Advertising can be summed up as the mental rental business. Because that is what we do daily, we rent space in our customers’ minds.
So, to stay on top of everyone’s mind we must invest in our real estate wisely, that is put our money where our ads can make maximum impact. It all boils down to a showdown between budget and expectations. Do you know the price of an online banner campaign or how much does a billboard cost? And then how every penny works to grow your brand.
As we could all use some fine in our finances, here are some things to think about while you plan your next campaign.
Put your money where your target is
Choose to put your ads where your audience is more likely to meet your brand. Does your target use their phone a lot? Invest in mobile ads. Are they moviegoers? Buy up ad space in theaters.
What if they drive through town most of their time? That’s a tough one. You could make some radio ads, but what if they listen to their own tunes? Maybe it’s to know how much does a billboard cost and get your brand on one ASAP.
Keep in mind the budget vs. expectations mindset we talked about. Every medium comes with a price. Radio ads might be cheaper than TV commercials, but they don’t have the same reach. The same goes for digital ads compared to more traditional mediums. Focus on what you are willing to spend, envision the results you want, and reach a sweet spot.
Words can’t buy you money
But they can grab your potential customer’s attention and that’s worth quite something. Your copywriting can raise or sink your campaign. Always use the golden words to get the most out of your ads.
And something to think about. Every medium has a price on words. Digital ads have certain specifications on how many characters you can use and how many words are in your caption, but that is only natural in a medium where the average user has the attention span of a goldfish, according to a recent study.
Or maybe you know how much does a billboard cost, but do you know how much a word on a billboard is worth? In short, write something that your audience wants to read and it will return to you in spades.
ROI wasn’t Built in a Day
Start small. Don’t be a big spender when you begin. Experiment with various mediums, more ad formats, more writing styles and buy less ad space. Find out what works and then if it is not broken, don’t fix it. Built on it. Use the same medium, the same ad format, and the same style, improve them and buy more space for it.
If you play it smart, your budget will grow, and your expectations will be shattered. A good strategy, a sound media plan, and good creatives should be part of your advertising budget as much as the actual ad space you buy.
What you Pay is not always What you Get
When considering where to put your advertising budget to use, go big on smart choices. Instead of choosing to spend more on expensive traditional media, think out of the box and try new media instead. Instead of releasing limited edition posters, why not try to make an NFT?
Always be ready to try something new. Emerging technologies like blockchain and crypto-currencies plus new communications channels such as TikTok might prove a better, cheaper investment in the long run than established, tried, and true formulas of yesterday. Embrace change for your brand and as Ezra Pound used to say: Make it New.
Why worry about how much does a billboard cost, when you can get digital billboards for less? Less is more and new is better. Try to add these to your communications recipe and soon you will be cooking a very tasty campaign.
So, now you’ve got a taste of how to make each penny you invest in advertising work for you. Go out there. Play creatively and think of every ad as an investment. Manage both your budget and your expectations. Fine-tune them until it feels right then begin your take-over of the market. The next time you spend on advertising you will be ready to succeed by putting your money where it counts.
Photo: Freepik
