The Importance of Having Realistic ExpectationsWe want to help our clients understand the way advertising actually works.
Many business owners come to us, or any other advertiser for that matter, and expect immediate results.
They could have the smallest budget but expect the same results as their competitors who are spending hundreds of thousands of dollars on advertising every month. They could be a brand new business that nobody has heard of yet, and with one
Therefore, small businesses with even smaller budgets, usually only have two options when considering an advertising strategy.
Most Successful Advertising Strategies for Small Businesses
The first, spend a large amount of money, an entire budget, all in a very short period of time. Saturate the market with your name and what you are selling. Make sure everyone hears about you and the message you are trying to convey.
This strategy is good for grand openings, major sale events, or the introduction of new products.
The second option is to spend relatively small amounts of money over a very long period of time, effectively divvying up your budget into small sums of money per ad campaign.
This way takes patience but can be successful in the long run.
People will be exposed to your brand over a long period of time, which will build recognition and trust. Then when they eventually need what you are selling, they will look it up and recognize your brand and give you their business, or when they are at a store, scanning the shelves of identical products, your brand name may stick out, resulting in you making the sale over the competition.
Which Technique Will Work Best for Your Business?
Now depending on your specific business or product, the technique that will work has yet to be determined.
This is where hiring a marketing professional is your best bet.
You may think you know what is best to sell your product, but an advertiser with a career full of experience selling every product under the sun will have the next level of understanding and guidance that we would recommend you take.
We then honestly inform clients as to the expectations that are realistic. This also differs depending on the business, branding, the product or service, type of advertising, target demographic, location, and budget.
All of these factors influence an ad's success, and we can tell you now that a very small budget over a very short amount of time will rarely be successful. In fact, it is almost never successful compared to the other two strategies previously mentioned.
For example, past clients with a small budget have run a couple radio ads, then when they didn't get an overwhelming amount of results, complained it didn't work and left our agency.
Well, expecting a flood of business after just one or two radio advertisements is a little unrealistic, wouldn't you think?
In fact, it has been said that people need to hear something upwards of seven times before they even pay attention to it. Not to mention that they don't trust you yet because they don't recognize your product or brand.
They aren't going to run out and spend money on something they barely have heard of. You have to remember that customers are going to be just as protective of their money as you are of yours.
The Laundry Detergent Analogy
For example, you have a new laundry detergent called Kudzu. A customer is in the store on a regular grocery shopping trip. Maybe a few weeks ago they heard one ad about your new soap, but they probably were not even listening.
It has not made an impression in their mind yet.
So, they are in the aisle going to pick out a laundry detergent. They see All, Tide, Cheer, Clorox, and then Kudzu. I can almost guarantee you that they do not even give your measly Kudzu a second look.
They buy a brand they recognize, maybe one that is on sale, but most likely the kind that they have been using for their entire lives week after week.
See what I mean now?
You have to really build up your brand before you can expect people to buy it. Make them listen, make them remember you, build their trust, and then you can try to get them as a customer.
That is why it is called return on investment. You invest a little money and a little time, you get very little return. You invest a lot and well, you are probably going to get a lot. It is a risk, and hopefully, reward.
I know this may be difficult to hear, and maybe a little discouraging, but remember a tactic that works is investing a little money over a long period of time. This can take some stress off of having to come up with a large budget right up front.
Contact Kirk Donovan Enterprises Today
Let us work with you and develop an advertising strategy that works best for you and your business.
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