You always want to know who the ideal customer is for the business you’re working for. Before looking at advertising rates, you need to understand who you’re trying to reach and what you’re trying to achieve.
If you’re a sports bar, a soft rock station might not be the first place you would look. You want to match the business with the right audience, then ask the outlet for information that helps you judge that fit.
For businesses from Cape May to Atlantic City, timing matters, too. Are you trying to reach people during the busy summer months, bring in midweek business, or reach customers in the off-season?
What do you need the advertising to accomplish?
Over our years of working with clients, some would advertise only when they needed business. For example, they might focus on midweek because they were already busy on weekends.
Others might only want to advertise in the off-season. For example, an insurance company we have had experience working with focused on advertising after the busy summer tourism season to reach customers who are often too busy in July and August to focus
A lot depends on the client and what they’re trying to achieve. Start with that question before deciding where to spend.
Look at placement, not just price
When you’re looking at a rate sheet, pay attention to placement as well as price.
You might be offered a lower price for a radio ad, but it could run overnight. In a newspaper, a premium placement, such as the back page, may cost more than an ad in the middle of the paper.
Ask where and when your advertisement would run. A lower price is only useful if the placement helps you reach the customers you need.
Ask what is included
Some outlets are more flexible than others in what they’re able to offer. Depending on how long you’re willing to commit, they may offer added value.
Depending upon the medium, it could be a live radio broadcast, digital ads with newspaper ad, or other related items. Ask what is included and whether those extras are useful for your business.
You should also ask about production. It may be covered in the advertising package, but don’t assume it is. Video production may come with a separate charge, and digital placements may require you to supply your own creative.
Before an advertisement runs, make sure you have a chance to review and approve the final product.
Decide how you’ll track the response
There are different tracking methods you can use.
Some businesses use a dedicated website address that redirects to their main site. Coupons in a newspaper are another method. Others simply ask or survey customers about where they heard of the business.
Find the method that works best for you, and have it ready before the advertising starts.
Talk to multiple outlets, and stay within your budget
Our biggest recommendation is to talk to multiple outlets. Don’t just take the first offer. Compare the audience, placement, timing, production costs, and what is included.
And don’t sign up for advertising you can’t afford.
You can always add more advertising dollars to your budget as you go if things work well. But don’t buy ads hoping the business they bring in will make you able to afford them.
If the outlet or the messaging you choose doesn’t work, you’re still going to be stuck with the bill at the end.
