How Bright is Your Local Advertising Strategy?
Studies show that 3 out of 5 businesses will close their doors in the 1st year. A major contributor to these failures is due to poor advertising and marketing (or lack thereof). The fact of the matter is that many business owners know they are the best at what they do -BUT- the problem is NO ONE ELSE DOES. With so much competition in today’s market, you simply will not succeed in business without a solid marketing plan. Sounds easy, but with so many marketing opportunities, you better chose wisely. All too often businesses invest large sums of their already limited budget for an even more limited return.
Local Advertising will help you to better understand which types of advertising programs are mosteffective for your specific market.
First things first, there are 3 very important RULES to consider before choosing where to invest your marketing dollars:
- Know Your Potential Customers
How old are they? Do they have children? Do they own a car? You need to know how closely the advertising medium’s audience is compared to the audience you need to reach. - Return on Investment
Yes, cost is very important, but make sure you focus less on how “cheap” you can advertise for and focus more on what the returns can be. If you own a company that insures automobile owners you would do considerably better by spending twice as much to place your advertisement in front of 5,000 first time car buyers then you would spending half the money to be seen in front of 10,000 people that already own vehicles. Remember, just because one marketing campaign is effective for one business does not mean it will be effective for others. - Delivering your messageMake certain your campaigns allow opportunities to effectively deliver your message. Does the marketing offer any assistance? Do they have any success stories or testimonials?
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