Choosing The Right Advertising Presented 20100216

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In the hyper-media world of today the advertising choices are without limit. Small businesses face many options with little budget. Therefore, advertising decisions must be very efficient and get the best return for the advertising investment.

Learn the basic process that should be used in your advertising decision process. By choosing the right audience, objectives and message first, the advertising channel that you choose will have a much higher chance for success.

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Choosing The Right Advertising Presented 20100216

  1. 1. Sigma Free Presents… Choosing the Right Advertising Sponsored by: AdzZoo • Target Your market • Launch Your Campaign • Make Your Business Go Bananas! Provided by Sigma College of Small Business, Inc.
  2. 2. Sponsored by: Agenda Introductions Keynote Topic Choosing the Right Advertising Our sponsor AdzZoo Break Ask  Questions  Keynote Topic Any Time Choosing the Right Advertising Choosing the Right Advertising 2 Copyright 2010 Sigma College of Small Business, Inc.
  3. 3. Sponsored by: Sponsored by: Seven Steps – for Choosing the Right Advertising Describe Audience(s) • Segment the market Audience • Audience priorities and needs • Buying behavior Objectives Promotion Objectives • Desired audience action – now and future • Frequency of response • Response volume Message Message • Audience priorities and needs • VALUE proposition • General and specific messages Budget Budget  • Investment • Expected return v. cost Methods • Risk Methods • Channels • Mix Results • Frequency Measure the Results • Set goals for response and measure results Follow‐up Follow‐up on Response • Plan for follow‐up – start the sales process Adapted from Philip Kotler, Marketing Management, 9th Ed. (Upper Saddle River, NJ:  Prentice Hall, 1997), ch20. Choosing the Right Advertising 3 Copyright 2010 Sigma College of Small Business, Inc.
  4. 4. Sponsored by: Nissan Delivers.  Ever driven over 600,000 potholes – on purpose? We have. The Altima must withstand  Starting at $29,930. The sleek curves of the all‐new  more than 5,000 quality and durability tests to ensure  Nissan 370Z captivate you first. The feeling grows as  it delivers years of performance.  It also has to be fuel  332 horsepower and precise control take you through  efficient, getting 32 hwy mpg. Of course, it must be fun each thrilling turn.  Even the lines of the well‐crafted  to drive. Sure, we’re hard on that car, but the Altima interior inspire joy. Bliss, it seems, is found one curve at  can take it. On top of that, it won a Consumers digest  a time. Look Closer. Nissan Delivers at NissanUSA.com. Best Buy Award.  Starting at $19,900. Choosing the Right Advertising 4 Copyright 2010 Sigma College of Small Business, Inc.
  5. 5. Sponsored by: Defining the Audience Segment the Market • Geographic ‐ physical location of buyer • Demographic ‐ Age, family characteristics, gender,  occupation • Psychographics ‐ Lifestyle and personality • Behavioral ‐ Occasions, benefits, user status, usage  rate, loyalty, buyer readiness, attitude Audience Priorities and  • Do they know/understand the need and solution Needs • What do they value most from the solution • Where does it rank against other needs and desires Buying Behavior • Where are they in the buying process • Impulse buy or extended buying process • Understand Influencers and Decision Makers • Where do they get their information – Proactively and Passively Choosing the Right Advertising 5 Copyright 2010 Sigma College of Small Business, Inc.
  6. 6. Sponsored by: Coca‐Cola Super Bowl ‐ 1980 E*Trade Baby ‐ 2009 vs. What were the objectives of each? Choosing the Right Advertising 6 Copyright 2010 Sigma College of Small Business, Inc.
  7. 7. Sponsored by: Objectives • Awareness – Change the level of awareness to the product or brand – New concepts or brands, new audience, portfolio expansion • Attitude – Affect how potential customers perceive the product – Create demand for the product in general and your product specifically • Behavior – Generates specific action on the part of the potential customer – Research, trial and ultimately buy and use The Buying Process Attention Interest Desire Action AIDA Model Choosing the Right Advertising 7 Copyright 2010 Sigma College of Small Business, Inc.
  8. 8. Sponsored by: Messaging Trust, Customer Service • Content – What to Say • Structure – How to Logically Say It • Format – How to Symbolically Say It • Source – Who Should Say IT Inexpensive, Best Value • Split or Combined Ease of Transition Choosing the Right Advertising 8 Copyright 2010 Sigma College of Small Business, Inc.
  9. 9. Sponsored by: Budget How do you decide how much to spend? • Non‐Investment Methods – Affordability Method – Percent of Sales – Competitive Budgeting • Return on Investment Method – Match promotion cost to the potential profitable  revenue (return) – Best approach to realize desired outcome Choosing the Right Advertising 9 Copyright 2010 Sigma College of Small Business, Inc.
  10. 10. Sigma Free Presents… Choosing the Right Advertising Sponsored by: AdzZoo • Target Your market • Launch Your Campaign • Make Your Business Go Bananas! Provided by Sigma College of Small Business, Inc.
  11. 11. Radio  Television  Online Sponsored by: Print  Sponsorships  Trade  Shows  Outdoor  Direct Mail  Methods Newspaper Magazines Banner Ads AdWords SEO Product Placement Press  • Types Release Public Relations – Advertising Social Networking – Direct Marketing Partnerships Give‐Aways – Public Relations and Publicity Networking Groups – Sales Promotion Events Radio  – Sales Promotion Television  Online Print  Sponsorships  Trade Shows  • Terminology Outdoor  Direct Mail  – Reach – the number of unique potential buyers  Newspaper Magazines exposed to the message at least once during specified  Banner Ads AdWords SEO time  Product Placement Press  – Frequency – the average number of times that a  Release Public Relations potential buyer is exposed over the time period Social Networking – Impact – Qualitative value of an exposure through a  Partnerships Give‐Aways given medium (relative to your situation) Networking Groups – Total Exposures – Reach x Frequency Promotion Events  Radio  – Quality Exposures – Reach x Frequency x Imact Television  Online Print  Sponsorships  Trade Shows  Outdoor  Direct Mail  Newspaper Magazines Choosing the Right Advertising Banner Ads AdWords SEO11 Copyright 2010 Sigma College of Small Business, Inc. Product Placement Press
  12. 12. Sponsored by: Measure the Results • Measurement ‐ Part of the Design • Indirect Measurement – “Call” volume trends – Web Traffic – Revenue generation – Third party sources • Direct Measurement – Surveys • Awareness and Attitude – Measure Actual Response • Online, direct marketing, trials,  sales promotion (coupons, codes),  Choosing the Right Advertising 12 Copyright 2010 Sigma College of Small Business, Inc.
  13. 13. Sponsored by: Follow‐up on Response • Critical to Promotions – Coordinating promotions • Multiple touch points – Follow‐up to inquiries – Pre‐sale support – Post‐sale support • Use to Build Trust Building the Relationship Choosing the Right Advertising 13 Copyright 2010 Sigma College of Small Business, Inc.
  14. 14. Sponsored by: Sigma College of Small Business • Upcoming SigmaFree Classes Critical Business  – 2/23 – What is Your Business? The Art of  Areas an “Elevator” Pitch Strategy and Planning – 3/2 – The Right Stuff! Hire and Retain  Marketing and Sales the Best Employees Accounting and  Finance • Upcoming Sigma College Course Operations and  – Marketing and Sales for Small Business Quality • Wednesdays, 3pm‐5pm, 2/17‐3/10, 4 weeks Leadership and  – Free personal consult Administration – “Flex” schedule – attend either class Technology and  Innovation Dedicated to the Learning Needs of Small Business! 14 Copyright 2010 Sigma College of Small Business, Inc.

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