A business owner must make important decisions every week. Some decisions can have a huge impact on the growth of the business. To be successful, you have to make smart decisions about the use of limited resources. Consider these tips to make good decisions about advertising.
If you own a startup business, spending decisions can be particularly challenging. Growth can be difficult to predict. Some owners make the mistake of adding large costs that are not supported by the company’s growth. A firm may overspend on a phone system or on office space, for example.
Every business must advertise to get customer attention and generate interest. Companies face dozens of advertising choices, both locally and online.
Assume, for example, that you manufacture clothing for the hiking and biking market. You sell products directly on your website and also through retail stores. Your target market is middle-aged hikers and bikers who are serious about their hobby.
Given all of your advertising choices, it can be difficult to determine which strategy will be most effective. Many firms use a direct marketing company to help them with advertising decisions. These companies have media buyers who can direct your advertising message to a specific target audience.
A media buyer may decide that you should use TV and cable ads. Those ads will be placed on specific outdoor sports programs to target your audience. The media buyer will select the programs, channels and the number of times that the ads will run. These experts can help you maximize your return on your ad spending.
Many businesses use a content marketing strategy for their advertising. The advertising message is embedded in content that your audience reads on your website.
Google has recently increased the importance of useful content for search rankings. You can increase your site’s search ranking by consistently posting new and interesting content to your website. Each blog or article includes opt-in buttons. When a reader clicks through and provides their email address, they can get additional content from you. That content may be delivered in an e-newsletter, for example.
Each of your blogs and articles also includes advertising. Say, for example, that you manage a chain of sporting goods stores. Your content can include links to download discount coupons for your stores. As your build a relationship with your clients, they will read more of your content and see more advertising messages.
POP Display ads
Many buying decisions take place when a consumer visits a store location. When you visit a grocery store, for example, you might decide to buy a product when you see a display ad. Using point-of-purchase (POP), display ads can still be an effective advertising strategy.
Assume, for example, that you sell charcoal through retail stores. You advertise on TV and cable during baseball games. Your firm places ads in sports and outdoor magazines, and online.
During summer months, you set up display ads in grocery stores. The stores group charcoal together with grilling equipment, hotdog buns and other barbecue items. Many customers who see the display ad have also seen your other advertisements. The display ad often motivates them to make the final decision to buy your product.
Every business has to operate using limited resources. Your decisions about spending can have a big impact on your business results. Use these tips to get the most out of your advertising budget.