You’re ready to advertise? Great! Time to decide where to spend those first few precious dollars.
Here are 5 tips to help you spend them wisely:
- Don’t take risks. I know that may not sound very exciting, but since this is your first foray into the advertising arena, you want to concentrate on proven channels in order to experience success. This is important for your business, as the returns from your first advertising dollars will fuel more advertising in the future. It is also important psychologically, because if you experience failure on your first try, you will likely be more reluctant to try again.
- Look at your competition. Where are they spending money? That will give you a clue to where the market is and where the industry sees the best advertising returns.
- Survey your customers. Find out how they found you. Find out where they shop or hang out. That will give you some clues as to where you might advertise to find more people like them.
- Talk to an agency/consultant. Even if you don’t hire them, they may bring up ideas and strategies that you never even thought of. Advertising is in their blood, and it may not be in yours. So let their experience guide you.
- Spend it where you can track it. Many companies like to go big with their first ad buy, like TV or print or radio. And if you have the money, by all means, go for it. But you should do everything in your power to track the results and learn from either the success or the failure of this initial campaign. PPC or Facebook ads are easy to set up and get started, and easily tracked.
If you’re looking to start advertising and want my help, just ask!