Posts Tagged ‘advertising businesses’

Marketing Chalk Talk: Spending vs. Investing Your Ad Dollars

Wednesday, March 31st, 2010

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Don’t just SPEND your marketing budget, INVEST it! Invite the right people into your business and keep inviting them…Top Of Mind Awareness is key for consistent business growth.

I hear many questions about advertising from local business owners…among the most asked is, I don’t know if my budget is large enough or how to get started?
I always say it’s not rocket science…just know who your target demo is and reach out to them, invite them into your business. The demographic you want to reach or should be reaching is usually the age, gender, etc. of the person that spends the most on the items/services that brings you the greatest return.
Once you figure out who those people are, start talking to them, be it radio, TV, print, internet, outdoor billboard, what ever the medium you choose, make sure you’re consistent. Don’t just advertise for a week or a month…NEVER spend all of your budget in one full splurge. Stretch it out and be consistent…did I mention consistency is key?
It’s better to build up your frequency factor over a long period of time, reaching those consumers that are in the market for your products or services NOW and those that WILL BE in the future. If you have a call to action product or service, there is a way to make that work as well while increasing your business consistently.
If you have a large budget, by all means go for it! Invest, Invest, Invest! But for those of you who don’t have that LARGE budget to compete with national business, be smart and invest your ad dollars wisely. Top of Mind Awareness (TOMA) is key to business growth and that is achieved by being consistent.
When it’s done right, it is an investment, not an expenditure. After all, if you put your hard earned money into something that makes you more money than what you put in, isn’t that an investment? The answer is yes…ding ding ding, what do we have for them Johhhhn-nneeee!