Is Advertising Expensive?
Updated: Aug 20, 2020
As a Senior Account Executive selling advertising for over a decade I can't begin to tell you how many times I've heard the words, "advertising is expensive." With radio as my mainstay for the past decade I've heard lines like, "radio doesn't work," multiple times. When I proceed to ask them what their target market was and what stations they utilized I get anything from "I don't remember" to "we target adults 18-24 and we used station WXXX because I like that station." Inevitably station WXXX caters to people 35-54. Of course that didn't work for you. You put your message out to the wrong audience. The reality is that advertising is only "expensive" if it doesn't work. So why isn't your advertising working?
The key to marketing is getting the right message to the right audience. It's not advertising in a medium that you enjoy (unless you happen to represent your average customer); it's advertising to your average customer. If you are looking to turn around your advertising campaign or looking to venture into advertising then make sure you have the following information prior to beginning.
1. Your target audience. Know their age/demographic breakdown. Know their income levels and college education. Know their tendencies. Are they sports fans? Are they music nuts? Are they homebodies? The more you can tell to your advertising rep, the more they can lead you in the right direction. A good rep will point you in the right direction to your audience even if it means they don't get the sale.
2. Budget. Have a well thought out marketing budget. Don't be afraid to share this budget with your advertising rep. It makes our jobs easier because it gives us a guideline to make the right choices for you. My job isn't to gouge you on rate (which is why people are afraid to give it out) it's to make the plan that will be most effective to meet your needs.
3. Know your cost per acquisition/ROI. This will give you a gauge as to the campaigns success. Share this with your rep beforehand so you have a metric for review. If the campaign isn't working there may be tweaks to turn it around before it's over.
As someone who's been selling advertising for over a decade I can safely tell you that the more information I know, the more I can help grow your business.
About the author: Brett Mercuri has over a decade of experience as a marketing and advertising consultant with iHeartMedia which reaches 250 million people across the US. Specialties include radio advertising, digital marketing and event sponsorship. He can be contacted at email@example.com or by phone at 412-919-8524.
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