In this section we’ll guide you through selecting the best advertising methods to promote your products, your services or your business.
Factors Determining Best Advertising Methods
If you are looking for the best advertising methods there are several key factors you need to consider.
Factor 1: Advertising Reach
How many people do you want to reach? If your success depends on your marketing message reaching and convincing many thousands of people you need to select a broadcast advertising methodology.
This could be TV adverts, Outdoor Posters, Bus Sides, Digital Displays, Print Ads in Magazines, Email Marketing to a large subscriber list, or Direct Mail to a large targeted list.
Factor 2: Advertising Quality
When selecting the best advertising methods the second factor to consider is the quality of the advertising message that will be received.
There is usually a clear inverse relationship between the reach and the quality. That is the more people you try to reach the lower the quality of the interaction.
Think of it this way. If you want to reach 4 million people you can’t go and meet them all individually. There’s simply not enough time. But by recording your message into a creative advert, a TV ad, a poster, or even a sales letter you can get your marketing message to all those people thanks to your use of advertising media. But the downside is that these people won’t feel a truly personal connection to you – the way you could achieve if you were only trying to reach 4 people and you could go and spend an hour with each.
Factor 3: Cost to You for Your Advertising Methods
The third crucial factor in assessing the best advertising methods is how much it costs you to reach each potential customer.
It should go without saying that you would ideally look to minimise the cost per potential customer reached. The ultimate solution here is to find free advertising methods because this means you are operating at the lowest costs. This could be simple ideas like using advertising methods like craigslist.com or harnessing the social power of twitter.com to spread your advertising message.
However, while this no cost approach can seem like a winning idea it may not be your optimal solution. Sometimes paid for advertising methods will generate far faster and far greater responses while the free advertising methods can take a longer time to produce results.
It is usually the case that higher quality advertising methods reach fewer people but cost more per interaction. This is fine if you know that the quality will generate a better result. This is usually the case when selling higher ticket items. By contrast, if you are selling lower ticket or lower priced items you can often achieve better results by going for lower quality advertising methods which reach more customers.
Factor 4: Perceived Customer Benefit from Your Advertising Methods
The fourth key factor in selecting the best advertising methods is to consider the perceived benefit experienced by your target customer. If they consider the value from your product to be high that should also change the approach you use.
For example, if you are selling a $70,000 car you can afford to create lavish targeted direct mail executions, or you can invite the buyer to your showroom for a champagne reception etc. In contrast if you are selling a $2.99 consumable item, the perceived benefit is less, and you only have a few cents to invest in your advertising methods so you need to select techniques which will convey your ad message and benefit on a budget.
One way of delivering high benefit perception on a budget is to use sampling. Everyone loves a bargain and you don’t get a better bargain than ‘free’. If you have a low price item then maybe giving away a sample to enable a high quality interaction with your brand could be the best advertising method. Of course you need not give away full size packs, many sampling executions give away a small sample of the product or a trial use of the service. This maybe for a limited time period or for a set number of uses. It enables a high quality interaction and experience with the product or service.
Factor 5: Reduce the Risk To Your Consumer with Your Advertising Methods
We are all the same when we are trying something for the first time. None of us like to look stupid or make a mistake.
That’s why some of the best advertising methods carefully reduce, minimise or remove the risk to the consumer.
There are several ways to reduce the risk: Give away a free sample, Offer a Free Trial, Offer a Money Back Guarantee. Any of these approaches make it easier for a prospect to say yes and to commence a deeper relationship with your brand, product, service or business.
Selecting the Best Advertising Methods
In summary, there a number of key factors to consider when selecting the best advertising methods. There is no one right answer, but by working through these factors you will be able to select techniques which deliver your the best business results.