Very few small business owners have any formal training in advertising and marketing. Many open a new business and then just “wing it.” More often than not, the results are disappointing. At our Radio stations, we’re in business to help you do more business. We don’t just sell advertising. We produce marketing campaigns designed to help you grow your business. With that in mind, listed below are answers to several Frequently Asked Questions about advertising.
Q: How long should I advertise?
A: The answer depends on how long you plan to be in business. Marketing experts say “never start an advertising campaign with the intention of ever stopping.” Successful advertising campaigns are consistent and ongoing.
Q: What’s wrong with advertising only when I’m having a sale?
A: The unintended consequence of advertising only when having a sale is that it trains shoppers to shop with you only when a sale is in progress. And because a sale means you’re selling merchandise at a lower markup, you’re making less money on each sale. You should be encouraging customers to shop with you all the time, not just when having a sale.
Q: How much should I spend on advertising?
A: It varies by industry, but the general rule of thumb is to spend 2-5% of your gross. If you’re grossing $400k and want to gross $700k, you must spend like you’re already grossing $700k. A formula for determining your ad budget can be found at www.adbudgetcalculator.com.
Q: What type of advertising is best for me?
A: This too varies by industry, but we’re somewhat partial to Radio advertising. Radio uses the power of the human voice to motivate and persuade potential customers to do business with you. And Radio can spread the word faster, more effectively and more economically than any other media.
Q: How do I create an effective ad?
A: Whether advertising on Radio or in other media, effective ads all have the same thing in common – a good offer and a call to action. However, too many ads are poorly written and poorly implemented. Ask us for information on how to make your advertising more effective.
Q: Which Radio station gets the best results?
A: For maximum effectiveness, advertise on a station that matches the target demographic of your product or service. For example, if you’re selling farm equipment, a country station is a better choice than the local hip-hop station. If selling women’s clothing, a station with lots of women listeners is a better choice than an all-sports station.