As we all settle back after the Christmas and New Year break many old and new businesses will be making decisions on how to spend their advertising budget, or indeed how to maximise the returns from a limited budget.
These decisions are compounded by the myriad of options available in today’s marketing place.
But don’t be concerned, because with a little bit of thought and planning you will be able to choose the options and platforms that will give your business the best return for your money.
KNOW YOUR CUSTOMERS:
A key consideration of course is to know who your target customers are (you can’t be all things to all people). Answering this key question will inform you as to whether you should be considering spending your money on traditional advertising (press, radio and outdoor), of if you should focus on the digital space – where the choices and options are becoming more numerous by the week. Or maybe you’re keen to explore both options to maximise exposure for your brand and your business.
Whatever way you choose to go, it is important that your advertising campaign stands out from your competitors, so do invest in the look and feel of your advertising campaign. A key element in this regard is to emphasise the Point of Difference between your offering and that of your competitors, or focus on the Value Proposition that you are offering customers.
Of course budget considerations are paramount when planning advertising campaigns. However, you should also consider the pros and cons of traditional advertising versus digital.
TRADITIONAL OR DIGITAL MEDIA?
Traditional advertising is still a great way to create brand awareness and to spread the word about your offering. However, a detailed analysis of readers and listeners is difficult to drill down through. On the plus side, many consumers still enjoy their daily read and favourite radio shows and many also are slow to adapt to the digital age, and these should not be discounted when it comes to promoting your business.
Digital media on the other hand, particularly Facebook and Twitter excel in the delivery of detailed customer analytics, and both platforms are continuing to develop their advertising offerings to the benefit of businesses.
In particular, Facebook have recently launched the Power Editor advertising solution on Chrome, and this helps local businesses to drive awareness by increasing foot traffic on in-store sites and also puts a focus on flexible target radius around your business based on population density.
Another great feature of Power Editor is that it allows you to select the action you wish consumers to take – i.e. Get Directions; Call Now; Send A Message or Learn More.
Facebook advertising solutions also allow for Lead Generation by using short, customisable forms that are ideal for growing your business database, and for beginning that all important one-to-one relationship with potential customers.
Twitter has been a little behind the 8-Ball with their advertising offering. However, they have quickened up the pace in recent months and Twitter Ads help businesses to drive Website Clicks; increase Conversions; increase Followers and facilitate App installations.
Twitter Cards are also worthy of consideration as they allow businesses to grab the attention of potential customers with the use of rich photos and videos on the Twitter platform.
Hope this advertising overview is of help, and the very best of luck to you and your business in 2016.
