Advertising is the link between the supplier and the consumer, communication and information, the medium and the message, but how do we make it more cost effective.
Cost effective methods of advertising is very important because you will have to add the cost of advertising to your product. Your aim should be to sell the product with minimum price margins while covering all other costs you have incurred.
How do you do this?
Analyze the benefit of your product. Who has the need for your product? Discover your potential customers and Isolate particular features of your product to pin point for your customer’s benefit when you advertise. Target your market.
Concentrate on where the most people of your segment can be reached. If you want to sell women’s clothing, it will not do in daily paper very well. Just research a women’s magazine or news paper, and even from those, find out where your particular fashion or product would be most appropriate. And also research the popularity of the magazine. Most women buy women’s weekly, placing your add in that will be very much effective than placing it in a newspaper or Fashion magazine with very few readers. It is same as placing your advertisement on internet. You have to find the specific niche and even from that specific niche, the most suitable one. For women’s clothing, you have to find a niche for Fashion or clothing, according to your customer view point, and then find a particular interesting site where women would be most likely to read.
Some times the circulation of the paper or magazine of your choice will be more than half compared to other papers or magazines, but half of the readers may only buy it for the pictures, a quarter for the sport and the rest will buy mainly for the crossword. So don’t be deceived by massive circulation. Do a research first. Call the advertisers and inquire how many responses they got. If you can do a free survey for the readers of the paper or magazine, you can clearly decide weather it is worth advertising on it.
I have seen that most people tend at least to get one or two responses from a simple newspaper than advertising on the Internet. But you should not miss the web, you will be successful according to your advertising campaign and search engine ranking. Do not waste your money on banner ads. People get irritated by them and you will never get a response.
Make your ad very simple so that readers can clearly identify the product. Newspapers and magazines – will probably take most of your budget. Your aim should be to reach the bulk of your audience. You can find community magazines to advertise your business, probably if it is a niche for your target audience. Otherwise it will be waste of money. Probably garage sales and specific services in the area can get a good response through community newspaper and your local news board.
A way of advertising without expenditure in the web is placing your clothing or what ever product pictures in a free blog. Make it attractive. Find sites with lot of traffic. Submit your blog there. If you are very creative and have a target in your mind, you can lure people to your website. Make a good story or yarn that will tell something interesting related to that product. It is vise not to try marketing guru method of story telling. You must be very creative to attract a reader to your blog.
If you are doing a service business, place your blog in a community site that attracts lot of traffic from your area or country. Make it interesting with stories related to your business, so that people will continue coming to your website. You might get some recommendations from your readers even if they are not in need of your service; they will direct people who are searching for a service.
Placing your ad in Yellow pages is very effective for some service type business. This way you can get exposure throughout the year. In all cases you should try to minimize your costs and maximize your profit. You should be able to cover the cost of your advertisement by your sales.
You can advertise using direct letters, E-mails and leaflets. You have to be very careful of the way you describe your business using this method. Use minimum words with most important details that would interest your recipient. They will probably do a short scan and throw it away, so it is very important that your description is eye-catching. Why not offer a free item if they buy your product. Ex: Pizza leaflets. I love to have them; they contain mouth watering pictures and clear descriptions. When you take the leaflet to them, they will offer a pizza to you for a low prize. And with that, they will give you another leaflet so that you keep going to them often. You feel like, I must not miss this chance of reduced prize. And even more, they offer you amazing low prices if you order during an off-peak hour. That is one of the most effective way of advertising I have seen. You can try this in your website and offline promotions, so that customers keep coming to you again and again. But your service should be really good and on time. Otherwise customers will not come to you again. In a website if you have software that automatically process sales orders and letters with minimum human participation, you can prevent many errors.
Other options: Press release, Exhibitions, displaying your ad in your own vehicle. Giveaways like calendars with your business and web address and many more methods according to your imagination.
No matter how you advertise, your ad should be eye-catching. You need to think how people’s instincts work.
- Many people read the head line only. Ads with a headline that promise a benefit will have a more chance of being read by four times as many people.
- The reader’s eye follows form illustration to headline to copy, so lay out your ad in that order.
- Photographs are more believable than drawings, and the bigger the illustration the more the ad is likely to be noticed.
- Putting in the price is very important.
- Putting large chunks of capitals discourage readers.
- Color is more important than size.
- Only 5 percent of your readers may actually read your ad.
This is the fact. So you must be very careful before you spend on an advertisement. The main force of your sales effort will probably be through advertising. Advertising will not shift a bad product more than once or create a new market. It must be backed up by sales literature, order forms, a sales force, stocks, distributors and a strategy.