No matter who you are, no business has unlimited resources to spend on advertising. That’s why you’ve got to make every dollar count to get noticed.
There’s always the one philosophy that some businesses try — at least the ones with deep pockets: throw a bunch of crap on the wall and see what sticks (I think there is another way of saying it — but we’re PG-rated here). But for most of us, we’ve got limited resources. So we have to make our marketing dollars really work hard for us.
Pinpoint your audience
The first step in making your advertising budget count is to know your audience.
You would be surprised to learn that many companies struggle trying to figure out who they want to sell to and which customers we give the greatest return on investment. That makes sales efforts unfocused.
Common-sense questions to guide your decision process:
Who are the customers you want?
What is the most targeted way to reach these new customers?
For example, if you’re a business-to-business company or mostly sell to targeted industries, the best likely dollars spent are with trade magazines, business sections or publications, and direct mail. While there are exceptions, I am willing to bet that cable TV to general audiences would probably not make sense.
Or what if you are running a sports complex geared toward teens and families? Your best chance in driving trips is to talk to the teens directly.
Plus, let’s not forget who most research points to as family decision-makers — the moms. Selecting from advertising on the local Top 40 radio station, parent and lifestyle magazines and a handful of the cable TV networks can pay big dividends with the right audiences.
When you select which media will work best, ensure that your message is compelling. When being forced to compete with so many other messages, make your advertising stand out. Many companies leverage the idea and creative capital of professional advertising agencies or marketing consultants of the various media outlets.
In the end, nobody knows your business like you do. But always ask yourself: Who do I want as customers, and what is the most efficient way to communicate with them? Then you’ll be well on your way to effective use of your advertising resources.
