Posted by
AdvertisingCrossing on Wednesday, July 04, 2007 2:53:05 AM
Over the years, I've worked with companies of every size,
from Fortune 500 companies to family-owned businesses. The following are some
of the costly mistakes businesses make with their advertising.
1.
Launching their advertising without a strategy
or a plan:
A business should
have their advertising planned out 12 months in advance, and they need to know
what their message will be. For example, during the months of January and
February, they might run ads that pertain to cold weather. During the spring,
they might run ads designed to start the phones ringing. The entire year should
be planned in advance.
2.
Inadequate budget:
The advertising budget
depends upon the size of the market and how much advertising the business has
done within that market. The larger the market the more expensive the
advertising is. A key factor for success is frequency. Let's say your target
market is "women, aged 35 to 54, middle income on up." To be
successful, the target market needs to hear or see the advertiser's message a
minimum of three to five times a month. Without adequate frequency, advertising
fails to produce the desired results.
3.
Failure to focus the ad dollars:
Advertisers often
say, "I tried TV," "I bought some radio," or "I tried
XXX, and it didn't work." To be successful, an advertiser with a limited
budget should focus the dollars on one medium that will reach its target market
cost effectively. Spreading ad dollars over several media can be a formula for
failure.
4.
Lack of consistency:
To be successful, an
advertiser needs to present a consistent look and message across all media. The
look of its website should be similar to its print or direct mail. Its radio
and/or TV should tie in with any or all other advertising.
5.
Failure to differentiate:
Every day, thousands
of advertising
messages fail because they do not sell and they do not differentiate. It takes
more than creativity to make ads work. Successful advertising needs to
differentiate a business from its competitors and promote customer benefits.
6.
Advertisers need a campaign, not just a few
ads:
Consumers tune out
ads they have seen too often. Advertisers need to have a minimum of 15 or more
ads in rotation throughout the year to hold attention and maximize results.
7.
Tracking of results:
Ask advertisers how
their advertising is working, and many have no answer. Advertisers need to
track sales leads, sales performance, and closing ratios and ask customers how
they heard of their businesses. Tracking the effectiveness of advertising is
critical to the success of any business.
- AdvertisingCrossing