilize a trusted source, and don’t rely on opinions or passing comments. Make decisions for your media mix, your investment, based on your customer’s habits and not your own, or your friends, or your employees, but from a professional that has the facts.
- Search Engine Marketing/PPC
- Display Ads/Retargeting/Native
- Social Media Ads
- Over-The-Top TV (OTT)
- Email Marketing
- Outdoor Ads
- Direct Mail