Post on 14-May-2015
description
So many advertising choices
So little budget
What is advertising?
Advertising is
• Non-personal• Paid for• Identified sponsor• Sponsor-controlled • Intrusive• Persuasive
(emotional)• Investment
Advertising is not
• Marketing• Promotion• Personal
selling• Public
relations• Infomercials• Email • Trade shows
• Mugs and pens
• Classifieds• Yellow pages• Google
AdWords• Coupons• Live sampling,
demos
Strengths
• Complete control over message • Complete control over media
placement • Lower cost per prospect than direct
selling• Pervasiveness permits repeated
messages• Investment in product equity• Enhances competition
Weaknesses
• Non-responsive/interactive• Limited access to senses • Limited time/space for complete
info• Payback over time• Growing resistance by consumers
• Saturated and overwhelmed• Feel advertising is irrelevant to them• Want more regulation and limits• Interested in products that block intrusion
Which sort of advertising is
right for your business?
Which sort of advertising is
right for your customers?
You should be asking yourself…
You will waste your money if you don’t understand your
prospectGenerally• Where they live• Demographics• Their values• Opinions vs. behaviors
• Their choices• Money, time, energy
You will waste your money if you don’t understand your
prospectSpecifically• Wants and worries• Options they are considering • Steps to the decision• Considered vs. impulsive
• Influences• Personal experience, information, opinion-
leaders, rumors, friends, kids, mood, self-esteem, comfort level, risk, value, blogs…
Do not even think about advertising until you…
• Know what your prospects want• Understand how your
product gives them what they want• Have a “story” that will
connect the dots for them• Know when/where to fish
The media rep has one for you
If you don’t have a strategy
You will waste your money if
you don’t have a strategy• Objectives• Audience• Positionin
g • Messages• Budget• Timing• Evaluation
You will waste your money if
you don’t have a budget• Percentage of annual sales• Cost-per-person reached• Cost-per-person reached X
times• Cost-per-targeted person
reached• If you cannot afford to succeed
with advertising, use another tactic
Newspapers
• Advantages• Reach large number of people in area• Flexibility in ad size • Targeted placement in paper• Message available for re-exposure• Quick turn-around
Newspapers
• Disadvantages• Waste• Clutter• Poor production quality• Weak medium for image-building• Environment is price-promotion-oriented
• Short shelf life
Newspapers
• Questions to ask the media rep• Distribution (paid vs. subscription)• Readership demographics• Page position guarantee• Competitive exclusivity• Day of week
Magazines
• Advantages• More targeted than newspapers• High reader involvement• Good production quality• Smaller page allows smaller ads to “pop”• Good for image-building• Ads last longer without wearing out
Magazines
• Disadvantages• Clutter• Long lead times• Risk being overtaken by timing• Limited flexibility
Magazines
• Questions to ask the media rep• Distribution (paid vs. subscription)• Readership demographics• Editorial calendar• Competitive exclusivity• Page position guarantees
Radio
• Advantages• Portable• Creatively flexible• Theater of the mind• Stations provide
creative/production help
• Formats allow targeting• Type of audience• Day-part
• Rates often negotiable
• Radio rates stable over decade
Radio
• Disadvantages• Diffuse audience• Requires frequency• Gone with the wind• Interruptive• Background
Making radio work
• Repetition is key• Bunch ads together• Advertise when people are
listening• Spread message across similar
stations• Creative, captivating, memorable• Assume people will not write down
info
Radio
• Questions to ask the media rep• Audience• Stations with similar formats• Share (by quarter, day-part, program)• :60 vs. :30• Creative/production help• Reach and frequency• Cost to reach your target 5-7 times
Television
• Advantages• Broad reach• Targetable• Specific programs• Specific day-parts
• Sight, sound, motion• Image-building• Creative/production help from station
Television
• Disadvantages• Short ads• Best times often sold far in advance• Requires frequency• Gone with the wind• Interruptive• Background
• Good quality is expensive
Television
• Questions to ask the media rep• Audience• Share (by quarter, day-part, program)• Creative/production help• Reach and frequency• Cost to reach your target 5-7 times
Outdoor / Transit
• Advantages• Frequency• Low clutter• Build name-recognition• Quick communication• Good for targeting broad audience• Good for long-term visibility• Movable
Outdoor / Transit
• Disadvantages• Loss of detail• Placement is key
• For success…• Integrate with other media
Fliers / Posters
• Advantages• Targetable by location• Clutter• Build presence as “citizen”
Fliers / Posters
• Disadvantages• Placement is labor-intensive• Need cooperation of venue• Require maintenance• Clutter
Web advertising
• Advantages• Analytics making it easier to target• e.g., Facebook ads
• Sight, sound, motion
Web advertising
• Disadvantages• Old models don’t work• Intrusiveness• Interactivity
• User, not sponsor, in control • Hunter vs. hunted
Direct response(a bridge between advertising and
sales)• Advantages• Highly targetable• Personalizable• Flexible• Message• Timing
• Adjustable
• Measurable• Involving• Produces quick
results• Hide from competition• Relationship-building
Direct response
• Disadvantages• Escalating costs
• For success…• Use it only when you have a specific
behavior you want to stimulate• List + Offer + Design
Final thoughts
• Fish where the fish are• Use a rifle, not a shotgun
• Speak your target’s language• Talk about what matters to them• Integrate with other marketing
tactics
Final thoughts
• Set standards for production quality
• Support your positioning platform• Tell the truth• Know the law• Trademark, copyright law• FTC rules about words like “new”
Final thoughts
• Keep good company• The more differentiating your
message is, the less you need to spend on advertising
• Advertising is not an expense
--> It’s an investment