Choosing Advertising

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So many advertising choices, so little budget. When the media rep calls you with the latest great opportunity, how do you decide whether it's right for your business? This presentation provides an …

So many advertising choices, so little budget. When the media rep calls you with the latest great opportunity, how do you decide whether it's right for your business? This presentation provides an overview of different media choices, pros and cons of each, and some tips for making good choices.

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Transcript

  • 1.  
  • 2. So many advertising choices So little budget
  • 3. What is advertising?
  • 4. Advertising is
    • Non-personal
    • Paid for
    • Identified sponsor
    • Sponsor-controlled
    • Intrusive
    • Persuasive (emotional)
    • Investment
  • 5. Advertising is not
    • Marketing
    • Promotion
    • Personal selling
    • Public relations
    • Infomercials
    • Email
    • Trade shows
    • Mugs and pens
    • Classifieds
    • Yellow pages
    • Google AdWords
    • Coupons
    • Live sampling, demos
  • 6. Strengths
    • Complete control over message
    • Complete control over media placement
    • Lower cost per prospect than direct selling
    • Pervasiveness permits repeated messages
    • Investment in product equity
    • Enhances competition
  • 7. Weaknesses
    • Non-responsive/interactive
    • Limited access to senses
    • Limited time/space for complete info
    • Payback over time
    • Growing resistance by consumers
        • Saturated and overwhelmed
        • Feel advertising is irrelevant to them
        • Want more regulation and limits
        • Interested in products that block intrusion
  • 8. Which sort of advertising is right for your business?
  • 9. Which sort of advertising is right for your customers? You should be asking yourself…
  • 10. You will waste your money if you don’t understand your prospect
    • Generally
      • Where they live
      • Demographics
      • Their values
        • Opinions vs. behaviors
      • Their choices
        • Money, time, energy
  • 11. You will waste your money if you don’t understand your prospect
    • Specifically
      • Wants and worries
      • Options they are considering
      • Steps to the decision
        • Considered vs. impulsive
      • Influences
        • Personal experience, information, opinion-leaders, rumors, friends, kids, mood, self-esteem, comfort level, risk, value, blogs…
  • 12. Do not even think about advertising until you…
    • Know what your prospects want
    • Understand how your product gives them what they want
    • Have a “story” that will connect the dots for them
    • Know when/where to fish
  • 13. The media rep has one for you If you don’t have a strategy
  • 14. You will waste your money if you don’t have a strategy
    • Objectives
    • Audience
    • Positioning
    • Messages
    • Budget
    • Timing
    • Evaluation
  • 15. You will waste your money if you don’t have a budget
    • Percentage of annual sales
    • Cost-per-person reached
    • Cost-per-person reached X times
    • Cost-per- targeted person reached
    • If you cannot afford to succeed with advertising, use another tactic
  • 16. Newspapers
    • Advantages
      • Reach large number of people in area
      • Flexibility in ad size
      • Targeted placement in paper
      • Message available for re-exposure
      • Quick turn-around
  • 17. Newspapers
    • Disadvantages
      • Waste
      • Clutter
      • Poor production quality
      • Weak medium for image-building
        • Environment is price-promotion-oriented
      • Short shelf life
  • 18. Newspapers
    • Questions to ask the media rep
      • Distribution (paid vs. subscription)
      • Readership demographics
      • Page position guarantee
      • Competitive exclusivity
      • Day of week
  • 19. Magazines
    • Advantages
      • More targeted than newspapers
      • High reader involvement
      • Good production quality
      • Smaller page allows smaller ads to “pop”
      • Good for image-building
      • Ads last longer without wearing out
  • 20. Magazines
    • Disadvantages
      • Clutter
      • Long lead times
      • Risk being overtaken by timing
      • Limited flexibility
  • 21. Magazines
    • Questions to ask the media rep
      • Distribution (paid vs. subscription)
      • Readership demographics
      • Editorial calendar
      • Competitive exclusivity
      • Page position guarantees
  • 22. Radio
    • Advantages
      • Portable
      • Creatively flexible
      • Theater of the mind
      • Stations provide creative/production help
      • Formats allow targeting
        • Type of audience
        • Day-part
      • Rates often negotiable
      • Radio rates stable over decade
  • 23. Radio
    • Disadvantages
      • Diffuse audience
      • Requires frequency
        • Gone with the wind
        • Interruptive
        • Background
  • 24. Making radio work
    • Repetition is key
    • Bunch ads together
    • Advertise when people are listening
    • Spread message across similar stations
    • Creative, captivating, memorable
    • Assume people will not write down info
  • 25. Radio
    • Questions to ask the media rep
      • Audience
      • Stations with similar formats
      • Share (by quarter, day-part, program)
      • :60 vs. :30
      • Creative/production help
      • Reach and frequency
        • Cost to reach your target 5-7 times
  • 26. Television
    • Advantages
      • Broad reach
      • Targetable
        • Specific programs
        • Specific day-parts
      • Sight, sound, motion
      • Image-building
      • Creative/production help from station
  • 27. Television
    • Disadvantages
      • Short ads
      • Best times often sold far in advance
      • Requires frequency
        • Gone with the wind
        • Interruptive
        • Background
      • Good quality is expensive
  • 28. Television
    • Questions to ask the media rep
      • Audience
      • Share (by quarter, day-part, program)
      • Creative/production help
      • Reach and frequency
        • Cost to reach your target 5-7 times
  • 29. Outdoor / Transit
    • Advantages
      • Frequency
      • Low clutter
      • Build name-recognition
      • Quick communication
      • Good for targeting broad audience
      • Good for long-term visibility
      • Movable
  • 30. Outdoor / Transit
    • Disadvantages
      • Loss of detail
      • Placement is key
    • For success…
      • Integrate with other media
  • 31. Fliers / Posters
    • Advantages
      • Targetable by location
      • Clutter
      • Build presence as “citizen”
  • 32. Fliers / Posters
    • Disadvantages
      • Placement is labor-intensive
      • Need cooperation of venue
      • Require maintenance
      • Clutter
  • 33. Web advertising
    • Advantages
      • Analytics making it easier to target
        • e.g., Facebook ads
      • Sight, sound, motion
  • 34. Web advertising
    • Disadvantages
      • Old models don’t work
        • Intrusiveness
        • Interactivity
      • User, not sponsor, in control
        • Hunter vs. hunted
  • 35. Direct response (a bridge between advertising and sales)
    • Advantages
      • Highly targetable
      • Personalizable
      • Flexible
        • Message
        • Timing
      • Adjustable
      • Measurable
      • Involving
      • Produces quick results
      • Hide from competition
      • Relationship-building
  • 36. Direct response
    • Disadvantages
      • Escalating costs
    • For success…
      • Use it only when you have a specific behavior you want to stimulate
      • List + Offer + Design
  • 37. Final thoughts
    • Fish where the fish are
      • Use a rifle, not a shotgun
    • Speak your target’s language
    • Talk about what matters to them
    • Integrate with other marketing tactics
  • 38. Final thoughts
    • Set standards for production quality
    • Support your positioning platform
    • Tell the truth
    • Know the law
      • Trademark, copyright law
      • FTC rules about words like “new”
  • 39. Final thoughts
    • Keep good company
    • The more differentiating your message is, the less you need to spend on advertising
    • Advertising is not an expense
    --> It’s an investment
  • 40.