We have learned in a previous blog how to advertise on little to no budget, but now that your company is on its feet and a little more established, you have a bigger budget and need to maximize that budget.
This is not to say that you have money to waste though, so how do you ensure your ad budget is being put to good use and you are squeezing the most out of every dollar?
Well, I have compiled a list of five ways to maximize your budget when it comes to advertising.
You are probably already using all of these advertising methods, so now I am going to teach you how to use them correctly and the results will hopefully be amazing!
Obviously, the goal of ad spending is to make that money back twice over, so don't look at advertising as spending money, look at it as investing your money.
In any case, allocating more money to your ad budget and utilizing the tips below to perfect your advertising strategies will be a surefire way to earn you more than just your money back.
1. Geo-Fence Your Message
Advertisements are expensive, so why not make sure your efforts, and your cash, are being put to good use. To guarantee a return on investment, try geo-fencing your ads.
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For example, when a targeted individual gets close to the mall, a store, or even a restaurant, your advertisement, with an enticing call to action, will be sent out to them, and chances are they will end up at your place of business.
Most sales still happen in person and not online, so businesses have figured out a way to address this issue.
Once the consumer is in this given area, the business will send out their campaign to entice them to come to their place of business. This is highly targeted and probably extremely relevant to them at that moment, which makes it so effective.
2. Time Your Ads Delivery
Whether these are paid or unpaid ads on social media, google, or another service, timing your ads to when they will reach the most amount of people will help you get the most bang for your buck.
Prices for web-based ads can vary widely depending on factors like who is selling the space, how large their real estate might be, where you'd like to display your message, and what time you want your ad displayed.
Therefore, it is important to do your research and strategically pick and choose what to spend money on and how much you should be spending.
3. Commit to Email Marketing
In addition to being easy to measure, email marketing allows you to effectively drive traffic to your website, keep in contact with customers and leads, and reach the demographic and geographic area of your choosing.
Email is diverse enough to allow you to use it for news, product releases, and to demonstrate your expertise and success in your industry.
So what are you waiting for, start brainstorming and fine tune this investment?
4. Manage Your Own PR
Hiring a PR team can be beneficial but it is easy to blow through your budget trying to pay your PR people.
Despite popular belief, you do not need to hire an outside individual to manage your PR.
Focus on leveraging each piece of content you release and create a specific "news" or "what's new" page on your website.
These are all simple things you can easily do on your own, which will save you a ton of money.
5. Stop Spending Money on Advertising That Is Not Working
Ads that dominate some industries simply do not perform in others, and that's okay.
Depending on your industry you may need to experiment a little to see what gets the best results, but if something isn't working, stop doing it.
It is important to know when to cut your losses. Rather than dumping more and more money from your ad budget into something that could maybe eventually perform well, cut your losses and focus on the ads that are already proven to work.
This is probably the most important tip on the list. Don't focus your time and money on tactics that don't work.
If you find you are blowing through your advertising budget too quickly, you may need professional help to implement an advertising strategy that works for your business and helps you amplify your efforts.
Contact the experts at Kirk Donovan Enterprises today for a Free Consultation. Click on the Link Below!