Saving money on advertising campaigns is everyone’s dream, but cutting costs too much can cause a business to lose customers and profits, especially during the busy holiday shopping season. Planning an advertising mix to help balance advertising expenditures with return on investments can be a tricky proposition. Deciding if you want to fish in the big pond or the small one is a smart way to evaluate your risks versus rewards and make your decision.
Advantages of Small Pond Advertising
When you choose the small pond route, you can work in a narrow niche, which means less wasted marketing dollars. You can run smaller ad campaigns more often to increase your reach and frequency without busting your budget. Smaller marketing campaigns are perfect for display advertising products such as flutter flags, flying banner sails and sail sign banners as your marketing dollars buy more products, which means you can saturate a target market with a minimal outlay of advertising monies.
Another advantage of small pond advertising is it allows a business to integrate all the marketing efforts under one umbrella. Display advertising products can be use as stand-alone advertisements or as complements to other segments of a marketing mix.
Finally, concentrating your efforts on more advertising in a smaller area can generate larger cash flows that can be used to open up other markets.
Advantages of Large Pond Advertising
If you look at some of the most hotly fought political battles in recent history, you’ll see a definite pattern emerging – the battle often goes to the best funded individual rather than the best candidate. The same can be true in the advertising wars because money does talk. One huge ad could outperform many smaller ads depending on the choice of media and the target demographic.
Another advantage of large pond advertising is it allows you to have many streams of prospects and potential new customers and new territories flowing into your business pipeline. Any business, regardless of size, will lose a percent of its business each year to attrition. It’s important to keep enough irons in the fire to compensate for any erosion of your customer base as well as increase your market share.
Finally, maintaining a robust advertising program is the best way to support your product line or services and keep your client base solid.
Once you’ve decided which advertising pond to fish in, you’ll want to take the following steps to guarantee your success:
Plan your holiday marketing campaign. Failure to plan is one of the most expensive mistakes a business can make. Evaluate the return on investment for every dollar spent. Track results for each type of advertising product and cut poor performing programs immediately.
What one thing can you do today to make your seasonal advertising campaign work harder and produce better results?
At Metropolitan Display we offer all sorts of holiday advertising displays and signs of all kinds including A-frame signs, curb and sidewalk signs and flutter flags and flying banners. We hope you’ll like us on Facebook and don’t forget to add us to your circles on Google+