Businesses are continually looking for ways to gain an advantage over their competition/rivals. One of the main avenues for this to be achieved is through their specific marketing and advertising strategies. Businesses should be aiming to reach as many of their identified targeted market as possible in the most cost-effective fashion, to give them the best possible return on investment.
Don’t assume that if you spend a lot of money advertising, then you will automatically see big returns. It is the content of your advertisement that matters most. Your content needs to find a way to the customer’s heart. A boring advertisement will not help you at all. Give the customer what they want, but always make sure the content is relevant to the product.
Once you find the message that customers receive warmly, we recommend you to deliver that message consistently. This will cause your company to grow.
You might find a good message for your advertisement but don’t know which medium to use. There is a range of advertising mediums available for your small business, including print, radio, outdoor advertising, digital advertising, and social media marketing. Choosing the right medium depends on the characteristics of your business.
Outdoor advertising (i.e. billboards) gets more exposure than any other form of media, reaching the most people per dollar invested. However, this form of media has its limitations. You can only use one picture and a few words. Choose your picture and words carefully!
Radio advertising reaches the second most people per dollar invested. The main limitation to radio, however, is that is can only be loosely demographically targeted. Radio works best for companies selling a “we come to you” service or if people are willing to drive long distances to buy your product.
Cable television advertising gives you the opportunity to use moving images as well as spoken and/or written words. Cable television can also be easily geographically targeted. Broadcast television works if you have a large budget, because it is expensive. However, with the large variety of networks and programs, you can easily target or audience, and you can develop a reputable name for your company.
Newspaper advertising is efficient if customers are trying to buy the product on that day. Otherwise, you are likely wasting your money and should be using another medium. With magazines, you can easily target your audience, as most magazines attract a specific demographic. In this sense, it is efficient as little money is wasted. However, magazine advertising is expensive. Direct mail advertising is similar but to a more extreme nature. You can target your audience all the way down to the individual, but it is very expensive.
Finally, digital marketing has become a good option for all kinds of businesses. Social media advertising allows you to target your audience based on their interests, gender, and age. Email marketing is another easy option to consider. You can also use search engine optimization or pay-per-click to effectively reach your audience on the web.
Now that you know most of the mediums available, your first step should be determining your target audience. How old is your audience? Does it more attract the female or male demographic?
Products geared toward young adults should definitely consider digital marketing and television. Adults ages 18-49 are heavy consumers of the media. Most young adults own a computer, and most use at least one form of social media. Facebook ads, email marketing, and TV commercials are most effective with this demographic.
If your demographic is female-based, you have a couple things to consider. If you are a small business such as a hair salon, local magazines, newspapers, and television channels are a good option. For products and services meant for a bigger female audience, television advertising can be placed on talk shows, sitcoms, and reality TV, to name a few.
For the male audience, your choice of medium largely depends on your product’s age demographic. Many males aged 12-24 spend a good amount of time playing video games and sports, so advertising on popular video game and sports websites is recommended. You can even place a billboard in a video game, but you will have to negotiate with the video game creators before the game is finalized, of course. Males aged 25-44 spend much of their time on the internet or watching TV. So do males aged 45-64, but this demographic also listens to the radio more than younger demographics.
Clearly, there are a lot of things to consider when choosing the right form of advertising. We hope that we have made it a bit clearer for you. If you need help, The 360 Degree Marketing is happy to get in touch with you and come up with a plan!
If you would like to learn more about how social media marketing can help your business, download your free copy of our social media checklist by clicking the link below: