I am certain that, as a business owner, you have oftenentertained the question as to how much to spend and where tospend your advertising dollars. For most small business owners,these questions can add to the headaches suffered in the courseof normal everyday operations of their business.
THERE ARE NO SIMPLE ANSWERS
The how much to spend and where to spend it questions have noeasy answers.
Depending on your type of business, many people suggest that the*how much* should be equal to anywhere from 4% to 10% of yourgross receipts.
The quandary is that a business cannot survive without a freshflow of incoming customers. But, a business can seldom generatea fresh stream of customers without spending money to get theword out about their business.
THE CHALLENGE OF DEVELOPING EFFECTIVE ADVERTISING
Have you ever paid for advertising and sat back to await thefresh flow of customers, only to find yourself sitting andsitting and then sitting some more?
Don't feel bad about that. It has happened to many of us before.
See, knowing where to spend the advertising money is not enoughto get the job done.
Where to spend the money only begins to highlight the otherissues connected with advertising:
· Marketing Plan· Advertising Strategy· Headlines, Ad Copy and Visual Presentation· Tracking the Success of Your Advertising Campaigns
THE MARKETING PLAN
The Marketing Plan is used primarily to identify your ownproducts and services, costs, strengths, weaknesses and thestrengths and weaknesses of your competitors.
ADVERTISING STRATEGY
It is important to understand what you expect to gain from youradvertising.
Do you simply wish to get your name known so that when yourcustomer will need you, they will think of you first? Or, do youwish to get your customers in your front door on Saturday?
Do you want your customers to come in and take a look around todiscover the next object that they cannot live without? Or, doyou want them to come in and buy a specific widget?
Do you hope that enough people will come in to buy enoughproducts or services to pay for your single ad? Or, do youexpect to gain a lifelong customer who will help pay for youradvertising over the course of several years?
When you know what you want, then you will better understandjust how to do it.
HEADLINES, AD COPY AND VISUAL PRESENTATION
You might be surprised how many business owners put outadvertising without regard for the quality of the sales pitch orpresentation. The quality of your distribution outlet or theamount of money you spent to get there will do little for you ifthe advertising vehicle is a junker.
Test all of your advertising materials in smaller markets beforeblowing your advertising bank roll on it. You must absolutelyknow the value of your advertising before putting large sums ofmoney behind it.
TRACKING THE SUCCESS OF YOUR ADVERTISING CAMPAIGNS
Tell your customers to save another 10% when they tell you theyheard or saw your ad in such-and-such location. Suggest thatthey can register to win a free widget if they fill out a formand have them to tell you how they heard of your business.Advertise a specific widget in your ad and track the sales ofthat widget.
It does not matter how you track your advertising --- just makesure you do it!
IN SUMMARY
The ideal way to spend your advertising budget is to buy a riflewith a high-powered scope and to only shoot your targets in thelight of day.
If you are not tracking your advertising, then you are shootinga pellet gun without an attached scope, with blinders on, andshooting in the dead darkness of night.
Even with a bigger gun, the blinders in the dark constitute thesingle largest mistake made by advertisers. If you are unable totrack your advertising to learn what is working well, what isworking somewhat, and what is a money pit, then you arecondemned to repeat your mistakes over and again.
By relying only on gut instinct, you may be choosing to spendmore money in the money pit and to lose all of your money in theprocess.
When you get down to the nuts and bolts of making money fromyour advertising, you should plan, prepare, track and study yourresults. You must have factual information on which to base youradvertising decisions. When you are making the right advertisingdecisions, then making money from your business might just comeeasy.
About the Author:------------------------------------------------------------Stone Evans, The Home Biz Guy has helped thousands of peoplein over 200 countries around the world start and run asuccessful home business. Discover 3 easy steps to startyour own home business and subscribe to The Home Biz Guy'sFree Home Business Secrets Mini-Course at:http://getresponse.com/click.html?x=a62a&lc=IuP3&mc=f&s=Hi996&y=i&------------------------------------------------------------
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