Advertising 101
You want customer acquisition and retention to be easy, but in reality, all good things require a little discipline to attain. Your ultimate goal is to reach the right customer with the right message at the right time. Now that your mind is framed around the concept of investing a little work for a good outcome, think about your marketing and/or advertising.
Ad Agencies
You may be thinking if you just had enough money, you could outsource and use an “Ad Agency.” Depending on the size of your business, this may be a fantastic option; however, as with all partnerships, be cautious and ask for testimonials and references.
Marketing Plan – Customer Worth
If you decide you have enough time and energy to market your own business, here are some tips. First, you must commit to lay out a marketing plan. If you aim for nothing, you will hit it every time, right? You need to figure out how many customers you want. This may sound a bit crazy, but this helps you set reasonable expectations for your marketing plan. What is a customer worth to you? $5, $50, $500? If you only advertise a sale item and you don’t have a peripheral to attach to that item, then your advertising could cost you a lot more than you're thinking! Again, this is very basic thinking but well worth your time to consider. To calculate what a new customer may be worth, simply divide your average daily sales by your average daily customers; that may give you a feel of what a new customer is worth. Note: Always remember -- loyal repeat customers should always be your main focus! Two things to keep in mind: First, what you win them with is what you keep them with -- if you become known for your discounts you must always offer discounts; whereas, if you win them with why you do what you do then that's equally what you will keep them with. Second, branding is a slow but invaluable process -- you want potential customers to think of you first in your industry. We all have a finite amount of top-of-mind awareness in which to store a brand for reference when that product or service is required. Building a brand requires a strong and steady marketing plan.
Curb Appeal
Whether you are a new or established business, there are some marketing components that you must consider. First is “curb appeal.” How does your sign look? Can people find you from your signage? Do they know you're open? Do you have your hours posted in vinyl lettering and do you keep those hours? Do you provide good customer service? If you are the owner then you may believe all these things are fine, but I would encourage you to get someone you trust to help you evaluate these items as a 3rd party. Also, don’t forget local chambers and universities offer many great FREE customer service classes!
Social Media
Next you need to consider your web or social networking component. You may need a website, but that can come in time unless your business is dependent on e-commerce. At a minimum you must have a Facebook page for your business! There are several other social networking options out there that would be very good to spend time on, but Facebook is fundamental and FREE unless you want to use their advertising - which is fantastic and well worth strategically using to boost your presence in your targeted area. Instagram had now become a invaluable part of the landscape and if you link your social accounts correctly you can post on Instagram, Facebook, and even Twitter in one interface, saving time.
Yard Signs/Handbills/Posters
If you’re looking for low cost advertising solutions, a very traditional yard sign, handbill and/or poster campaign can go a long way. It is not generally recommended to put flyers under the windshield wipers of cars, but some people do use it with success. Also, if your material is dated, please remember to take it down at the end of the promotion! The cool thing about yard signs, particularly over their big brother the billboard, is that they are low cost and mobile! You can change which corner they are on, which can prompt a very cool interaction game with potential customers. Be careful when designing yard signs or posters - give some thought to keeping it simple because, in some cases, they will be passing your signs at 35-55 mph. If your font is too small, there is too much information, or the coloration is such that there is not enough contrast to read the message, your yard signs will fail you.
Newspaper
Next to consider on your marketing plan is local newspaper. Newspaper feels really good. You see your business in black and white in your local community and it just boosts your morale. Newspaper is still a very viable advertising medium, but be cautious - make sure that the reading audience are your customers and that you put a big enough ad for it to be useful. Most print sellers would advise one large ad in a week’s time being better than four tiny ads over month.
Regional Magazine
Regional magazine is another great way to advertise, but remember ad size and reading audience are fundamental in deciding how much money you place on this chip. Usually, this advertising venue allows for color ads which can help in making your ad pop!
Radio
Don't get radio before you’ve looked at the other pieces of your marketing plan, or you will do yourself a major disservice. Radio is taking your message and amplifying it! Radio can be done while viewing all of the advertising mentioned above and below, and if it hits together, you have a very powerful ad campaign! What type of ad do you need? There are two major types of ads to consider. First is the “name recognition” or "branding" type of ads. These are short - 15 seconds or less - and cost much less per play but are used in higher intensity. This type is better for an established brand. The second type of ad is a “time spent” ad. These are 30 second or 60 second ads and will give information about product offerings, events, sales, and sometimes multiple ways to contact the entity during peak times. Ads can range from serious to funny, but remember radio is the only medium that creates “theater of the mind.” By using descriptive words, situations and characters, the listener interjects themselves into the ad and creates an image (either good or bad) about your business! Also, you want to think about when to run your ads. Consider the demographic you are trying to reach and hit those day-parts first! Remember, local radio like WSKV is much more engaging and targeted than our bigger brothers’ so don’t be deceived that a larger audience is necessarily better and justify the higher expense. A good recommendation is that you do both if your budget will allow. In general, don’t be talked out of any advertising outlet - rather the opposite. When you advertise in multiple different ways you are creating a reputable image. Also remember those advertising reps are customers too!
It is increasingly rare in radio advertising, but we here at WSKV want to deal fairly with all of our customers, so we publish a standardized rate sheet for you to look at before you contact us. Also the Radio Advertising Bureau has done a study of how many commercials you should consider per week to best engage listeners with your product or service. There are so many variables that affect this number, but it gives you a starting place. Remember when you look at a terrestrial coverage map that this is detailing direct broadcast area and additional online presence. Also remember to ask yourself not if you’re located in a specific broadcast area but rather if you want the customers from that area. Lastly, Liquid Fire Marketing has done extensive research on “Buying Cycles” for certain products. A buying cycle is, in general, how long it takes from the “Oh, I think I need that” to the “I’m going to go buy it there.” This is very important to know so that you can better determine the effectiveness of a campaign.
Digital Display
The digital landscape is vast. Pay Per Click, Pre-Roll Video, Programmatic Display, Native news feed advertising, targeted Social, Connected TV, organic Search Engine Optimization can in some cases also be paired with Geo-Targeting and/or Geo-Fencing layers that can help keep your ad dollars targeted at your customer and not wasted on non interested parties. This type of advertising follows the customer instead of hoping the customer happens upon your advertising. You can serve your right message to the right person at the right time very effectively in this medium with the most meaningful and accurate reporting numbers of any type of advertising. It does cost a little more money to play effectively in the space but adding this to your arsenal can definitely be a game changer.
We at Pickup Media Group have journeyed through the market landscape tasting the rare spices and testing the unique fabrics. After our long adventure we have partnered with a national digital marketing company. This relationship gives us the resources, products, and reach to help radically change your business and the way you do your advertising. Don't hesitate to contact us for any or all of your digital advertising needs!
TV/Billboards/Non-Traditional
TV is awesome if you are looking for a statewide or national audience for your product or service, but remember it must be done well! Moving sight and sound are fantastic but it is expensive in most cases. When you see a poorly done, standard definition, unbalanced lit or badly edited commercial, one automatically makes a judgment call about that business, so be careful! Billboards can be very powerful if they are combined with other advertising mediums, but be cautious not to put all your advertising eggs in one basket. Make sure they are along a route where your customers go and that you have the funding to change them monthly or bi-monthly. Lastly, non-traditional advertising - sponsorship of school sports, local festivals, golf scrambles, clubs, organizations, etc. - can be a very effective form of advertising, but you must be careful because it can become very costly per impression! Also, you have to maintain balance among organizations and try not to show favoritism in small communities. Remember that the members of these organizations are customers too! Also, if you sponsor someone’s kid, it speaks volumes about your business!
The Wrap-up
Don’t forget that co-op, bulk buys, business share programs and more can help all of your advertising become more affordable, so check your vendors or building owners for special options. You want to be a huge success in your business, so if you have any questions about promoting your business, I would be happy to help or pass you on to someone that is more specialized in a particular area (859) 771-9676 or [email protected]. My least favorite radio ads are going out of business sales! So be smart, develop a marketing plan and hopefully at some point I can help you with some radio!
You want customer acquisition and retention to be easy, but in reality, all good things require a little discipline to attain. Your ultimate goal is to reach the right customer with the right message at the right time. Now that your mind is framed around the concept of investing a little work for a good outcome, think about your marketing and/or advertising.
Ad Agencies
You may be thinking if you just had enough money, you could outsource and use an “Ad Agency.” Depending on the size of your business, this may be a fantastic option; however, as with all partnerships, be cautious and ask for testimonials and references.
Marketing Plan – Customer Worth
If you decide you have enough time and energy to market your own business, here are some tips. First, you must commit to lay out a marketing plan. If you aim for nothing, you will hit it every time, right? You need to figure out how many customers you want. This may sound a bit crazy, but this helps you set reasonable expectations for your marketing plan. What is a customer worth to you? $5, $50, $500? If you only advertise a sale item and you don’t have a peripheral to attach to that item, then your advertising could cost you a lot more than you're thinking! Again, this is very basic thinking but well worth your time to consider. To calculate what a new customer may be worth, simply divide your average daily sales by your average daily customers; that may give you a feel of what a new customer is worth. Note: Always remember -- loyal repeat customers should always be your main focus! Two things to keep in mind: First, what you win them with is what you keep them with -- if you become known for your discounts you must always offer discounts; whereas, if you win them with why you do what you do then that's equally what you will keep them with. Second, branding is a slow but invaluable process -- you want potential customers to think of you first in your industry. We all have a finite amount of top-of-mind awareness in which to store a brand for reference when that product or service is required. Building a brand requires a strong and steady marketing plan.
Curb Appeal
Whether you are a new or established business, there are some marketing components that you must consider. First is “curb appeal.” How does your sign look? Can people find you from your signage? Do they know you're open? Do you have your hours posted in vinyl lettering and do you keep those hours? Do you provide good customer service? If you are the owner then you may believe all these things are fine, but I would encourage you to get someone you trust to help you evaluate these items as a 3rd party. Also, don’t forget local chambers and universities offer many great FREE customer service classes!
Social Media
Next you need to consider your web or social networking component. You may need a website, but that can come in time unless your business is dependent on e-commerce. At a minimum you must have a Facebook page for your business! There are several other social networking options out there that would be very good to spend time on, but Facebook is fundamental and FREE unless you want to use their advertising - which is fantastic and well worth strategically using to boost your presence in your targeted area. Instagram had now become a invaluable part of the landscape and if you link your social accounts correctly you can post on Instagram, Facebook, and even Twitter in one interface, saving time.
Yard Signs/Handbills/Posters
If you’re looking for low cost advertising solutions, a very traditional yard sign, handbill and/or poster campaign can go a long way. It is not generally recommended to put flyers under the windshield wipers of cars, but some people do use it with success. Also, if your material is dated, please remember to take it down at the end of the promotion! The cool thing about yard signs, particularly over their big brother the billboard, is that they are low cost and mobile! You can change which corner they are on, which can prompt a very cool interaction game with potential customers. Be careful when designing yard signs or posters - give some thought to keeping it simple because, in some cases, they will be passing your signs at 35-55 mph. If your font is too small, there is too much information, or the coloration is such that there is not enough contrast to read the message, your yard signs will fail you.
Newspaper
Next to consider on your marketing plan is local newspaper. Newspaper feels really good. You see your business in black and white in your local community and it just boosts your morale. Newspaper is still a very viable advertising medium, but be cautious - make sure that the reading audience are your customers and that you put a big enough ad for it to be useful. Most print sellers would advise one large ad in a week’s time being better than four tiny ads over month.
Regional Magazine
Regional magazine is another great way to advertise, but remember ad size and reading audience are fundamental in deciding how much money you place on this chip. Usually, this advertising venue allows for color ads which can help in making your ad pop!
Radio
Don't get radio before you’ve looked at the other pieces of your marketing plan, or you will do yourself a major disservice. Radio is taking your message and amplifying it! Radio can be done while viewing all of the advertising mentioned above and below, and if it hits together, you have a very powerful ad campaign! What type of ad do you need? There are two major types of ads to consider. First is the “name recognition” or "branding" type of ads. These are short - 15 seconds or less - and cost much less per play but are used in higher intensity. This type is better for an established brand. The second type of ad is a “time spent” ad. These are 30 second or 60 second ads and will give information about product offerings, events, sales, and sometimes multiple ways to contact the entity during peak times. Ads can range from serious to funny, but remember radio is the only medium that creates “theater of the mind.” By using descriptive words, situations and characters, the listener interjects themselves into the ad and creates an image (either good or bad) about your business! Also, you want to think about when to run your ads. Consider the demographic you are trying to reach and hit those day-parts first! Remember, local radio like WSKV is much more engaging and targeted than our bigger brothers’ so don’t be deceived that a larger audience is necessarily better and justify the higher expense. A good recommendation is that you do both if your budget will allow. In general, don’t be talked out of any advertising outlet - rather the opposite. When you advertise in multiple different ways you are creating a reputable image. Also remember those advertising reps are customers too!
It is increasingly rare in radio advertising, but we here at WSKV want to deal fairly with all of our customers, so we publish a standardized rate sheet for you to look at before you contact us. Also the Radio Advertising Bureau has done a study of how many commercials you should consider per week to best engage listeners with your product or service. There are so many variables that affect this number, but it gives you a starting place. Remember when you look at a terrestrial coverage map that this is detailing direct broadcast area and additional online presence. Also remember to ask yourself not if you’re located in a specific broadcast area but rather if you want the customers from that area. Lastly, Liquid Fire Marketing has done extensive research on “Buying Cycles” for certain products. A buying cycle is, in general, how long it takes from the “Oh, I think I need that” to the “I’m going to go buy it there.” This is very important to know so that you can better determine the effectiveness of a campaign.
Digital Display
The digital landscape is vast. Pay Per Click, Pre-Roll Video, Programmatic Display, Native news feed advertising, targeted Social, Connected TV, organic Search Engine Optimization can in some cases also be paired with Geo-Targeting and/or Geo-Fencing layers that can help keep your ad dollars targeted at your customer and not wasted on non interested parties. This type of advertising follows the customer instead of hoping the customer happens upon your advertising. You can serve your right message to the right person at the right time very effectively in this medium with the most meaningful and accurate reporting numbers of any type of advertising. It does cost a little more money to play effectively in the space but adding this to your arsenal can definitely be a game changer.
We at Pickup Media Group have journeyed through the market landscape tasting the rare spices and testing the unique fabrics. After our long adventure we have partnered with a national digital marketing company. This relationship gives us the resources, products, and reach to help radically change your business and the way you do your advertising. Don't hesitate to contact us for any or all of your digital advertising needs!
TV/Billboards/Non-Traditional
TV is awesome if you are looking for a statewide or national audience for your product or service, but remember it must be done well! Moving sight and sound are fantastic but it is expensive in most cases. When you see a poorly done, standard definition, unbalanced lit or badly edited commercial, one automatically makes a judgment call about that business, so be careful! Billboards can be very powerful if they are combined with other advertising mediums, but be cautious not to put all your advertising eggs in one basket. Make sure they are along a route where your customers go and that you have the funding to change them monthly or bi-monthly. Lastly, non-traditional advertising - sponsorship of school sports, local festivals, golf scrambles, clubs, organizations, etc. - can be a very effective form of advertising, but you must be careful because it can become very costly per impression! Also, you have to maintain balance among organizations and try not to show favoritism in small communities. Remember that the members of these organizations are customers too! Also, if you sponsor someone’s kid, it speaks volumes about your business!
The Wrap-up
Don’t forget that co-op, bulk buys, business share programs and more can help all of your advertising become more affordable, so check your vendors or building owners for special options. You want to be a huge success in your business, so if you have any questions about promoting your business, I would be happy to help or pass you on to someone that is more specialized in a particular area (859) 771-9676 or [email protected]. My least favorite radio ads are going out of business sales! So be smart, develop a marketing plan and hopefully at some point I can help you with some radio!