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This advertising spend is small compared to some of America’s largest companies, such as Disney, AT&T, and Procter & Gamble, which annually spend more than billion on advertising.The right advertising budget varies by business needs and market.Businesses will spend more on digital advertising such as social media and Google search, which helps achieve their goal of increasing sales and revenue.
What do you have to say that matters to your customer? I know you want my business, but why should I care? Most ads are written under the assumption that the reader, listener or viewer has a basic level of interest and is paying close attention to the ad. Let's say the "We Fix Cars" auto mechanic has a great deal of affection for older BMW 2002s.
But customers tend to ignore all ads that do not speak directly to them. Most ads are ineffective because the writer was trying to say too much, include too much and be too much. He knows that 2002 owners love their cars like few drivers on the road and that the only weakness of the 2002 is its evil Solex carburetor. So he writes the headline, "BMW 2002 Owners: Aren't You Tired of Fooling With That Solex by Now?
Businesses don’t have to spend a lot to advertise successfully.
More than one-third of small businesses (37%) spend less than $10,000 on advertising each year.
But aim that pathetic pistol at an opponent holding a machine gun, and you can kiss your silly butt goodbye. If your competitor carries a machine gun, don't go where he goes. Likewise, an ad for a product we buy twice per year will produce results faster than an ad for a product we buy only once a year.
Remember, a customer first has to be exposed to your ad often enough to remember it, then you have to wait for that customer to need what you sell. Not hiring a professional ad writer is often far more expensive than hiring one.
We define small businesses as having limited revenue and between 1 and 500 employees, which corresponds to the Small Business Administration's definition of small business.
Businesses can use this report to help plan their advertising budget and discover what advertising mediums can help them achieve their goals.
If you'd like to read more about this stuff, most libraries and bookstores are full of books on advertising, including three of my own.
The opinions expressed in this column are those of the author, not of