Choose methods according to cost, targeting and response

Available mix of advertising methods

Advertising is a complex business and an ever-changing science. New ideas and media uses are being devised all the time, and as the advertising industry switches emphasis from media to media, and as new technologies and lifestyle trends develop, so new advertising and promotional methods need assessing and comparing with traditional available methods as to which is more or less cost-effective for your given purposes. For example through the 1980s and 1990s there was a huge trend towards direct mail (junk mail), which seems to show no signs of abating - many very large consumer brands switched significant advertising spending into direct mail, often switching away from TV. TV on the other hand is increasingly attractive to small local businesses. Loyalty schemes demonstrated significant success rates through the 1990s through to present times. Internet advertising is arguably now more popular than radio advertising - the importance of websites and internet listings are very significant now for small local businesses just as much as larger corporations. 'Viral marketing' (exploiting electronic communications and the 'word of mouth' instinct) is an example of a new method of advertising that simply never existed until about the mid-1990s. Advertising methods change with lifestyle and technology developments - learn what's available to you - learn what your competitors are doing. Read about advertising methods and developments and trends. Historically (1980s-90s) advertising agencies were commonly 'multi-services' agencies, and split their operations to handle the creative, production and media-buying processes. Nowadays however, multi-services agencies are far less common - the range of advertising methods is so vast that advertising agencies are now most commonly specialised in one or a small number of advertising services (types of advertising), because there's so much to consider and to use. Whether you work with an advertising agency or not, learn about the methods that are available to you - keep up with developments so you can make informed decisions about where to put your advertising emphasis, and what 'mix' of methods to use.

choose methods according to cost, targeting and response

Any campaign can be broken down in terms of cost per thousand, and if you are seeking a direct response, it should be monitored according to cost per response and also cost per conversion. Advertising cost per thousand includes cost of origination (design), production (printing if relevant) and media (such as local radio, display advert, list procurement and postal fulfillment). Generally you will pay a higher cost per thousand for better targeted methods, but in return you should expect a higher response rate, so the cost per response can be lower than cheaper methods. Choose advertising and publicity methods that suit your targeting. Organisations selling advertising are able to provide a lot of information about their readership/audience, and you can look at other advertisers that repeatedly using various media to gauge how effectively it's working for them, which will provide some clues as to how well it might work for you. Are they targeting the same audience as you? If so you it's an idea to call them and ask if the particular advertising method is one they's recommend or not.

Getting and building evidence of advertising effectiveness is a vital part of decision-making, and managing your advertising and marketing mix. Why guess if you can base decisions on experience and previous statistics and data? Sophisticated advertisers only commit to major programmes after accumulating response data from pilots and previous campaigns. They avoid guesswork, and so should you. Any large scale activity must first be tested and the response measured for quantity and profile.

Дата добавления: 2015-11-14