As the owner of a small business, you are constantly faced with decisions. My concern is with your marketing decisions. How to spread a limited budget and get the best ROI on that marketing budget? An integrated approach can give the most bang for your dollar, resulting in more qualified leads and targeted sales. I know, I play this violin all the time, but over time the results prove it out.
What are the pros and cons of the various media placements?
- Newspaper – Pros; saturate a specific distribution area, perfect for “Act right now” offers, great for announcing upcoming events, useful for building brand familiarity. Cons – very short term exposure, newspaper readership is down, targeting a specific market is difficult but not impossible, relying on this medium can get expensive because of the need for frequent repetition.
- Magazine – Pros; good for brand building. ads have a much longer life span. Cons; relatively expensive, targeting somewhat diffuse, compared to newsprint they have a more limited distribution.
- Direct mail – Pros; with todays’ technology campaigns can be highly targeted, ideal for controlled testing of offers. Cons; expensive.
- Radio and TV – Pros; can fine tune targeting to a certain extent, can provide very timely offers (radio), can be very effective at brand building. Cons; can be very expensive, especially TV as production costs can be high, “call to action” effective if listener or watcher is in the mood to buy at the time they see or hear the ad.
- Web site – Pros; longevity, good brand building, can provide in depth information, photos, video, audio, can be very cost effective, ideal for online sales. Cons; must consider ways to drive traffic to the web site, it must be kept fresh – you can’t just put it up and forget it, limited interactivity unless it’s an e-commerce site.
- Other internet marketing (Local search, social marketing, email marketing) – Pros; extreme targetability, can be very cost effective or even free if you have the time, ability to keep very current, very interactive as it’s there when the customer or potential client is specifically looking for your product or service, the fastest growing marketing services with new effective ideas being produced continually. Cons; can require a considerable amount of time, professional services can be expensive (shop around).
What is best for you? Who knows? It is helpful to sit down with a consultant to set your goals and set your budget taking into consideration not only monetary considerations, but also your time commitment.