Forgot The Ad Budget? Dont Panic!

Bob is excited about his new business. He secured funding. He leased the building. He stocked it full of new gadgets. He hung the sign. He posted a banner on his window that reads,"Grand Opening!". And now he stands behind the counter, waiting for customers to come flocking in. And he stands there. And he stands there. And he stands there.

And then it hits him: No one knows about his shiny new store!

I've seen new and even established businesses make this same mistake over and over again. Advertising is the last thing they think of. They assume that since their doors are open and the merchandise is on display, customers will come running in. But they won't come. Not until they know how great your new business is! And to do that you need to plan and execute an advertising budget and strategy.

Many times I've been called in to consult with a new business to help plan their ad strategy well after their stores have opened when in fact, this is something that should have been done during the initial planning stage.

So is it too late? No, but sometimes it's a major sticker shock to those who did not put a realistic plan together from the start. Remember that advertising, like your store and your merchandise, is an investment towards your profits.

But let's say you're like Bob and your business is already up and running. How do you put together a realistic ad budget? Well most people use a percentage of gross sales as a means of figuring this out. If however, you're a new business owner with no prior sales, you can base it on industry standards. Use the web and search out other related businesses for a guide. Once you've figured what your gross sales should be, think about using 3 to 5 percent as a starting point for your ad budget. Another factor to consider when planning an ad budget is that it should encompass all aspects of your advertising from media placement to creative costs and production of your ads.

And remember: advertising must be done with consistency. Let me write that again. Advertising must be done with consistency. When planning your ad budget, make sure you allot enough funding to allow it to last throughout the year whether your sales will be spread out evenly or are cyclical. If you spread your budget too thin, chances are your ad campaigns may not be heard or seen enough to stay in the minds of consumers. And if your business is brand new, you'll want to plan on spending more at the beginning for your initial start up campaign.

Some businesses make the mistake of advertising strong for about three to four weeks and then they stop. Keep in mind that consumers have very short memories and with 3000 plus advertising messages that pummel their brains everyday, it's no wonder! That's why you have to stay in the public's eye consistently. Oh, and it also helps to have a clever message but we'll talk about that in another article.

Once your ad budget is established, the type of advertising you use will be based on your specific business but normally if your business is consumer based, even in these modern web based times, traditional media such as radio, television, print, billboard and direct mail should still play major roles.

Many times I've helped clients put together an in-house survey for their customers to fill out. This can be helpful in determining what type of advertising they'll need as well. Questions like, "What radio stations do you listen to?" "Do you subscribe to the newspaper?" and "Do you shop on-line?" can be useful in getting to know your customer's habits as well as how to attract more like them.

Consulting an advertising agency is a very good way to get started as well. To find a good agency, try contacting other business owners you know for a referral or perhaps an established business whose advertising style and creative appears to fit your goals.

Remember: planning your advertising budget and strategy is as important as the products your trying to sell. Think about your advertising now and you'll never end up like Bob: standing behind the counter waiting for customers that never come.

Hal Eisenberg is an award winning copywriter, voice over talent and producer, as well as owner of The Eisenberg Agency, a full service advertising agency specializing in creative ads that get results. Visit his web site at http://www.eisenbergagency.com. Mailto: halacious@eisenbergagency.com.

In The News:
Powered by Feedzilla



Contact Us Today For Ad Information...

Ebooks, Scripts, Websites, and more...

Cheap Domain Names

When Times Get Tough... or When to Really Advertise

The Pundits say the economy is slowly, but surely, recovering.... Read More

Placemat Ad Advertising

Starting a placemat ad business can create more business for... Read More

Scrolling LED signs

Scrolling LED signs is type of LED signs that displays... Read More

Is Your Advertising... Sexy?

Ever hear the term 'sexy' advertising? It's not necessarily what... Read More

Media Planning: Smart Choices for Your Success

Media Planning for SmartiesYou say you're ready to advertise. How... Read More

Prove It! - Give Your Marketing and Advertising More Credibility

Your marketing and advertising won't be effective if your potential... Read More

How to SAVE Yourself from Spending too Much Money on Advertising!

How much money have you spent in Advertising, Promotion &... Read More

Books, Bibles and Fast-Talkers

Every community has 'em. Fast talkers who roll into town... Read More

Advertising Headlines and How to Write Them

1. Attract prospects with your headline Use your headline as... Read More

Advertising In The Local Press

There are three main reasons why I would hesitate when... Read More

Secrets to Profitable Mail Order Products

The most profitable mail order products are simple... Read More

Moving Message Board

Moving message boards are used in the areas where continuous... Read More

7 Tips for Better Ads

The content of advertising is basically the same no matter... Read More

Your Eye Catching Publicity Flyer

Your website is done, your business cards have been delivered,... Read More

The Future of Voiceovers: Hold Your Tongue...Possibly Forever

"Do we need to cast a voice-over talent for this... Read More

3 Elements To A Deal-Sealing Classified Ad

Have you ever wondered why your perfectly fine classified ad... Read More

Advertising That Annoys: The Real Story

Critics conclude that entertaining or "creative" commercials sell better than... Read More

I Dont Want to be Different

To succeed in today's crowded marketplace where most of the... Read More

Seven Ways to Kick Up the Power of Your Print Advertising - More Small Business Power Tools

If you're a retailer and the only kind of advertising... Read More

2005 Super Bowl Ads... Winners and Losers

Well, Super Bowl XXXIX is history. Too bad for the... Read More

Advertising Agency In Boston: Tips and Tricks

The big news on Wall Street last year was the... Read More

Persistant Advertising Will Do No Harm!

From my experience, I've been on many discussion groups and... Read More

16 Ways to Make Your Business Cards Unforgettable

Every time you hear someone say "May I have one... Read More

Why People Fail in Mail Order

Mail order is a very complicated business. Every phase must... Read More

Electronic Reader Board

Electronic reader boards are the most efficient way to convey... Read More