25 Oct 10 ways to get more from your advertising budget
If something works, stick with it:
Too many marketers scrap their old promotions and create new ones because they’re bored with their current campaign. Whether it’s online or offline, an effective advert can leave a burning hole in people’s brains if the message is strong enough/creative stands out. Social media makes it easier than ever to measure the effectiveness with likes and reaction buttons.
Do you really know who you need to reach?
Sounds quite simple, but you’d be surprised how many still get this wrong. Target audiences can be tricky especially as digital has opened up more channels to reach even more consumers. But who do you really want and NEED to get to?
Use your ads for more than just space advertising:
Ads are expensive to produce and expensive to run. But there are ways to get your advertising message in your prospect’s hands at a fraction of the cost of paid space advertising. Why not distribute ads internally to your other departments; engineering, production, sales and customer service, to keep them up to date on your latest marketing and promotional efforts? Make sure your salespeople receive an extra supply of reprints and are encouraged to include a reprint when deliver, write to or visit customers.
Get maximum mileage out of existing content (text and images):
Photos, illustrations, layouts and even copy created for one promotion can often be lifted and reused in other pieces to significantly reduce creative costs. For example, copy created for a corporate image ad can be used as the introduction to the annual report.
Advertise on social media to target a larger audience:
Facebook is not just for kids and idlers. With a user base larger than the population of China and nearly 2 billion members worldwide, and 22 billion ad clicks per year, Facebook is providing businesses with the largest advertising opportunity since Search began. So yes, your audience is on there somewhere – it’s just a matter of finding them (hint: we can show you how). Also, running a Facebook ad can be super cheap and you do precision targeting by things like job description, location, age and sex.
Sweeten the deal
Customer are inundated with advertisements. One way to gain an advantage is to offer a promotion in your advertisement, such as a discount code or free shipping. If you have the space in the ad, include an end time for the promotion (such as “ends 8/8!”) to help create a sense of urgency and increase the chances even more than the viewer will engage with the advert.
Experiment, experiment, experiment
As much as you can strategise and estimate, the only concrete way to know whether your store is going to get more customers from text-only Google AdWords ads or sponsored Twitter posts is to go ahead and try both. It may be tempting to take a scattershot approach and try everything at once, but doing so can quickly overwhelm your ability to gauge what’s really working. Instead, test a limited number of advertising initiatives on two or three platforms, keeping careful track of which ads generate the highest engagement, click-through rate and total conversions. Remember it’s not just the most clicks or lowest cost that counts; it’s about how many of those enquiries turn into sales!
Shared bus stop advertising
Taking out a small ad on a bus stop bench or even on a covered station is much cheaper than going with a billboard. To decrease your expenses even more, find a partner in your area who runs a business with a complimentary product to yours. Come up with a dual advertising strategy and you essentially get your advertising space at half-price.
Don’t sell too soon
Don’t try to make the sale in your ad. Unless you have a simple, inexpensive product, very few people are going to move from seeing your ad to immediately placing an order for your product. Remember that marketing is getting someone with a need to know, like, and trust you. The call to action in your ad should be to begin building that relationship. Provide something of value that your ideal customers will be willing to trade in exchange for their contact information.
Measure your results (all your results, all the time!)
One of the benefits of taking a two-step approach to advertising is it becomes much easier to measure the results of your campaign. By including a call to action that instructs prospects to visit a special web page, you can measure the number of visits to that page. You can also measure the number of people who completed the desired action – filled out a form, downloaded an eBook, watched a video, etc.