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- What do you know about your industry, market and audience? There are many
sources of information to help you keep in touch with industry, market and
buying trends without conducting expensive market research. Examples include
U.S. Government materials from the Census Bureau and Department of Commerce.
Public, business or university libraries are also a good option, as are industry
associations, trade publications and professional organizations. You can quickly
and easily learn more about your customers by simply asking them about
themselves, their buying preferences and media habits. Another, more expensive,
alternative is to hire a professional market research firm to conduct your
research.
4:Build Your Action Plan - Evaluating Media Choices
- Your next step is to select the advertising vehicles you will use to carry
your message, and establish an advertising schedule. In most cases, knowing your
audience will help you choose the media that will deliver your sales message
most effectively. Use as many of the above tools as are appropriate and
affordable. You can stretch your media budget by taking advantage of co-op
advertising programs offered by manufacturers. Although programs vary, generally
the manufacturer will pay for a portion of media space and time costs, or mailer
production charges, up to a fixed amount per year. The total amount contributed
is usually based on the quantity of merchandise you purchase.
- When developing
your advertising schedule, be sure to take advantage of any special editorial or
promotional coverage planned in the media you select. Newspapers, for example,
often run special sections featuring real estate, investing, home and garden
improvement, and tax advice. Magazines also often focus on specific themes in
each issue.
- For additional information:
Read SBA's "A Primer on
Advertising"
Read SBA's "How to Improve Your Yellow Pages
Advertising"
5:Using Other Promotional Avenues
- Advertising extends beyond the media described above. Other options include
imprinting your company name and graphic identity on pens, paper, clocks,
calendars and other giveaway items for your customers. Put your message on
billboards, inside buses and subways, on vehicle and building signs, on
point-of-sale displays and shopping bags.
- You might co-sponsor events with
nonprofit organizations and advertise your participation; attend or display at
consumer or business trade shows; create tie-in promotions with allied
businesses; distribute newsletters; conduct seminars; undertake contests or
sweepstakes; send advertising flyers along with billing statements; use
telemarketing to generate leads for salespeople; or develop sales kits with
brochures, product samples, or application ideas.
- The number of promotional
tools used to deliver your message and repeat your name is limited only by your
imagination your budget.
- For additional information:
Read SBA's - 15 Foolproof
Ideas for Promoting Your Company
Read SBA's - 12 High-Impact Marketing Programs
that You Can Implement by Next Thursday Inc's Word-of-Mouth Marketing
The Advertising Campaign
You are ready for action when armed with knowledge of your industry, market
and audience; a media plan and schedule; your product or service's most
important benefits; and measurable goals in terms of sales volume, revenue
generated, or other criteria.
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