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Advertising Tips
Using Media to Market Your Business
Nearly any business that operates in today's complex marketplace must advertise to stay alive, grow and compete. With so many options, how does a business decide on a strategic investment which best supports its advertising message?
Ad Planning & Budgeting
Many businesses make two mistakes when they plan their advertising. The first is budgeting based on habit: what they spent in the past is what they'll budget for the future, with a percent or two for inflation. This does not allow them to take advantage of opportunities or deal with competitive challenges. It is only slightly better than the second common approach: looking in the cash register to see how much you can afford today.
How Your Market Shops and Spends
Before you can advertise at all, you need to understand your customers. Many advertisers know their target market - their age, income, education and the like - but understanding how they shop will affect when you advertise, where you advertise and how often you advertise. A few concepts deserve consideration as you begin to develop your marketing plan: 1. The "Thin Market" 2. Recency and 3. Frequency.
