I am certain that, as a business owner, you have often entertained
question as to how much to spend and where to spend your advertising dollars. For most small business owners, these questions can add to headaches suffered in course of normal everyday operations of their business. THERE ARE NO SIMPLE ANSWERS
The how much to spend and where to spend it questions have no easy answers.
Depending on your type of business, many people suggest that *how much* should be equal to anywhere from 4% to 10% of your gross receipts.
The quandary is that a business cannot survive without a fresh flow of incoming customers. But, a business can seldom generate a fresh stream of customers without spending money to get word out about their business.
THE CHALLENGE OF DEVELOPING EFFECTIVE ADVERTISING
Have you ever paid for advertising and sat back to await fresh flow of customers, only to find yourself sitting and sitting and then sitting some more?
Don’t feel bad about that. It has happened to many of us before.
See, knowing where to spend advertising money is not enough to get job done.
Where to spend money only begins to highlight other issues connected with advertising:
· Marketing Plan · Advertising Strategy · Headlines, Ad Copy and Visual Presentation · Tracking Success of Your Advertising Campaigns
THE MARKETING PLAN
The Marketing Plan is used primarily to identify your own products and services, costs, strengths, weaknesses and strengths and weaknesses of your competitors.
To learn more about constructing your own marketing plan, visit Small Business Administration website for a comprehensive study of elements of a Marketing Plan:
http://www.home-business.com/nav/articles/links/sba_plan.html
ADVERTISING STRATEGY
It is important to understand what you expect to gain from your advertising.
Do you simply wish to get your name known so that when your customer will need you, they will think of you first? Or, do you wish to get your customers in your front door on Saturday?
Do you want your customers to come in and take a look around to discover next object that they cannot live without? Or, do you want them to come in and buy a specific widget?
Do you hope that enough people will come in to buy enough products or services to pay for your single ad? Or, do you expect to gain a lifelong customer who will help pay for your advertising over course of several years?
