Development of an effective advertising and promotion plan is essential for the success of any company. A careful, detailed, and thorough analysis should be done of the various marketing and advertising methods available, and ratings should be assigned to each of the available media.
It is useful to list and evaluate the various types of old and new advertising media on a spreadsheet, and determine the pros and cons of each. After reviewing the enclosed general assessment, rate each one on a scale of one to five to determine which is the most appropriate for your company.
Your ad can have a specific size and shape and can be as large as necessary to communicate as much of your information as you wish.
Although large-circulation newspapers are losing subscribers to online platforms, small community ones are thriving.
The distribution of your message can be limited to your geographic area.
Free help is usually available to create and produce your ad.
The ad you decide to run today can be seen by your customer’s in 24 hours in many cases.
Your ad has to compete for attention against large ads run by big supermarkets and department stores.
Newspaper circulation is dropping dramatically and being replaced by online digital marketing.
Poor photo reproductions limit creativity.
A “price-oriented” medium. Most ads are for “Sales”.
Short shelf life. The day after a newspaper appears, it’s history.
Waste circulation. You’re paying to send your message to a lot of people who will probably never be in the market for your products or to buy from you.
A highly visible medium. Your competitors can quickly react to your prices.
High reader involvement means more attention will be paid to your advertisement.
Less waste circulation. You can place your ads in magazines read primarily by buyers of your product or service.
Better quality paper permits better photo reproduction and full-color ads.
The smaller page (generally 8-1/2 by 11 inches) permits even small ads to stand out.
Long lead times (generally 60 – 90 days) mean you have to make plans a long time in advance. No opportunity to make changes.
Higher space costs plus higher creative costs.
Low advertising and production costs
Motivated audience. People seek classifieds online to find specific products and services.
Easy to test and measure results.
Small space for message means you can’t provide much information.
Crowded pages and small print can make your ad hard to notice.
A universal medium that is accessed at home, at work, and while driving. Most people listen to the radio at some point during the day.
Permits you to target your advertising dollars to the market most likely to respond to your offer.
Permits you to create a personality for your business using only sounds and voices.
Free creative help is usually available.
Rates can generally be negotiated.
Least inflated medium. During the past ten years, radio rates have gone up less than other media have.
Quick production turnaround.
Because radio listeners are spread over many stations, to totally saturate your market you have to advertise simultaneously on many stations.
Listeners cannot refer back to your ads to go over important points.
Ads are an interruption to the entertainment. Because of this, radio ads must be repeated to break through the listener’s “tune-out” factor.
Radio is a background medium. Most listeners are doing something else while listening, which means your ad has to work hard to be listened to and understood.
Advertising costs are based on ratings, which are approximations based on data kept on a relatively small fraction of a region’s households.
Permits you to reach great numbers of people on a national, regional, or local level.
Independent stations and cable TV offer opportunities to pinpoint local audiences.
Very much an image-building medium.
Ads on network affiliates are concentrated in local news broadcasts and on station breaks.
Creative and production costs can quickly mount up.
Preferred slots are often sold out far in advance.
Most ads are either 10 or 30 seconds long, which limits the amount of information you can communicate.
Your advertising message is targeted to those most likely to buy your product or service.
Your message can be as long as necessary to fully tell your story.
You have total control over all elements of creation and production.
A “silent” medium. Your message is hidden from your competitors until it’s too late for them to react.
Easy to test different ads or offers.
Long lead times required for creative printing and mailing.
Requires coordinating the services of many people: artists, photographers, printers, etc.
Each year over 20 percent of the population moves, meaning you must work hard to keep your mailing lists up to date.
Likewise, a certain percentage of the names on a purchased mailing list are no longer useful.
Flexibility in production helps you keep costs down.
Can distribute same flyers through different means (direct mail, trade shows, street corner handouts) to increase reach.
Message must be kept simple to be effective.
May require coordinating the services of many people: artists, photographers, printers, etc.
NEWSLETTERS (As an intrinsic part of your website)
Maintains contact with regular customers without pressuring them.
Increases customer loyalty by helping clients get to know you better
Provides useful information that builds your company’s credibility.
Puts a human face on an impersonal product or service.
Can be time-consuming if you create it yourself.
Can be expensive if you hire professionals to help write and design it.
Inefficient use of resources if your regular customer list is still small.
Must publish regularly and keep the content useful to maintain effectiveness.
Provides in-depth information to interested parties.
Can be kept for reference after sales discussion, or as a follow-up to coupons, ads, telemarketing, etc.
Can be expensive and unnecessary if distributed to people who haven’t expressed interest.
Can require vigilance to continually update its look and feel, product information, and pricing.
You can readily answer questions about your product or service.
It’s easy to prospect and find the right person to talk to.
Cost is effective compared to direct sales calls.
Highly measurable results.
You can get a lot of information from a well-structured script.
Lots of businesses use telemarketing.
Can be very expensive if you hire a telemarketing agency.
Telemarketing is resented as an intrusion by many consumers.
Combines text, graphics, sound, and movement to capture visitors and get them to act.
Interesting content and useful articles build customer interest and loyalty.
Interactive. Customers can choose the information they want and give you feedback.
Global medium that allows you to sell your products and services anywhere in the world.
Operates as an e-commerce platform with or without brick and mortar outlets.
Easy to change information and correct mistakes.
Very cost effective for those with limited budgets. An absolute must for a business of any size.
Websites must be intensely marketed through SEO and SMO to attract traffic and conversions..
Creative, engaging updates regularly required to pull in repeat and new visitors.
OUTDOOR ADVERTISING (BILLBOARDS)
Low cost per thousand (CPM).
High reach and frequency for general audiences.
Can be hard to ignore
Extremely limited message length. Best when paired with another medium.
Production costs can be expensive.
Exposure to targeted customers who are ready to buy.
Can demonstrate products and offer samples.
Exhibiting is expensive.
Detailed pre-planning is required, with inflexible deadlines.
Can be attention grabbers if they are done well.
Gets your name in front of people.
Difficult to target your market.
Can be inappropriate for some businesses.
Difficult to find items that are appropriate for certain businesses.
Effectiveness can be hard to measure.
Relatively inexpensive if you do it yourself.
Builds credibility with customers because you didn’t pay for the coverage.
Provides feedback about your company’s image, position, and trends.
Faulty PR efforts can hurt your company.
Can be time intensive.
PR agencies are often too expensive for small businesses.
PRODUCT DEMONSTRATION FACILITIES
Creates an advantageous setting to influence consumers.
Permits direct interaction with the consumer on a one-to-one basis.
Features and benefits can be demonstrated in a real-life setting.
Sales personnel can interact with the consumers and get feedback.
Requires a relatively high investment in facility décor and renovations.
Difficult to measure return on facility investment.
Hard to determine the sales conversion factor.
Requires, specialized and dedicated staff to work after hours.
Utilizing your own scoring system (scale of 1-5), you should evaluate all of the various forms of advertising media available and then formulate your advertising plan to utilize the media form which is best suited to your business.