Create a more Cost Effective Advertising Campaign for your Small Business
Creating a cost effective advertising campaign is a challenge for any business owner large or small. Advertising is expensive and it’s only getting more so. People are also much more distracted than they have been in the past do to the massive amounts of competition in advertising and switching from one device to another.
Things like the ability to fast forward through live TV , switching between multiple devices ( up to 21 times an hour )or even just the ability to look away has made advertising incredibly expensive and competitive. The Harvard Business school recently published a working paper that detailed the frustration of the rising cost of advertising. In the “The Rising Cost of Consumer Attention: Why You Should Care, and What You Can Do about It by Thales S. Teixeira ” They look at how things like attention span and an ads ability to sufficiently capture their audiences attention enough to act has continued to rise despite the available ways to reach the consumer. research states that since the attention span of audiences have gotten shorter it’s important to keep cost per ad lower to give the advertiser the ability to purchase more ads for their budget, as well as making sure they are able to grasp their attention sooner.
Hitting them in the feels
Before something can be sold their attention must be caught first. One of the biggest steps to creating a cost effective advertising campaign is making sure you waste no time in capturing the attention of your audience. Often this is done by presenting a common problem and then a solution to solve it. In other cases this is by provoking a specific emotion out of the audience. things like fear and compassion are both popular. Grabbing the attention of the audience creates a consumer focused, attention getting ad that conveys a message and sells.
Work on your Brand
Often Small Business owners do not feel the need or urgency to establish a brand identity.It can be a challenge because so often they do not believe their budget allows for more than a direct response campaign that delivers immediate sales.
In order to create a cost effective advertising campaign it is important to make sure that you are integrating a good mix of media that hits people on multiple levels and in multiple environments. ” You want to reach your target consumer on many levels of media. Your consumer may not always be listening to the radio or reading the paper on the train into work. When you pair several mediums of media you keep you brand in front of the consumer everywhere they go and your brand will stay at the forefront of their mind when it comes to shopping.” Doug Knowles
“A consumer will not always act on a direct response ad if they’ve never of your company or understand the purpose of your product. Or they may be loyal to a specific brand. Most branding campaigns are designed to showcase your company/products features, benefits over the competition. In a branding campaign there is more opportunity to showcase whether something is made in America, all organic, recyclable, cost saving etc etc. When you’re branding , you are planting a seed in the consumer to be aware of your company can offer them. This increases awareness and sales.”
Add in some print advertising
Print advertising does not get the most attention in terms of flash and pizazz. But it productively reaches audiences in a way that most other media cannot in today’s society. Print advertising is unique in its longevity and coverage. With Nationwide publications advertisers can cover large areas at a lower cost than many other types of advertising, while also investing in a form of advertising that does not disappear as soon as the end of the campaign.
“Print advertising is one of the few forms of advertising that people are still turning to, instead of turning from. With print advertising, newspaper, magazine, anything you get in the mail people make the choice to consume those things at a specific time. They are more tuned into what they see. Print Advertising has a audience that is receptive to making purchases because they are expecting to see a good deal! Print products are also seen my multiple people. Print publications like USA Today boasts a readership with a HHI of $75,000 per year and studies have also attributed traditional forms of media to be the best overall at reaching and engaging millionaires “The majority of my clients want to reach high income households or consumers who are 55+ because they the current most active, highest earning “ consumer group.” Doug Knowles an Account Executive for MCA-RussellJohn who represents a variety of publications including USA Today, Globe, Examiner, National Enquirer , and Healthy Living among many other well known titles.