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Advertising your small and medium-sized enterprise (SME) is not something you should just jump into. You work hard for your money and you need your advertising budget to work as hard for you as it can. So before you go ahead and start spending money, here are eight things to consider before you start advertising your SME.
1. What type of advertising is right for me?
With so many platforms and channels at your disposal it is crucially important for you to firstly decide where you are going to put your advertising budget. Is it going to be an online banner campaign, or a Facebook campaign? Do you want to do radio ads and if so, national or regional? Always remembering that the key is to have your business exposed to as many relevant people as possible. Working this out in advance could save you a lot of money in the long run.
2. Who am I targeting?
Determining your target market will help you figure out what platform to use for your advertising. If it’s students you probably want to be on Twitter or Facebook and if it’s housewives you might want to do some banners on an appropriate website.
3. How old is my target market?
What do they like? By knowing this you can create advertising that is appropriate to them. What about gender? Do you want to reach men or women or both? Again, tailor your ads to your target market.
4. Should I target a specific geographic location or area?
Is your service a very local one? Are you a new plumber in the area? By knowing what area you want to reach you can focus your efforts and save money.
5. What is my value proposition?
Value proposition is a fancy way of saying, “Why should a customer buy my product or use my service?”
By defining your business / service you can make it easier for potential customers to see your value and get in touch with you.
6. What is my call to action?
What do you want people to do after they’ve seen your advertising? Do you want them to phone you? Or visit your website? Or send you an SMS? A clear call to action will lead to more leads thus more business.
7. Have I set up all the necessary channels / platforms for people to get hold of me.
Leading on from the previous point, you should make it as easy as possible for potential customers to get hold of you. People don’t always remember phone numbers, but luckily in this day and age there are so many platforms that you can be present on. Create a Facebook page, or start a Twitter feed, anything that makes it easier for people to find you online.
8. What is my budget?
In the end, it all comes down to what you can afford to spend on your advertising campaign. With every budget comes restrictions but if you are clear on all of the above points then you should be able to find a solution that is both cost effective and delivers over and above your ROI.