Although it may be easier to create an advertising plan that calls for similar numbers of ads to appear each month throughout the year, this is an immature approach. Business cycles are not consistent. Accountants might believe allocating the same amount of money for advertising every month makes sense, but the market does not follow any fixed mathematical pattern. A skilled advertiser foresees changes in the market and plans accordingly.
Accept the limitations of your budget and your medium. No medium can address every prospect. You need to find out where most of your customers are. Trust market intelligence. It may be helpful to find out where your competitors are. The media they use are likely the best media for your product.
Often, agencies and advertisers reward the advertiser who brings in new customers. However, indulging in luring new customers at the cost of sacrificing old customers can be suicidal. The advertising plan that fails to target former customers may prove to be a costly mistake. Market intelligence has proven that it costs six times as much to bring in a new customer as it does to retain an existing one. Existing customers have bought from you several times. They may continue to do so. Try to expand, but your ads should continue to speak to them.
Every ad costs a lot. Don't expect miracles from a single ad. Accept that consumers are slow to act. They notice an ad only after they've seen it a few times. But don't make the mistake of changing your ads frequently. This may be even costlier. Always give your ad time to work.
Advertisers tend to have a fascination with ensuring that ads appear on Thursdays or Fridays. Avoid falling into this trap and fighting with every competitor in the market for consumers' attention. Doesn't it make more sense to advertise on Sunday or some other day when you will have the less-divided attention of relaxed potential customers?
Event ads are another trap for marketers. What does Columbus Day have to do with your brand of shoes? Why should you run an ad offering a special discount on that day? Customers will not be impressed.
If you are a businessperson, you may be very concerned about the costs of advertising. Everyone is, and everyone should be. Advertising may blow your budget, and it may ruin your business. Do the basic math to figure out what the returns will be. Cheap, poorly composed copy may not be the right option. But be sensible enough to find the most cost-effective solution.
