So you’ve been trying so hard for so long to turn all those lovely likes and comments into actual sales. That’s great, because the aim of any advertising campaign is to turn admirers of your brand into actual paying customers. The more you craft this campaign with the perfect blend of online and offline media, the greater the potential of attracting more of the right customers to you, thereby increasing your chances of a sale.
But choosing the right media is one thing, knowing how much to invest will also assist you in getting your message to a wider audience. With so many touch points and clutter, having a promotional budget will help you get noticed sooner and reach your ideal customers where ever they may be.
So exactly how do you plan the perfect budget for your campaign? Let me share with you the top four ways I’ve found that can help:
1) Take a look at what has worked in the past
It may be beneficial to re-look at a previous campaign to determine what media may have brought you some success. Maybe you distributed flyers or invested in social media advertising; increasing your investment this time around would be a great tactic to employ.
2) Observe your competition
Take a minute to observe the media and marketing tactics of your competition, taking note of what you’ve noticed has been working in their favor. Use this information as a guide as to what you should be doing and where you should advertise; then get the relevant costs.
3) Get customer feedback
Consider including a new tactic based on feedback from your clients. Speak with them to determine what media they consume and how frequently, use the information gathered to determine if you should utilize a new media into your advertising mix.
4) Seek expert assistance
If you believe the best way to get the most out of your campaign is to seek someone who is knowledgeable in a specific field, then this cost must also be included. Think about specialists you might absolutely need such as social media manager, a marketing consultant or even an administrative assistant and research the costs involved to have the best of the best on your team.
A combination of the above will help you set a realistic marketing budget for your campaign, however there are a few things that must not be overlooked as it can also affect your final investment figure. These include:
Seasonality: The time of the year may dictate a modification of your advertising budget. For example end of year tends to be overly cluttered so there may be need for a boost in your spend, conversely there may be times of the year where your specific audience may be less receptive to an ad campaign and therefore you may be required to reduce or eliminate your advertising.
Communication goals: This is where an executive decision should be made to determine which media would best help you explain or convey your message to your target audience. Will video or audio work best to help you customers understand your offer? This will guide you as to what media tactic might be best.
Time frame: This refers to how long you would like the campaign to run. Six weeks is usually the ideal duration for the campaign; four weeks is considered a short promotion, while eight weeks is considered a lengthy one.
Campaign type: Launching of a new product onto the market may require an increase in spend in order get potential customers familiar with the brand, however a maintenance campaign would require significantly less investment.
I really hope you found value in the above and if you need any assistance with your marketing strategies or promotional campaigns, do not hesitate to contact me. What I do is offer creative and resourceful ways to get in front of your customers in order to increase sales and it’s my aim to help you do more with less
For more free tips just like this, be sure to keep up with Carli on Facebook. If you need a little more hop on a free no obligation consultation and let me help you achieve your goals, just click this link to schedule. I can’t wait to chat.