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It’s often said, “50% of your marketing budget is being wasted.” Deciding how to spend your marketing dollars is the first step. This can be a daunting task and requires specialized attention to be successful. A marketing plan executed correctly can send your business to the next level, but if done incorrectly you could be trying to figure out which 50% was wasted.
Not to worry, Maudience is here to help. Below are the benefits and drawbacks to some of the most popular mediums. If you have any questions, feel free to contact us to formulate your marketing plan.
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We all have received direct mailing pieces in the mail no matter where we live. If you are like most people, they go straight in the trash or recycling bin. People are throwing away your thoughtful, professionally designed mailing pieces and it can eat a large portion of your budget with little return.
In fairness to print advertising, it is one of the most inexpensive ways to promote your business while reaching a large audience. Allocate money towards print if you meet any of these criteria: you are new in town, have a big event coming up, are a local restaurant, or have access to any new mover’s address.
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If you aren’t willing to pay a monthly fee for Sirius XM, then you probably get bombarded with local ads constantly in your car. Sadly most of these ads are so repetitive and annoying, the driver changes the station immediately out of instinct. Also, more often than not the person listening isn’t in the market for your services.
It can be great for local brand recognition because you are hitting a local market and getting your name remembered. Unfortunately, it can be expensive. Radio is great for service industries, but make sure you have the time to develop a powerful script. Radio requires frequency, consistency, and a very strong emotional message.
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If you are a small business, then I hope you have a spare arm and leg. By far, television tends to be the most expensive medium to advertise for success. TV commercials require a substantial amount of time to develop and promote. Production of a message as good as the national brands can take up a large portion of your budget before you even get on the air.
If you have the time and room in your budget, this medium can provide a lot of benefits. People will respond to well-done commercials if it is relevant to their interests or needs. Make a lot of room in the budget if you are willing to spend the time perfecting every detail and you still have money to spend when it’s over.
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As a digital marketing agency, Maudience is partial to AdWords and other so-called new media internet marketing. However, that is not to say there isn’t a downside. If people aren’t searching for your product or service in your area, then spending too much time devoted to an AdWords campaign doesn’t make sense.
The beauty of AdWords is that you can manage text, display, and YouTube ads in one spot. That isn’t even the best part; everything is trackable, and you only pay when people interact with your ad. Getting exposure to qualified potential customers is something most businesses can use. Although, make sure you get training first or have an agency run your campaigns, otherwise you could be wasting money.
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