Advertising forms a core part of your marketing strategy, working as a way to directly target your core customer base. The aim of adverts is to grab people’s attention, forcing them to come to your business to find out more about what was advertised. Of course, there are so many different advertising options and mediums for a business to venture down. Big businesses can afford to spend money on almost all of these different formats. However, small companies have tighter budgets, meaning you may have to choose one avenue to advertise down.
How do you make this decision? What type of advert is the best for your business?
Consider the costs
To begin, you really have to consider how much money you’re working with, and how much the different advertising methods cost. Unfortunately, this is very tricky as the prices fluctuate based on many factors. For instance, asking how much does a TV ad cost isn’t a straightforward question. It depends on what channels you advertise on, what time, the production costs, etc. The same goes for online ads, the cost can vary based on keywords you bid on, the advertising channels you use, and so on. It’s best to work with advertising/marketing experts on this one to see how much it would cost for you to run adverts across TV, online, social media, radio, newspapers, etc. Then, you can look at your budget and determine which ones are the most feasible.
Look at your target market
This is arguably the most important factor when choosing what type of advert is the best for your company. Your target market will have a heavy influence on which ads to focus on, and which ones to cast aside. For example, let’s say your audience is 16-24-year-olds. Now, ask yourself, does it make sense to invest in print-based adverts? No. The majority of people in your target market aren’t going to read magazines or newspapers. But, they are going to be active on social media, so social media adverts start making more sense. The deeper you go into your target market, and the more you uncover about them, the easier it is to decide what advert is the best for you. After all, the whole point of adverts is to target your market, so picking the wrong one can be a waste of money.
Think about what you’re advertising
Finally, consider the point of your advert. Are you advertising your business in general, or are you promoting a specific product. For things like product advertisements, online ads arguably work better than others. This is because you can get instant gratification from the ad – advertise a product, someone clicks the ad, they land on the product page and can buy it. So, keep in mind what the purpose of your adverts are before you choose a format that suits it.
All in all, there is no type of advert that’s the ‘best’ for every business. It’s a case of working through these points and finding the ideal advert for your needs.