How to choose the best advertising medium for my SME
The advertising medium in which you channel your messages must be a strategic decision beyond its price, your own taste or the tradition of always doing the same.
What does advertising do for my business?
The first solution a company comes up with when it doesn't sell is "let's advertise." Unfortunately this is not a sufficient solution to a more extensive problem such as "not selling".
Sales are the result of a series of previous actions that attract prospects, earn their trust, and then become customers. Advertising alone will not generate this process immediately, it is as if you wanted a girl to say yes the first time you cross the street.
Advertising allows you to make yourself known, and those who already know you allow them to increase their confidence in your product / service. Advertising does NOT generate a sale immediately, it is an indispensable tool in your sales process, but in isolation it will only generate isolated results.
So, use advertising as a tool to publicize your product / service, its benefits and differences, use it to generate more trust in your brand and expect more prospects from it, not immediate sales.
What type of advertising should I do?
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This will depend on your business, its line of business and, above all, the stage it is in.
Introduction. You are starting and your business needs to be known. It is one of the stages where your advertising tools will be basic to start and take off.
Increase. At this stage you can lower your advertising investment to focus more on building prospects, loyalty, public relations, networking and customer satisfaction.
Maturity. Here your competitive situation will have a lot to do with it, if you are surrounded by competition and your business / product / service is losing its differentiation, you must communicate again to your market what makes you different. Here the increase in publicity can be important.
Decline. Every product / service has its own life cycle, and it is common that you have to reinvent yourself in order to continue with your business. Here the use of advertising should be focused on new launches, liquidation promotions or brand relaunch.
Find out what stage your business is in and from there define the objectives you need, the messages you must convey.
Before choosing your advertising media
Let's first go over a few general rules of thumb before we get to choosing your media:
<![if !supportLists]>1. <![endif]>Know your market well, they should set the tone for the place where you should advertise.
<![if !supportLists]>2. <![endif]>Define the objectives you are looking for with advertising.
<![if !supportLists]>3. <![endif]>Follow your general strategy: differentiate yourself.
<![if !supportLists]>4. <![endif]>Be very clear about the message you want to convey and the action you expect from it.
What means should I choose?
The means to use will depend on your market, your strategy, objectives and your company's own line of business, so in general I share these seven criteria that can help you make a much more strategic and wise decision.
The first thing you should do is to place these criteria in the order of importance that your specific case deserves. There will be companies in which "money" is the highest priority situation, there will be others where the most important is the long-term impact, and so on.
Once you have them in order, go through each criterion to the advertising media that you have in mind to use: radio, poster, press, TV, adwords, brochures, etc. and from your rating, begin to decide which media are best for you.
So you must consider which medium is best suited to achieve the objectives you are looking for with your advertising.
1. Cost. How much does this medium cost? Can I pay for a campaign, not just a publication? Do I need to invest more in production or support material?
2. Accessibility. Is my target market in this medium? Do you have access to it? How easy is it for my target to find myself in this medium?
3. Ease of use . This easy-to-use medium? Do i need training? Can I manage it?
4. Credibility . Is this medium credible for my target?
5. Participation . Does this medium stimulate the participation of my audience? Can I expect response or action in response? Does that kind of answer help me?
6. Dissemination of the message . Does this medium allow to extend the dissemination of the message in the long term? Does it require a lot of repetition? Does its impact remain?
7. Relationship with objectives. Can this medium be used to achieve the objectives? Will it give me what I expect?
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