Understanding the What's & Why's of Advertising:
Have you ever seen an advertisement and thought that something similar might well benefit your small business? Well, it just could. Or it could backfire and be a complete waste of money. That's because advertising is but one element of a business's overall marketing strategy.
True, it has many facets-print, billboard, online, broadcast, direct mail, etc.- but each element and the message it conveys has been carefully developed with a specific purpose in mind. In other words, image is not alway's everything. Veteran advertising executive and SCORE mentor Tom Patty says a sound small business advertising strategy is built on three fundamentals:
Know what you are trying to accomplish. There are several distinct stages to a customer's decision process, also called the "Purchase Funnel". You need to decide what part of that process you want to influence, and the best way to do it.
Select a medium. Know who you want to reach, and where they get their information.
Know what your message is. That message has to tie into what your target audience values. Is it responsiveness, quality, convenience, or something else?
Make sure you can measure it. You need something that you can "see," such as more calls, greater use of coupons, traffic in store, etc.
Patty adds that entrepreneurs should not waste time and energy on things that don't matter-stationary typeface, color of business cards. Instead, they should focus their message on what truly sets their business apart.
"Orient your message to how your product/service solves someone else's need," he says. "Effective messages are also simple and fun, but the focus should still be the benefit to the customer."
As for finding the most effective medium for your ads, Patty advises against looking to online as a "magic bullet." It's best to start small, perhaps with a few keywords on Google AdWords. And dont overlook "conventional" channels such as print, broadcast, or direct mail. If that's where your potential customers are, your well-developed ads should be there too.
To learn more, contact SCORE Lakes Region Chapter No. 172 by calling our Wolfeboro office, 569-4216, or log on to http://lakesregion.score.org/ and link to Free Counseling. While counseling is always free-of-charge, members from the chapter also offer small business workshops and seminars for modest fees. Also, if you are interested in offering a small amount of your time by sharing your business experience to others please contact our office.