Despite your product being “the next big thing” – whether it is a pair of shoes that will rock the fashion industry’s world or a new technology accessory that will “wow” even the most technologically advanced users, here is a secret…
No matter how great your company, product, or service is, without advertisement, nobody will ever even know about it.
How can consumers flock to something they have never even heard of?
The answer is simple – they can’t.
And, that is where your advertising campaign comes in:
The main goal of any advertising campaign should be to reach the largest audience possible and attract the largest number of new customers, all while maintaining the most cost-effective strategies.
You have to spend money to make money, but don’t go overboard…
A well-executed advertising campaign is a wonderful investment for any business – big or small – however, a poorly executed advertising campaign can turn into a huge money pit.
Major companies like Apple, Google, McDonald’s and just about every other successful name are continuously working on their next advertising campaign:
It intrigues the customers, presents them with a call to action (CTA), and therefore, it results in an increase in a company’s conversion rate. As people are presented with captivating information about the next big product or service, they can hardly help but jump on the opportunity – that is, if the advertising campaign is well-executed.
Before you run around passing out flyers as your advertising campaign, consider this advice:
1. Narrow down your target audience.
The first – and most important – step in any advertising campaign is to narrow down your target audience…
Who do you want to reach with this advertisement?
Is it the young teenage girls looking for the next hottest makeup item? Or the stay-at-home mom looking for a way to make cleaning the house easier?
Who you are targeting will determine how you target them.
Ask yourself what type of customer you would like to attract.
2. Learn about your target audience.
Once you narrow down who are you are targeting, it is time to focus on the how…
What are their wants, needs, and interests? You must understand your audience to serve them and to grab their attention.
One of the most common mistakes made in an advertising campaign is creating a generic ad that does not effectively deeply engage anyone – it simply brushes off everyone’s shoulders.
So, rather than trying to reach everyone, narrow it down to your niche and go all in.
3. Highlight your competitive advantage.
I hate to break it to you, but you probably not the only company selling “shoes that will revolutionize the fashion industry.” Plenty of companies have a product or service which they consider to be the next big thing
However, only one or a handful of companies can actually make it big.
So, what is it that makes you different?
Narrow down what gives you the competitive advantage over your competitors and highlight that. Sometimes, people need you to slap them in the face with why you are better to fully understand the value of your product or service.
Rather than overwhelming potential customers with too many ads, specify your ads so that all it takes is one really good ad.
For example, if you offer a bank card with a design like no other or maybe security features like no other, let the consumers know.
4. Establish your image.
While the ad content itself is vital to your advertising campaign, don’t forget about the importance of establishing your brand’s image…
McDonald’s can be recognized just by their arch – in fact, most people would know a McDonald’s is close by without ever seeing the name, just the arch.
Likewise, there are several other well-known logos or packages that can be recognized simply by their logo.
Your image gives consumers something to hang on to; a way to remember you. Establish an image they can connect with to improve your advertising campaign.
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5. Advertise in the right place.
Similar to how we discussed earlier the importance of narrowing down your target audience, you also need to narrow down the most effective advertising locations.
While your target audience might be narrowed down and your ad might be highly specific, if they never see the ad it will do you no good.
Continue researching your target audience to find out what their favorite media outlets are:
What radio station do they listen to?
Do they read the newspaper?
What television programs might they watch frequently?
Ad placement is vital to actually reaching your target audience.
6. Manage your budget accordingly.
When planning an advertisement campaign, most companies tend to just set aside an allotted amount for advertisement each month.
However, most industries and companies have seasonal highs and lows when it comes to business. So, while your budget might be great one month, it could actually be losing you money the next.
Instead, track your seasonal highs and lows and adjust your budget accordingly. This will ensure you have sufficient funds when you want to reach a large audience and are not wasting money when the consumers are scarce.
7. Diversify, always.
It is easy to get comfortable with one choice and put all your eggs in one basket.
You love the first location you chose for your ad and think it will just overhaul your conversion rates…
However, consider how investing works – you do not want to simply put all your money into one place that does generate a return because you will never reach your maximum potential.
The same goes for advertising.
Explore a variety of options and choose a variety of suitable media that work both for your audience and your budget.
Despite how it might appear from the consumer side, throwing a clever commercial on in the middle of a popular program is not as simple as it seems.
Advertising campaigns cost both time and money – meaning you want to ensure they are as effective as they can possibly be.
When working on your advertising campaign, utilize these tips to help you avoid costly mistakes.
Let us know: Have you ever made a costly mistake when planning your advertising campaign? Let us know in the comments so other readers can avoid it!