I recently received a call from an advertising sales representative. Sensing by his leading questions that he was really keen to close the deal, I decided to step in and ask some measurement and return on investment (ROI) questions.
As I did, I began to wonder how many small business owners don’t know which questions to ask in these circumstances, and hence make themselves easy targets for savvy sales reps. That prompted me to put together this beginner’s guide to assessing small business advertising opportunities.
Ask for audited figures
Ideally, you should only rely on media circulation figures that have been audited by the Audit Bureaux of Australia, so one of the first questions to ask any advertising sales person is “Are your circulation figures audited?”
This always raises an interesting response and usually reveals some telling information about the advertising opportunity in question.
If the figures haven’t been audited, you only have the salesperson’s word for how many people will view any advertising you decide to place with them.
Don’t let them do a snow job on you
The advertising rep referred to above didn’t respond to the list of questions I sent him.
Instead he phoned again and offered me the advertising at 50% less than the price he’d originally quoted, saying
At the end of the day, we can talk forever about how good this opportunity will be for you, and the number of hit rates and enquiries we’ve received recently. But the only way you’ll ever know the effectiveness of our site is to advertise with us just once and see for yourself the exposure we can generate for your business.
Don’t fall for it. Even at half price, advertising ‘just once’ will cost you money that you are quite likely to be able to get a better return on elsewhere.
Can you chuck in some free steak knives?
If you believe the advertising is worth investing in, look for ways to get some extra mileage from your spend by asking for added value. And don’t be shy about asking.
Put together a wish list of what you’d like and let the advertising rep respond. Common things to ask for are:
- Product placements in editorial space
- Extra exposure through competitions or giveaways
- The option of a special gift with purchase.
Get to know the editorial team
Look for opportunities to meet the editorial staff to talk about your product, the industry, and what opportunities are likely to be available in the future. This will place you in an ideal position to be quoted in editorial space.
Be as creative as possible, because publishers are often open to new ways of presenting information to their audience. For example, it may be worth considering partnering with them for events or being involved in their social media strategy or email marketing program.
Measure your results
How will you know if the money you spent was a good investment? You’ll need to create a system for tracking responses. There are many ways this can be done, including:
- Asking new customers how they heard about you and reviewing the data regularly. This one simple and obvious question really does give you some good insights.
- Using specific coupon codes, phone numbers or URLs for each campaign.
- Promoting specific products or gifts with purchase through only one advertising mechanism at a time. For example, if your ad on Flying Solo is the only place you mention your offer of a free biro with every batch of business cards printed, you’ll know exactly which ad everyone who asks about their free pen is responding to.
It’s worth noting that not all advertising is placed to drive direct sales or leads, and in some cases the purpose of advertising is to build brand awareness and visibility. Even so, it’s important to measure your results.
Make advertising part of your strategy, not your only strategy
Advertising does not replace a long term marketing strategy, but can be a valuable component of your marketing plan. Don’t forget that even if you can’t afford to advertise, there are many other ways to market your business on a shoestring budget.
Is advertising a useful strategy for your business? We’d love to know more about your results and experiences with small business advertising.
“ If you believe the advertising is worth investing in, look for ways to get some extra mileage from your spend by asking for added value. ”
Jo Macdermott from Next Marketing works with Business Owners in Melbourne who require ongoing Marketing support. If you are a Business Owner with a Marketing budget who is too busy to ‘get around to marketing’ then Jo Macdermott is here to help. Jo specialises in tactical Marketing plans that are pragmatic and make a lot of business sense.
